Equitros claims that all its trading services are provided by Covenance Limited, a company reportedly authorized and licensed by the Mwali International Services Authority (MISA) under license number BFX2025087. While our verification confirms that MISA license BFX2025087 is indeed registered to Covenance Limited, the official registration lists only one authorized domain — https://covenanceglobal.com/. There is no evidence linking Covenance Limited or its MISA license to the Equitros platform. This strongly suggests that Equitros is misappropriating the regulatory credentials of a legitimate licensed company to falsely present itself as a regulated and trustworthy broker. Therefore, Equitros shows a huge risk of being a fraud.