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5Markets
Regulators:
5Markets is NOT legit and should be avoided at all events. 5Markets claims to be owned and operated by Uncany Services LLC, a company registered with the Financial Services Authority of St. Vincent and the Grenadines (SVG FSA) under the registration number: 1499 LLC 2021. We did find a matching result from SVG FSA, but please be informed that SVG FSA does not issue licenses for forex trading nor regulate any forex activities. So this broker is merely a registered broker operating under no valid regulation.
What's worse, the Spain's regulator CNMV has added 5Markets to its alert list to warn the public that this firm is not authorised to provide the investment services in the country. You can check the full alert or warning here.
As per the evidences above, our verdict is that 5Markets is thoroughly a scam on account of running its business without any relevant license approved by a reputable regulator. Therefore, we would recommend traders stay away from this broker and trade with licensed brokers.
FX trading is of high risk and may not be suitable for all investors. Leverage will create additional risks and loss. Before trading, please carefully consider your investment objectives, experience level and risk tolerance. You may lose part or all of your initial investment; do not invest money that you cannot afford. Educate yourself about the risks associated with FX trading. If you have any questions, please consult an independent financial or tax advisor. Any data and information are provided "as is" and only for information purpose, not for trading or recommendations. Past performance does not predict future results.
The data contained in this website may not be real-time and accurate. The data and prices on this site are not necessarily provided by the market or exchange, but may be provided by market makers, so prices may be inaccurate and differ from actual market prices. Namely, this price is indicative price only to reflect market trend, and is unfavorable for trading purpose. The provider of the data contained in the Website shall not be liable for any loss incurred by you as a result of your trading activities or reliance on the information contained in the Website.


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