ANSWER Lotus International is an unregulated broker and should be avoided at all events. Lotus International claims to be authorised and supervised by the US National Futures Association (NFA) with registration number 0541105. We indeed found a matching result in NFA's registry, however, Lotus International is not overseen by the regulator as it is not an approved member of the regulator. As a forex trader, you must bear in mind that if a broker claims to be eligible to solicit US customers in forex activities, it must: 1) be accredited as an approved Forex Dealer Member of NFA; 2) admitted as a "retail forex exchange dealer." Obviously, Lotus International doesn't satisfy these conditions. That means, this broker is merely a registered firm rather than a regulated one and is not qualified to carry out such services. Therefore, it is thoroughly a scam. We would recommend you to stay away from Lotus International and any other unregulated brokerages, since they are not subject to necessary laws and principles of operation, resulting in a high risk to trade with them.
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