ANSWER If you are looking to engage with iMod Trade, we strongly suggest you drop that plan due to its status as an unlicensed broker, a trading platform posing significant risks to both funds and personal information.iMod Trade claims to be operated by iMod Trade & Investment Company Ltd under regulation by Swiss Financial Conduct Authority (SFCA). However, it's important to clarify that the financial watchdog responsible for regulating financial activities in Switzerland is the Swiss Financial Market Supervisory Authority (FINMA), and there is no known authority called SFCA. As such, the claim of being regulated by SFCA appears to be false.Furthermore, FINMA has issued a warning against iMod Trade as it does not exist on its commercial register.Given these discrepancies and the warning from FINMA, it is advisable for investors to exercise caution and avoid dealing with iMod Trade. Without regulatory oversight, investors are exposed to fraud or theft if using its services. Therefore, to mitigate such risks, investors are encouraged to opt for a fully regulated broker.
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