ANSWER iToroStocks is not a regulated or licensed broker for traders even though it states offers that look good to be true.iToroStocks claims to operate under and comply with the Markets in Financial Instruments Directive (MiFID) and the company is authorized and regulated by the Cyprus Securities and Exchange Commission (CySEC) as a Cypriot Investment Firm (CIF) and the Australian Securities & Investment Commission (ASIC). However, we did not find any match results for this broker in CySEC or ASIC.More importantly, both the UK Financial Conduct Authority (FCA) and the Belgium Financial Services and Markets Authority (FSMA) issued a warning against this broker providing financial services or products without authorization.The truth is, iToroStocks is not overseen by any regulators. That means your personal data or your funds in this broker are unsafe and cannot be protected by any law. We would recommend traders stay away from unregulated brokers like iToroStocks and trade with licensed brokers.
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