is gann markets in nigeria, are they regulated?

Just got introduced to Gann Markets forex broker, but I am skeptical; how safe are they for a Nigerian trader?

@segun_33 - 7 months ago

Gann Markets is regulated by Mwali International Services Authority (MISA) which is a low tier forex broker regulator thus making Gann Markets a high risk broker.

This same regulator (MISA) is the one that regulates Octafx in Nigeria.

Let us be clear, I am not saying Gann Markets is a scam, i am just saying the regulatory body that licensed them is not world-class and may not be very strict in auditing them and checking their excesses.

Gann Markets accepts Nigerian traders although they have no representative office in Nigeria.

One red flag i noticed about Gann Markets is that in their account opening terms and conditions there is no mention that they are regulated by MISA and this is supicous. Read their terms and conditions here https://gannmarkets.com/upload/pdf/terms_and_definitions.pdf

Usually when you read account opening agreements of brokers, they proudly state the name of the body that regulates them.