ANSWER Aiwa FX is an unlicensed broker that we advise against trading with, despite the seemingly attractive deals it offers.Aiwa FX marks itself as an "accredited and trustworthy broker with more than 25 years' market experience". However, our investigation has uncovered a completely different truth.Despite claiming to be an over 25-year-old market participant, Aiwa FX's domain (aiwafx.com) was first registered in May 2022. This raises suspicions about the company's credibility. Aiwa FX fails to disclose any regulatory information beyond the vague claim that it is "established with multiple regulatory licenses". This lack of transparency can be interpreted as a scam indicator, as legitimate brokers always prominently to display their accreditation and licenses.Additionally, Aiwa FX, in an attempt to appear real, displays two addresses on their webiste, respectively in Dubai and Mauritius. As per local laws, Aiwa FX is required to be regulated by the Dubai Financial Services Authority (DFSA) and the Mauritius Financial Services Commission (Mauritius FSC). However, no corresponding records exist in the registers of the aforementioned authorities, suggesting that Aiwa FX provides financial services or products outside the regulatory framework.Regarding your question, our advice is not to deal with Aiwa FX because it is an unlicensed broker. This is a trading platform not subject to any regulations, thus carrying significant risks such as financial losses and identity theft. Once your money and personal information are held by the broker, there are no rules in place to safeguard them. Therefore, we strongly suggest investors stay away from unlicensed brokers like Aiwa FX and instead choose a fully regulated one to mitigate such risks.
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