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XMR Markets is a South Africa-registered broker that holds an FSCA (Financial Sector Conduct Authority) license, number 46452. This is typically a good sign because it suggests the broker is subject to some form of regulatory oversight. However, the regulatory status is currently marked as "Unverified," which presents a significant issue. When I see "Unverified," it raises concerns about the legitimacy of the broker’s regulatory standing. It means that the broker is not fully recognized or validated by the relevant authorities, which increases the risk of dealing with them. Despite the fact that they claim to be licensed under FSCA, the unverified status makes me cautious. If I were to trust this broker with my funds, I would always have in the back of my mind that their status could change, and that could lead to financial uncertainty. In my opinion, while FSCA regulation is a good start, the lack of verification means I would need more evidence of their credibility before proceeding. When choosing a broker, regulatory transparency is essential for me, as it directly impacts my decision on whether the broker is trustworthy enough to handle my investments.