ANSWER Spotinvest is not a licensed or regulated broker even though it states offers that look good to be true.Spotinvest claims to be operated by Primis LLC, a company registered in Saint Vincent and the Grenadines Financial Services Authority (SVG FSA) with registration number 1860 LLC 2022. We indeed find a match result to Primis LLC in SVG FSA. However, SVG FSA is not a forex regulator. It does not regulate forex brokers or issue forex licenses. Having registration or not, therefore, does not mean being authorized to provide financial services.More importantly, both the Spain Comisión Nacional del Mercado de Valores (CNMV) and the United Kingdom Financial Conduct Authority (FCA) issued warnings against Spotinvest for being a clone firm and not authorized to provide investment services. You can check full warnings from CNMV and FCA.The truth is, Spotinvest 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 Spotinvest and trade with licensed brokers.
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