ANSWER FinanceWise is an unregulated broker even though it states offers that look too good to be true.FinanceWise claims to be operated by Finance Wise International, a company supposedly regulated by the Cyprus Securities and Exchange Commission (CySEC). However, when we searched for this broker in CySEC's registry, we found it was listed as an unauthorized broker and warned by the regulator. You can check the full warning here. That means the regulatory information FinanceWise claims is a false statement to unsuspecting investors. Regarding your question, we would suggest not to trade with FinanceWise since it is an unlicensed broker. Letting this broker hold and control your funds or trading with them is very risky, as there are no safeguards in place to prevent fraud or theft. Therefore, we would recommend staying away from such unlicensed brokers as FinanceWise and trading with fully regulated brokers.
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