NIYAFA FX claims to operate as NIYAFAFX Ltd and states it is registered with the Money Services Business (MSB), which we have verified. However, it is critical to note that MSB registration, administered by FinCEN, is solely for anti-money laundering compliance and does not authorize or regulate forex trading activities. In the United States, the National Futures Association (NFA) is the sole authority responsible for licensing and overseeing forex brokers, and our check confirms that NIYAFA FX is not registered or regulated by the NFA. Furthermore, the platform appears to lack oversight from any recognized financial regulator, which is a major red flag and strongly indicates a high risk of fraudulent operations.