Cheonan International is an UNREGULATED broker and should be avoided at all events. Cheonan International presents zero details about its regulation and necessary trading documents (i.e. terms and conditions, privacy policy, risk disclosure, etc.). Lacking for such vital information is already a huge red flag for potential traders.
Besides, this broker claims to be owned and operated by CHEONAN INTERNATIONAL LIMITED, an entity incorporated in the United Kingdom and registered with the Companies House (CH). However, CH is only the UK's registrar of companies rather than the regulator that approves licenses for brokers in the UK. The truth is, there is no regulatory information about Cheonan International can be found in the register of the UK's financial Conduct Authority (FCA), as well as any other financial regulators.
What's worse, the Singapore's regulator MAS and the Spanish regulator CNMV have successively added Cheonan International to the alert list to warn the public that this firm is not authorised to provide the investment services in their countries. You can check full alert or warning from MAS and CNMV on Cheonan International respectively.
As per the evidences above, our final conclusion is that Cheonan International is thoroughly a scam on account of running its business without any relevant license approved by a reputable regulator. Therefore, we would recommend traders to stay away from unregulated brokers and trade with licensed brokers.
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