ANSWER When selecting a forex broker, the priority is to verify its legitimacy. Given Cosmo Traders is an unlicensed broker, we strongly suggest you drop the plan to trade with it.Cosmo Traders lacks transparency, providing no company details for investors to reach out to them. There is only a web form for communication, making it hard to trace if needed. The Comisión Nacional del Mercado de Valores (CNMV) has added Cosmo Traders to its warning list for operating without the authorization. With no regulatory oversight, investing in Cosmo Traders is risky due to the absence of legal protections. Investors are strongly advised against engaging with Cosmo Traders to protect themselves from potential fraud schemes. It is recommended to choose fully regulated brokers.
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