Reported Website: https://mtmotr.com/
Montel Group claims that it is under the supervision of the US Financial Crimes Enforcement Bureau MSB, and is also registered in the US NFA. However, despite its claims, this broker doesn’t fall under valid regulation for the following reasons. 1) The US Financial Crimes Enforcement Bureau MSB does not regulate forex markets nor does it issue licenses for brokers engaging in such activities. 2) We indeed found a result matching this broker in NFA’s registry, however, Montel Group is not overseen by NFA as it is not an approved member of the regulator. As a forex trader, you must bear in mind that if a broker claims to be eligible to solicit US customers in forex activities, it must: 1) be accredited as an approved Forex Dealer Member of NFA; 2) be admitted as a “retail forex exchange dealer.” Obviously, Montel Group doesn’t satisfy these conditions.
