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In my experience as a trader who prioritizes safety and transparency, the most critical concern I have with Renta 4 is its complete lack of valid financial regulation. Despite being based in Spain and presenting itself as a publicly listed bank, Renta 4 is not authorized or regulated by the CNMV or any recognized financial authority. For me, this alone constitutes a high-risk situation—when a broker handles client funds or offers trading services without oversight, investors face significantly higher risks regarding fund security and dispute resolution. Another point I can't overlook is the "suspicious regulatory license" and overall "suspicious scope of business" highlighted in recent evaluations. When a broker operates for years doing asset management, fund management, and brokerage without regulatory backing, I have to question their internal controls and risk management standards. The reported high potential risk rating on their profile adds to my sense of caution. Furthermore, there’s a lack of clear, accessible information about fees and trading conditions, making it harder for me to assess cost transparency or true trading costs. Overall, based on my analysis, the absence of regulatory oversight and transparency means the risks with Renta 4 outweigh any potential benefits for me. For anyone considering them, extreme caution is warranted, and I would not personally trust my capital to an unregulated provider.