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Untomi Forex Trading

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Operating status: SCAM

Website: https://untomi.co/

Broker violations and abnormal records
  • 2023-09-03 BrokersView has reviewed that Untomi Forex Trading is an unregulated broker

    Untomi Forex Trading claims that it was founded in 2015, but its domain ("untomi.co") is first registered in April 2023. This contradictory situation is a red flag.

    While the platform claims to be headquartered in Japan and regulated by the country's Financial Services Authority (FSA), there are no corresponding records in the Japan FSA's database. It is a false statement.

    It even purports that it is regulated by the Financial Conduct Authority (FCA), Australian Securities and Investments Commission (ASIC), and the Cyprus Securities and Exchange Commission (Cyprus SEC). But we have been unable to locate a firm called Untomi in the registers of the abovementioned regulators.

    In essence, Untomi Forex Trading is not regulated by any governing body. Entrusting this broker with investors' funds is highly risky, as there are no legal protections in place to safeguard the funds. 

    Untomi Forex Trading is unequivocally a scam.

    Untomi Forex Trading claims that it was founded in 2015, but its domain ("untomi.co") is first registered in April 2023. This contradictory situation is a red flag.While the platform claims to be headquartered in Japan and regulated by the country's Financial Services Authority (FSA), there are no corresponding records in the Japan FSA's database. It is a false statement.It even purports that it is regulated by the Financial Conduct Authority (FCA), Australian Securities and Investments Commission (ASIC), and the Cyprus Securities and Exchange Commission (Cyprus SEC). But we have been unable to locate a firm called Untomi in the registers of the abovementioned regulators.In essence, Untomi Forex Trading is not regulated by any governing body. Entrusting this broker with investors' funds is highly risky, as there are no legal protections in place to safeguard the funds. Untomi Forex Trading is unequivocally a scam.

Related Complaints

Q&A Complaints

Is Untomi Forex Trading a scam or not?

Chavdar Langone
Oman
2023-10-10
ANSWER Untomi Forex Trading is a scam.Untomi Forex Trading says that it started its operations in 2015, but its domain ("untomi.co") was only registered in April 2023. This inconsistency is a warning sign.The platform asserts that it is based in Japan and supervised by the country's Financial Services Authority (FSA), but the Japan FSA's database does not have any matching records. It is a false claim.It also alleges that it is regulated by the Financial Conduct Authority (FCA), Australian Securities and Investments Commission (ASIC), and the Cyprus Securities and Exchange Commission (CySEC). However, we have failed to find a firm named Untomi in the registers of the aforementioned regulators.In short, Untomi Forex Trading is not under the oversight of any authority. Investing with this broker is very risky, as there are no legal measures to protect traders who engage with the platform. In order to mitigate such risks, it is advisable to stay away from Untomi Forex Trading and instead opt for a fully regulated broker.
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