ANSWER ETFX is not a licensed or regulated broker even though it states offers that look good to be true. ETFX claims to be operated by two companies - International (cyprus) ltd and Degrees Markets Ltd. International (cyprus) ltd is regulated by Cyprus Securities and Exchange Commission (CySEC). However, we did not find any matching results in CySEC. Degrees Markets Ltd is regulated by the Seychelles Financial Services Authority (Seychelles FSA). But when we searched in Seychelles FSA, we only found a warning against this broker for being an unlawful website. You can check the full warning from here.The truth is, ETFX is not overseen by any regulators. That means your personal data or your funds in this broker are unsafe and cannot be protected by any law. We would recommend traders stay away from unregulated brokers like ETFX and trade with licensed brokers.
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