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Capital MGM
On April 24, 2024, the Financial Conduct Authority (FCA) issued a warning against Capital MGM, believing this company might be providing financial services or products without proper authorization in the UK. https://www.fca.org.uk/news/warnings/capital-mgm
On April 24, 2024, the Financial Conduct Authority (FCA) issued a warning against Capital MGM, believing this company might be providing financial services or products without proper authorization in the UK. https://www.fca.org.uk/news/warnings/capital-mgmCapital MGM purports to be a globally regulated broker, asserting registration in Hong Kong SAR China and Cyprus, yet it provides no specific details. We conducted a search of the registers for both the Hong Kong Securities and Futures Commission (HK SFC) and the Cyprus Securities and Exchange Commission (CySEC), but found no records matching the company. This suggests that Capital MGM is not under the jurisdiction of these two financial regulators.
Furthermore, Capital MGM alleges to have a location in the UK. However, it has not secured the necessary authorization from the Financial Conduct Authority (FCA), leading to a warning issued by the FCA.
In essence, Capital MGM is not regulated by any governing body. Entrusting it with investors' funds is highly risky, as there are no legal protections in place to safeguard the funds.
Capital MGM appears to be a scam.
Capital MGM purports to be a globally regulated broker, asserting registration in Hong Kong SAR China and Cyprus, yet it provides no specific details. We conducted a search of the registers for both the Hong Kong Securities and Futures Commission (HK SFC) and the Cyprus Securities and Exchange Commission (CySEC), but found no records matching the company. This suggests that Capital MGM is not under the jurisdiction of these two financial regulators.Furthermore, Capital MGM alleges to have a location in the UK. However, it has not secured the necessary authorization from the Financial Conduct Authority (FCA), leading to a warning issued by the FCA.In essence, Capital MGM is not regulated by any governing body. Entrusting it with investors' funds is highly risky, as there are no legal protections in place to safeguard the funds.Capital MGM appears to be a scam.
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