Mic Market Review: Is It a Legitimate Broker or a Scam?
This Mic Market review will delve into the platform’s claims, assess its regulatory status, and determine whether it is a reliable broker or a potential scam.
Website: https://micmarkfx.com/
Website Availability: No
Domain Age:
- Name MICMARKFX.COM
- Registry Domain ID 2804731843_DOMAIN_COM-VRSN
- Registered On 2023-08-10T08:02:05Z
- Expires On 2025-08-10T08:02:05Z
- Updated On 2024-12-09T09:46:08Z
Overview
Mic Market positions itself as a regulated broker offering a variety of financial products such as forex, CFDs, and commodities. The platform claims to be regulated by prestigious bodies such as the National Futures Association (NFA), the Cyprus Securities and Exchange Commission (CySEC), and the Financial Services Conduct Authority (FSCA). It asserts that it adheres to global standards for client protection and transparency.
Despite these claims, a closer look at the broker raises several red flags that suggest Mic Market may not be as legitimate as it purports to be.
Is Mic Market Legit or a Scam?
Upon investigating the broker’s regulatory status, the Mic Market review raises serious concerns about its legitimacy. The broker claims to be regulated by multiple reputable authorities, including the National Futures Association (NFA), but no matching information was found in the NFA database. This inconsistency is alarming, as legitimate brokers are required to be listed in the NFA registry.
Further scrutiny revealed that the information provided about the broker’s regulation by CySEC and FSCA does not match the details of actual regulated brokers on file with these authorities. In fact, the broker appears to have used the registration details of compliant firms, suggesting that Mic Market has stolen the identities of legitimate brokers. This type of misleading behavior is a clear indication of unreliability.
Moreover, the New Zealand Financial Markets Authority (FMA) has issued a warning against Mic Market, noting that it is not registered or licensed to offer financial trading services in New Zealand. This warning further reinforces the suspicion that Mic Market is operating without the necessary legal authorizations in various regions.
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