BrokersView has reviewed that Almahfaza is an unregulated forex broker Almahfaza claims to be a regulated provider of financial services with the relevant compliance licenses respectively issued by the Marshall Islands Registry (IRI), the Seychelles Financial Services Authority (FSA Seychelles) and the UK's Financial Conduct Authority (FCA). However, it’s actually not regulated by any financial regulator when we checked on IRI, FSA Seychelles and FCA. That means investors’ funds in this broker is unsafe and cannot be protected by any laws. Therefore, it is a scam broker.

Please check if Almahfaza is legit? I couldn't get in touch with their customer support. Please assist. Almahfaza is not a legit broker and should be avoided at all events. Almahfaza claims to be a regulated provider of financial services with the relevant compliance licenses respectively issued by the Marshall Islands Registry (IRI), the Seychelles Financial Services Authority (FSA Seychelles) and the UK's Financial Conduct Authority (FCA). However, the broker's statement proved to be nothing but fake. Fisrtly, IRI does not issue any licenses for forex trading or brokerage nor does it regulate, monitor, supervise or license international companies engaging in such activities. That means, traders should keep away from brokers related to IRI as they are not under valid license for operating forex trading. Then, when checking on IRI, FSA Seychelles and FCA, we found no regulatory information of Almahfaza. That means investor' funds in this broker is unsafe and cannot be protected by any laws. Therefore, it is thoroughly a scam. We would recommend you to stay away from Almahfaza and any other unregulated brokerages, since they are not subject to necessary laws and principles of operation, resulting in a high risk to trade with them. View Source