ID MINING is an unlicensed broker that we advise against trading with, despite the seemingly attractive deals it offers.
ID MINING, in an attempt to appear legitimate, displays an incorporation certificate of CLOUD TECHNOLOGY LIMITED, issued by the Companies House (CH), with company number 09674619. While it is true that we found matching data on the CH register, investors should be aware that the CH only serves as a registrar of companies in the UK and has no authority to issue licenses for financial activities.
ID MINING, as a forex broker, is required to obtain authorization from the UK Financial Conduct Authority (FCA) before they can solicit investors. However, our search for this broker in the FCA registry didn't yield any results, indicating ID MINING is operating in the absence of proper authorization.
Regarding your question, ID MINING is an unlicensed broker and thus carries significant risks including financial losses and identity theft. There are no rules in place to safeguard investors' interests. Therefore, we strongly suggest investors stay away from unlicensed brokers like ID MINING and instead choose a fully regulated one to mitigate such risks.
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