Tosal claims to be owned by Tosal Markets Limited, a company carrying a U.S. license supervision issued by the National Futures Association (NFA) with NFA number: 0549629. We indeed found a matching result in NFA's registry, however, Tosal is not overseen by NFA as it is not an approved member of the regulator. As a forex trader, you must bear in mind that if a broker claims to be eligible to solicit US customers in forex activities, it must: 1) be accredited as an approved Forex Dealer Member of NFA; 2) be admitted as a "retail forex exchange dealer." Obviously, Tosal doesn't satisfy these conditions. The truth is, Tosal is not under valid regulation by any regulators to provide investment services. Investors' funds in this company are unsafe and cannot be protected by any law. Therefore, it is a scam.