ANSWER Coinmasfx is an unlicensed broker that we advise against trading with, despite the seemingly attractive deals it offers.Coinmasfx falsely claims to be legally operating business in the financial industry while doesn't provide any details about its regulatory status, which is a clear indication of an unlicensed broker, as legitimate ones typically prominently display their accreditation and licenses. In addition, given the location displayed on the broker's homepage, we searched for it in the New Zealand Financial Markets Authority (FMA) registry but found no matching records. Coinmasfx is basically not subject to any effective regulation.Regarding your question, Coinmasfx doesn't have any licenses to carry on business in trading in forex. Entrusting this broker with your funds or personal details is highly risky, as there are no safeguards in place to prevent fraud or theft. Therefore, we strongly suggest investors stay away from unlicensed brokers like Coinmasfx and opt for fully regulated ones instead.
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