ANSWER Dear Investor,
Millance, which was formerly known as Milliva, was previously identified by us as a suspicious and unregulated trading platform. On 6 December 2023, the UK Financial Conduct Authority (FCA) issued an official warning stating that Milliva was providing financial services in the UK without authorization.
We have now observed that the platform has rebranded itself as Millance, with a new website at https://millance.com/, and claims to be regulated by the Anjouan Offshore Finance Authority (AOFA) in the Comoros.
However, AOFA is an offshore regulator that lacks international recognition and is widely regarded as having minimal oversight, weak enforcement capabilities, and inadequate investor protections. Its regulatory standards fall far short of those upheld by reputable authorities.
While we were able to locate Millance LTD in AOFA’s registry, it is critical to note that AOFA does not publicly list or verify the domain names associated with its licensees. This makes it impossible to confirm whether the Millance trading platform is genuinely linked to the licensed entity, or if it is misrepresenting its regulatory status.
Given its history of operating without authorization and its reliance on a non-credible offshore regulator, we assess Millance as posing a high risk to investors.
Therefore, we strongly advise against engaging with this platform and recommend that you only trade with brokers regulated by internationally recognized financial authorities.
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