Dear Sir/Madam,
Are you referring to MEX Atlantic at https://mexatlantic.com/?
The website says it is operated by MEX Atlantic Corporation, a company regulated by the Cayman Islands Monetary Authority (CIMA) with Licence Number 1811316. While we did find corresponding records in the CIMA database, it is critical to note that the regulator doesn't provide details including registered domain, company address, phone number, and email for investors to verify. Therefore, there is no guarantee that the CIMA-licensed entity is the one who operates and manages website https://mexatlantic.com/. Put simply, since the information provided by the CIMA is limited, we cannot confirm that the website thereof is affiliated with MEX Atlantic Corporation. Please beware of the risks involved and exercise extreme caution while selecting a broker.
Furthermore, MEX Atlantic mentions that it is part of MultiBank Group. We have contacted the latter, and they confirmed that they are associated. However, while MultiBank Group is regulated, it has been red-flagged by the UK Financial Conduct Authority (FCA) for illegally offering financial services or products in the UK without the required authorization. The full warning can be accessed here. A financial regulator's warning is a key factor when considering a broker's reliability, suggesting a platform's credibility and risks. If a platform has been warned by a regulatory body, it is advisable to think long and hard before making an investment decision.
Therefore, despite having a license, Mexatlantic doesn't appear to be a safe choice for investors. It is weakly regulated. To mitigate risks, we strongly recommend choosing a fully regulated broker.
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