ANSWER Dear Investor,
Liyan Broker may be operating as a fraudulent entity.
It claims to be regulated in three jurisdictions: Saint Lucia, Saint Vincent and the Grenadines, and the United Arab Emirates (UAE). However, upon thorough investigation, we have found significant discrepancies and misleading statements in their claims.
First, while companies named Liyan Trading LTD and Liyan Trading LLC do appear in the registries of both the Saint Lucia International Financial Centre(IFC) and the Financial Services Authority (FSA) of Saint Vincent and the Grenadines, it is crucial to understand that these entities are registered solely as International Business Companies (IBCs). Neither the IFC nor the SVG FSA regulates forex activities. Being registered as an IBC does not equate to financial regulation, and presenting this status as proof of regulatory oversight is highly misleading and potentially deceptive.
Second, Liyan Broker claims to be regulated in the UAE and states it has an office in Dubai. However, our research shows no record of Liyan Broker with the two primary financial regulators in the UAE that oversee forex activities: the Securities and Commodities Authority (SCA) and the Dubai Financial Services Authority (DFSA). The absence of registration with these legitimate regulatory bodies further undermines their credibility.
Given these findings, Liyan Broker shows multiple characteristics of scam operations. Therefore, we strongly advise all investors to avoid using this platform for any investment activities. Engaging with such platforms may expose you to significant financial risks and potential loss of funds.
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