ANSWER Dear Investor,
NXG Markets claims to be authorised and licensed by the Financial Sector Conduct Authority (FSCA) and the MWALI International Services Authority (MISA). Our verification confirms that both regulatory bodies have registered entities associated with NXG Markets. However, it is important to note that the FSCA has not publicly disclosed the operational website for the licensed company, making it difficult to fully verify the authenticity of its license in South Africa.
Furthermore, both the FSCA and MISA are considered offshore regulators with relatively weak oversight. Even with dual licenses, the regulatory protection provided may be insufficient to fully safeguard investor funds. Additionally, the UAE Capital Market Authority (UAE CMA) has previously issued a warning regarding NXG Markets, suggesting that the platform may be conducting regulated activities without proper authorization.
In light of these findings, we strongly advise you to exercise caution and carefully plan your investment strategy when dealing with this platform.
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