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BitForex is not regulated by any effective financial authority, which raises concerns for me when it comes to security and legitimacy. While the platform offers a range of crypto assets and has been operational for a few years, its lack of regulation makes it a risky option. For traders like me, regulation is crucial because it ensures the broker follows industry standards and offers protections for client funds. In my view, BitForex may not be the safest choice, and I would suggest looking for a regulated broker that provides better protection for my investments.