Page 1 of 1
ASIC launches civil proceedings against AGM Markets, cancels its license
Posted: Fri Nov 09, 2018 11:25 pm
by mlawson71
The Australian Securities and Investments Commission (ASIC) announced it has cancelled the license of retail OTC derivative issuer AGM Markets,
due to unethical conduct and unmanaged conflicts of interest. The Australian financial watchdog has also launched civil proceedings against the broker.
After it conducted an investigation on the company’s activity, ASIC listed eight reasons to cancel the license of AGM Markets Pty Ltd, the Australian arm of the brokerage.
The Australian regulator also clarified that AGM Markets’ AFS license will continue till the end of the year, so that the broker maintains its membership of an external dispute resolution scheme and stays covered by adequate indemnity insurance until this time.
Re: ASIC launches civil proceedings against AGM Markets, cancels its license
Posted: Fri Nov 09, 2018 11:34 pm
by Jimmy
Haha oh no! Another dodgy broker added to our
list. Apparently these guys offer FX trading through their two shitty companies
https://www.firstindex.com/#/ and
https://www.alpha.trade/.
Good work Mr Lawson!
Re: ASIC launches civil proceedings against AGM Markets, cancels its license
Posted: Fri Nov 09, 2018 11:48 pm
by mlawson71
The list of bucketshops is endless, it seems.
Re: ASIC launches civil proceedings against AGM Markets, cancels its license
Posted: Sat Nov 10, 2018 12:23 am
by Jimmy
mlawson71 wrote: Fri Nov 09, 2018 11:48 pm
The list of bucketshops is endless, it seems.
Yeah it's a shame. As long as we keep trying to get the word out and list those baddies we'll be doing our part to let others know bro!
Re: ASIC launches civil proceedings against AGM Markets, cancels its license
Posted: Sun Nov 11, 2018 12:40 am
by mlawson71
Jimmy wrote: Sat Nov 10, 2018 12:23 am
Yeah it's a shame. As long as we keep trying to get the word out and list those baddies we'll be doing our part to let others know bro!
I couldn't have put it better. Scammers must be exposed, always.
Re: ASIC launches civil proceedings against AGM Markets, cancels its license
Posted: Wed Nov 14, 2018 1:00 am
by mlawson71
You can add FSM Smart to the list of scammers.
Switzerland's regulator FINMA issued a warning against them for not being entered in their commercial register, despite claiming to be based in the country.
The same company also lists an address used by a number of other shady broker companies like iForex24, Banc De Monarch and AxeCC. Scammers can't even bother to be original.
Re: ASIC launches civil proceedings against AGM Markets, cancels its license
Posted: Wed Nov 14, 2018 3:48 am
by Krelian99
mlawson71 wrote: Wed Nov 14, 2018 1:00 am
You can add FSM Smart to the list of scammers.
Switzerland's regulator FINMA issued a warning against them for not being entered in their commercial register, despite claiming to be based in the country.
The same company also lists an address used by a number of other shady broker companies like iForex24, Banc De Monarch and AxeCC. Scammers can't even bother to be original.
Actually, the address of FSM Smart Limited - Ajeltake Road, Trust Company Complex, MH 96960, Ajeltake Island, Majuro – seems to be very popular among shady unregulated brokers...
Ajeltake Island? Never heard of that island but it seems to be nice and expensive there.
Re: ASIC launches civil proceedings against AGM Markets, cancels its license
Posted: Wed Nov 14, 2018 3:53 am
by Jimmy
mlawson71 wrote: Wed Nov 14, 2018 1:00 am
You can add FSM Smart to the list of scammers.
Switzerland's regulator FINMA issued a warning against them for not being entered in their commercial register, despite claiming to be based in the country.
The same company also lists an address used by a number of other shady broker companies like iForex24, Banc De Monarch and AxeCC. Scammers can't even bother to be original.
Excellent. Will do, thanks bro :shh: