ANSWER Gales Bank is not a licensed or regulated broker even though it states offers that look good to be true.According to Gales Bank's website, the broker is located in the United Kingdom. As per United Kingdom law, almost all firms and individuals offering, promoting, or selling financial services or products in the UK shall be authorized by the United Kingdom Financial Conduct Authority (FCA). However, we did not find any matching results in FCA. That means Gales Bank is not an approved broker to offer financial services or products in the UK.Moreover, the Spain Comisión Nacional del Mercado de Valores (CNMV) issued a warning against Gales Bank was not authorised to provide the investment services. You can check the full warning from here.The truth is, Gales Bank 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 Gales Bank and trade with licensed brokers.
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