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Based on my careful review of Renta 4, I must caution that, in my experience, regulation is a foundational safeguard for client funds and trader protection, and Renta 4 currently does not hold any valid regulatory license from financial authorities, neither in Spain nor abroad. To the best of my knowledge, the Comisión Nacional del Mercado de Valores (CNMV) is Spain’s financial regulator, and Renta 4 is not subject to CNMV oversight. Because of this, I cannot identify any meaningful regulatory measures from Renta 4 that would help protect my deposits or provide recourse if disputes or problems arise. The absence of regulation introduces significant risks for me as a trader. Normally, a regulated broker must adhere to strict standards such as client fund segregation, regular reporting, anti-fraud controls, and participation in compensation schemes. Without regulatory supervision, I cannot confidently rely on these industry-standard practices at Renta 4. As an experienced forex trader, I firmly believe that trust must be earned through transparency and regulatory compliance, not simply by being publicly listed or offering a wide range of services. Therefore, in my judgment, the lack of regulatory safeguards is a critical concern. I would be extremely cautious about entrusting funds to any financial entity that does not submit to independent oversight, as there are no guarantees regarding fund safety, fair dealing, or dispute resolution in such environments.