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From my own due diligence as a trader, I always prioritize understanding a broker’s regulatory status before considering any engagement. In the case of Cathay Futures, their oversight appears to come from the Taipei Exchange (TPEx), which is a recognized financial authority in Taiwan. This regulatory connection is significant for me because a license from TPEx means there is at least a formal framework of oversight regarding their dealing in futures contracts and leveraged foreign exchange trading. However, in my analysis, I'd want to see transparency about license numbers and full disclosure of regulatory details. While TPEx regulation does provide a basic level of official supervision and suggests Cathay Futures has met certain operational and financial requirements, the details available are somewhat limited—particularly since the specific license number isn’t publicized in what I've reviewed. Practically, Cathay Futures has been operating for over five years in Taiwan, which adds to its credibility, but as a cautious trader, I wouldn't ignore the note about a previous penalty case tied to the Futures Management Act. In summary, Cathay Futures is indeed overseen by the Taipei Exchange in Taiwan, but I would always recommend careful, independent verification and a conservative approach when considering them or any broker for margin trading.