Monstrade seems to get a US license, can you update?

https://monstrade.co/

Dear Investor,

Monstrade claims to be regulated by the National Futures Association (NFA) under license number 0560385, and also states it holds a Money Services Business (MSB) registration from the U.S. Financial Crimes Enforcement Network (FinCEN).

However, our verification reveals serious discrepancies. A thorough search of the NFA’s official database returned no matching records, indicating that Monstrade is not authorized or recognized by the NFA. This undermines its claim of NFA regulation, which is a significant red flag.

Regarding the MSB registration, while we did locate an entity named Monstrade Financial LTD in the FinCEN system, it is crucial to understand that FinCEN does not regulate forex brokers or trading activities. An MSB registration solely relates to anti–money laundering compliance for money transmitters and does not confer any brokerage license or investor protection.

In reality, Monstrade holds no valid license from the NFA, or any other reputable financial regulator in the U.S. or elsewhere. Given these misleading claims and the absence of legitimate oversight, Monstrade exhibits strong indicators of being a fraudulent or unregulated broker.

We therefore strongly advise you to avoid any trading activity with Monstrade to protect your capital and personal information.