ANSWER Storagetemasek is an unregulated broker that we strongly advise against trading with despite the seemingly attractive deals it offers.Storagetemasek claims to be regulated by the US Securities and Exchange Commission (SEC) and be a member of Investment Industry Regulatory Organization of Canada (IIROC), the Canadian Investor Protection Fund (CIPF), and the Financial Commission. Firstly, it is important to note that the SEC is responsible for regulating the securities markets and protecting investors and the Financial Commission is a self-regulatory organization and external dispute resolution (EDR) body. Both of them have no legal authority to issue forex licenses or regulate forex activities. Secondly, we noticed that the IIROC has issued a warning against Storagetemasek (you can check the full warning here), stating that it is not a member of the IIROC and the CIPF and is never registered with IIROC to sell forex or crypto assets, or any other investment products. Storagetemasek accounts are not protected by CIPF. That means Storagetemasek is misrepresenting itself to deceive unsuspecting investors.Regarding your question, Storagetemasek is not regulated by any governing body. Entrusting this broker to hold and control your funds or trading with it is highly risky, as there are no legal protections to safeguard the funds. Therefore, we strongly suggest investors stay away from unlicensed brokers like Storagetemasek and opt for fully regulated ones instead.
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