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Based on my own due diligence and experience reviewing brokers, I found that CMS operates as a securities company registered in Hong Kong. According to the information available, CMS is regulated by the Hong Kong Securities and Futures Commission (SFC) and holds a license for dealing in futures contracts. This regulation by the SFC does provide some degree of oversight, particularly relevant for clients interested in trading Hong Kong futures, equities, and related products. However, I noticed that CMS previously held an investment advisory license from the UK’s Financial Conduct Authority (FCA), but this UK license has since been revoked. The revocation of a regulatory license, especially with a respected authority like the FCA, is something I personally consider a significant red flag and always factor into my risk assessment. It is one reason I proceed very cautiously, even when a broker claims oversight elsewhere. What is especially important for me—as a trader whose capital safety is paramount—is recognizing both the current regulatory stance and any potential risks raised by recent user complaints or reports of suspicious activities or account issues. In the case of CMS, despite SFC regulation, my approach would be conservative until there is unequivocal clarity and stability in their regulatory relationships and operational transparency.