ANSWER No, we strongly suggest you avoid MINEOTRADINGFX as it is an unlicensed broker and there are no rules in place to protect you from fraud and identity theft.MINEOTRADINGFX claims to have a company number (09916745) from the Companies House (CH) to look credible. But this number actually belongs to a company named RADIANCE CONSULTING LTD that has requested to remove its name from the Companies Register. Moreover, it is uncertain if MINEOTRADINGFX has any connection with RADIANCE CONSULTING LTD. This raises a serious concern.Also, the Financial Conduct Authority (FCA) has alerted against MINEOTRADINGFX, suspecting this broker is offering financial services or products in the UK without adequate authorization. The full FCA warning can be accessed here.In short, MINEOTRADINGFX is not supervised by any regulatory body. Trusting this broker with investors' funds is very risky, as there are no legal safeguards to protect the funds. If it goes out of business or disappears, there are no ways for its clients to recover their money or get compensation. To mitigate these risks, it is advisable to opt for a fully regulated broker instead.
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