ANSWER Dear Investor,
XBTFX claims to be regulated by the Seychelles Financial Services Authority (FSA) under License Number SD169. Our investigation confirms that a company by this name is indeed listed in the Seychelles FSA’s registry, and the registered website on file matches the platform in question.
However, it is important to note that the Seychelles FSA is an offshore regulatory body, typically characterized by lighter regulatory requirements and limited investor protection mechanisms. Consequently, holding a Seychelles FSA license should not be interpreted as a strong endorsement of the platform’s trustworthiness or the security of your funds.
Moreover, XBTFX has previously been included on the warning list issued by the National Securities and Stock Market Commission (NSSMC) for operating without the necessary authorization in that jurisdiction. This raises additional red flags, investors should be particularly cautious when dealing with such entities.
Given these concerns, we strongly advise exercising caution before engaging with XBTFX or committing any capital to its platform.
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