WikiFX

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From my own experience and the information I've found, MGM is not subject to oversight by any recognized financial regulatory bodies. Despite having operated in Pakistan for several years and offering a range of services, including equity brokerage, share custody, and online trading, MGM does not possess regulatory licenses from established authorities such as the FCA in the UK or ASIC in Australia. For me, the absence of regulation raises significant concerns about both the security of client funds and the broker’s adherence to international standards. As a trader, I prioritize transparency and regulatory oversight for the simple reason that these factors provide an added layer of protection. Without independent supervision, there is always a risk that a broker may not uphold fair trading practices or offer adequate recourse if issues arise. From what I’ve gathered, the lack of a valid regulatory license is a clear signal to approach MGM with caution. In my opinion, when evaluating a broker, I always prefer those who are regulated by reputable authorities, as this helps ensure that my interests—and those of other traders—are better safeguarded.