The Official Website Of MagnaSale Trading Cannot Be Accessed Normally At The Moment. It Seems That The Company Has Closed Down. Therefore We Can Only Collect Some Relevant Information For Reference Only.
2021-10-21 Cyprus CySEC Adds MagnaSale Trading To Warning List
On October 21, 2021, The Cyprus Securities And Exchange Commission (CySEC) Issued A Warning Against MagnaSale Trading, Claiming That The Dealer Was Not Authorized By CySEC To Provide Investment Services.
You Can Visit The Following Website For Details: Https://www.cysec.gov.cy/CMSPages/GetFile.aspx?guid=62f4bc2f-74e3-4424-87b9 - 656614026d6f
2022-06-22 We Have Confirmed After Review That MagnaSale Trading Is An Unregulated Forex Dealer
MagnaSale Trading Claims To Be Regulated By The Cyprus Securities And Exchange Commission (CySEC) With Regulation Number 264/15. We Found A Licensed Company Named Magnasale Trading Ltd In This Regulator. However, Magnasale Trading Ltd's Approved Website Domain Is "magnasaleltd.com". Not "magnasale.org". This Means That MagnaSale Trading Is A Clone Company That Has Stolen Regulatory Information From The Licensed Company.
Furthermore, CySEC Has Issued A Warning Against MagnaSale Trading, Stating That The Broker Is Not Authorized By CySEC To Conduct Banking Business Or Provide Financial Services.
This Means That MagnaSale Trading Is Not Regulated By Any Regulatory Authority. It Is Not Safe For This Broker To Hold Or Control Investors' Funds And Investors Cannot Be Protected By Any Law. It Is A Fake Broker.
Since It Is Not Possible To Access The Broker's Website At This Time, We Are Also Unable To Obtain More Direct Details About Its Trading Assets, Leverage, Spreads, Trading Platform, Minimum Deposits, Etc.
As For Regulation, It Has Been Verified That MagnaSale Trading Does Not Currently Have Any Valid Licenses.
But Most Non-compliant Brokers Will Not Disclose To Provide Other More Direct And Truthful Contact Information, Such As Phone Numbers Or Company Addresses.
Note: MagnaSale Trading As A, Unregulated Broker, Which Means That Clients' Investments May Not Be Adequately Protected. Due To The Lack Of A Regulator To Hold Companies Accountable, The Lack Of Regulation Increases The Risk Of Potential Financial Losses.
If Investing In An Unregulated Broker, There Is A Good Chance That They Will Run Away With Your Hard-earned Money Without Any Recourse. Therefore, Investors Must Be Extremely Cautious When Selecting Traders, And Remind Everyone To Stay As Far Away From These Unregulated Brokers As Possible.
