WikiFX

Sagot

In my experience as a forex trader, I prioritize safety, reliable regulation, and transparent business practices when evaluating a broker. With MC900, I have serious reservations. The broker is registered in Cyprus and operates under the name Magic Compass, but there are multiple warning signs that make me extremely cautious. First, its regulatory claims are highly questionable—both CYSEC and FCA licenses are listed as "Unverified." This lack of credible, verifiable oversight is a major red flag for me because robust regulation is essential for protecting client funds and ensuring fair dealing. MC900 has been operating for just 2-5 years and carries high risk warnings, including a notably low WikiFX score, which reinforces my suspicions. The "suspicious regulatory license" and "suspicious scope of business" labels indicate there may be issues with the legitimacy and transparency of their business model. As someone who has seen a fair share of brokers overpromise and underdeliver, these warnings cannot be ignored—especially in an industry where unregulated entities often put traders’ capital at significant risk. While MC900’s business activity index is somewhat positive, this alone cannot outweigh the substantial drawbacks. Compared to well-regulated brokers with transparent histories, MC900 simply does not provide the level of trust or security I require to risk my capital. For anyone considering this broker, I would advise careful evaluation and, realistically, exploring more established and thoroughly regulated alternatives.