ANSWER We strongly advise against using ADVANCEDPROFIT, an unlicensed broker.The broker purports to be registered in St. Lucia, a jurisdiction where forex trading activities are not licensed. It fails to provide any valid regulatory information, which is a red flag for potential scams. Moreover, it has been flagged by two financial regulators - the Austrian Financial Market Authority (FMA) and the Comisión Nacional del Mercado de Valores (CNMV) - for operating without proper authorization, raising serious concerns about its legitimacy and credibility (access the FMA warning, and the CNMV warning).Given these circumstances, ADVANCEDPROFIT, as an unlicensed broker, presents significant risks. To protect yourself from such risks, we highly recommend avoiding ADVANCEDPROFIT and opting for fully regulated brokers instead.
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