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As someone who has spent years navigating the forex industry, I always pay close attention to a broker’s regulatory status before committing any funds. In M&G’s case, the firm is associated with a Financial Conduct Authority (FCA) license, which, under normal circumstances, would typically signal strong regulatory oversight because the FCA is known for its rigorous requirements on client fund segregation, transparency, and operational conduct. However, what stands out for me is that M&G’s license is currently in "exceeded" status—an indicator that it may no longer be fully compliant with the regulatory parameters originally set out by the FCA. In practice, this "exceeded" status means the core protections tied to FCA regulation—such as the safeguarding of client funds against broker insolvency and strict reporting obligations—could be compromised or no longer actively enforced for M&G. When a broker’s regulatory oversight is unclear, this inherently elevates the risk to my capital. Having experienced both well-regulated and poorly regulated brokers, I know that being able to verify ongoing, active regulation is crucial for trust and security. For me, the lesson is that although M&G initially operated under a respected regulatory framework, current warnings and the exceeded license status are red flags. I would not consider any broker without present and verifiable regulatory protection, especially when handling larger investments. Safety of funds is non-negotiable in my trading approach, and a broker’s up-to-date compliance is essential for me to feel secure.