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What accounts do they offer?
Larry Burke
Vietnam
Jun 25, 2023
ANSWER Updates on June 12th, 2024:EmarMarkets asserts that it has obtained authorization from the Financial Sector Conduct Authority (FSCA) under the license number 53070. However, the FSCA does not provide the licensee's website address in its public records, which could serve as direct evidence to confirm that the holder of the license is indeed the operator of the website emarmarkets.com.Given this, the claim that EmarMarkets holds the FSCA license cannot be verified solely based on the information provided by the FSCA. Additional steps may be necessary to confirm the validity of EmarMarkets' claim.Historical records:EmarMarkets is an unlicensed broker that we strongly advise against trading with, despite the tempting deals it offers.EmarMarkets claims to be operated by EMAR Markets Ltd, a company supposedly registered with the Financial Services Authority of St. Vincent and the Grenadines (SVG FSA) with registration number 26869 BC 2022. However, no corresponding records exist in the register of SVG FSA, raising significant doubts about this company's legitimacy and authenticity. Additionally, the offshore financial watchdog has explicitly stated that it neither issues licenses for forex trading or brokerage, nor does it regulate entities involved in such activites. Consequently, there is a strong indication that EmarMarkets lacks supervision from the relevant regulatory body.EmarMarkets also purports to be a member of the National Futures Association (NFA) with ID 0555619, but data from the US financial authority reveals that it is not an NFA member and is therefore not subject to their oversight. This further underscores concerns about the company's credibility and regulatory compliance.Regarding your question, we recommend exercising extreme caution and avoiding EmarMarkets due to its lack of proper licensing. Using an unlicensed trading platform could expose investors to financial losses and identity theft, which would be financially and personally devastating, as no protections are in place to safeguard investors' interests. Therefore, investors are encouraged to stay away from unlicensed brokers like EmarMarkets and choose a fully regulated one to mitigate such risks.
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