Forex trading is very profitable but also highly risky and prone to fraud. In a market as vast as the forex, with little regulation and oversight, how long will it take for fraudsters to create new means of robbing innocent traders? Today’s article outlines some ways of preventing forex frauds. This article aims at helpingRead More
Category: Regulation
FMA of Austria warned against Prestige Financial Markets and FX Crypto Club
The Austrian Financial Market Authority (FMA) warns the public against the activities of two forex brokers Prestige Financial Markets and FX Crypto Club. These companies have been offering investments without complying with Austrian financial legislation. According to the official statements, these brokers are not entitled to carry out banking transactions in Austria that require aRead More
New Zealand’s FMA warns against SL Markets and Vowfx brokers
The Financial Markets Authority (FMA) of New Zealand, the government agency responsible for financial regulation, have issued warnings against SL Markets and Vowfx brokers. The regulator states the companies are not registered, licensed, or regulated in New Zealand and are not registered on the FSPR. The Financial Markets Authority (FMA) plays a critical role inRead More
Spanish CNMV warns of WiseFunds and Just Perfect Markets
Spain’s financial markets and services regulator CNMV has issued warnings against two forex brokers WiseFunds and Just Perfect Markets. According to the public warning notices, these entities are not authorized to provide investment services or investment advice and auxiliary services, including foreign currency transactions in Spain. The National Securities Market Commission (often abbreviated as CNMV)Read More
New Zealand’s FMA warns against Selected Markets and GG Trade
The Financial Markets Authority (FMA) of New Zealand, the government agency responsible for financial regulation, have issued warnings against Selected Markets and GG Trade brokers. The regulator states the companies are not registered, licensed, or regulated in New Zealand and are not registered on the FSPR. The Financial Markets Authority (FMA) plays a critical roleRead More
CySEC has started the compensation payment process for PFX Financial Professionals Ltd clients
The Board of the Cyprus Securities Exchange Commission has announced that it started the initiation of the compensation payment process by the Investor Compensation Fund for Clients of IFs (I.C.F), clients of PFX Financial Professionals Ltd. The company operates the brands FXFINPRO Capital and FINPROINVEST. As we have previously posted, that in October 2018 hasRead More
Italian CONSOB has banned RoyalBanc and Finantik brokers
Italy’s financial markets and services provider regulator CONSOB has updated its list of forex brokers who are not licensed to operate in Italy. RoyalBanc and Finantik happened to get into the list. These firms have been offering investment services and activities to the Italian public without being authorized in the country. Commissione Nazionale per leRead More
FXonspot and Lincoln FX ended up in the FCA’s warning list
The UK’s Financial Conduct Authority (FCA) has issued warnings against FXonspot and Lincoln FX. The regulator said the brokers have been providing financial services and products targeting people in the UK without being licensed. The Financial Conduct Authority (FCA) is a financial regulatory body in the United Kingdom, but operates independently of the UK Government,Read More
The FCA warns against AGMarket and Kodimax brokers
The UK’s Financial Conduct Authority (FCA) has issued warnings against AGMarket and Kodimax. The regulator said the brokers have been providing financial services and products targeting people in the UK without being licensed. The Financial Conduct Authority (FCA) is a financial regulatory body in the United Kingdom, but operates independently of the UK Government, andRead More
Austria’s FMA has warned against Swissinv24 and FX NextGen
The Austrian Financial Market Authority (FMA) warns the public against the activities of two forex brokers Swissinv24 and FX NextGen. These companies have been offering investments without complying with Austrian financial legislation. According to the official statements, these brokers are not entitled to carry out banking transactions in Austria that require a licence. The AustrianRead More