Monzaee Capital is a scam?

https://monzaeecapital.com/

Dear Investor,

Monzaee Capital claims to be regulated and licensed by Monzaee Capital Limited, which reportedly holds a licence issued by the Anjouan Offshore Finance Authority (AOFA) in Comoros. However, AOFA is an offshore regulatory body known for its weak oversight and lack of international recognition. The jurisdiction offers limited investor protection, and its regulatory framework is generally considered to be unreliable by global financial standards.

Although we were able to confirm the existence of Monzaee Capital Limited within the AOFA registry, the AOFA does not list or verify the official domain(s) associated with the licensed entity. This absence of domain registration makes it difficult to confirm whether this platform is genuinely authorised under this licence.

Furthermore, it claims to have a physical address in the United Arab Emirates. However, a search of the UAE's recognised financial authorities, including the Securities and Commodities Authority (SCA) and the Central Bank of the UAE (CBUAE), found no results corresponding to Monzaee Capital Limited.

Given these concerns, we consider Monzaee Capital to pose a high risk to investors. Therefore, we strongly advise against engaging with this platform and recommend choosing brokers that are regulated by well-established financial authorities instead.