FxGecko's top 100 forex brokers you can refer to for selection. If it is not in the top 100, you should pay special attention to the broker's main white label relationships and risk tips.

Today, I want to help you evaluate a Forex broker. Recently some investors have asked if this forex broker is legitimate and reliable.

The name of this broker is CloverGate Capital, the company is Clovergate Capital Limited, founded in 2023.

According to the information provided on the CloverGate Capital website, the broker has the following risk signals:

1. Regulatory Risk - Clovergate Capital holds a license issued by the Mwali International Services Authority of Moheli Island, Comoros Union. However, this small nation's regulatory body lacks credibility, with its regulatory strength falling far short of major financial centers like New York, London, and Hong Kong.

2. Low Transparency - Clovergate Capital's website lacks basic information about its background, team, etc., containing only vague marketing language, resulting in extremely low transparency.

3. No Operating History - As a newly established broker, Clovergate Capital lacks a long-term track record, making it difficult to assess its strength and service quality.

4. Potential Fund Safety Concerns - With an unfamiliar background and no long-term operating history, investors can hardly determine whether Clovergate Capital has sufficient capacity to safeguard client funds.

Therefore, as an emerging broker, Clovergate Capital poses significant risks in terms of regulation, transparency, operating history, and fund safety. Investors should exercise extreme caution when considering using its services.

Investing is risky. FxGecko recommends you to check broker information on FxGecko before investing and avoid high risk trading platforms.

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