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In my experience as an independent trader, regulatory oversight is fundamental when considering a broker, especially for those that deal with a diverse array of products as Metaverse Securities does. Metaverse Securities is based in Hong Kong and historically has been associated with regulation by the Hong Kong Securities and Futures Commission (SFC). This is an established and reputable authority, which at first glance brought me some reassurance. However, on closer inspection, I found complexities. While they held licenses under the SFC for dealing in futures contracts and securities (licenses BSM300 and AAW177, respectively), there are notable concerns. Most importantly, the license AAW177 for dealing in securities is now listed as expired or “exceeded”, meaning it is no longer currently valid. Furthermore, there is an indication that Metaverse Securities may be operating beyond the intended business scope approved by the regulator. For me, these issues raise red flags regarding current regulatory coverage. Although some oversight from the SFC exists—particularly for their futures-related activities—this falls short of the robust regulatory environment I expect, especially with ambiguities about active licensing and scope of business. In my judgment, while some regulatory framework is in place, the situation warrants extra caution before committing any significant capital.