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Re: Brokers regulation ...
Posted: Thu Apr 19, 2018 1:22 am
by LazarR
totally agree with you, FrancoisT
Re: Brokers regulation ...
Posted: Sat Apr 21, 2018 12:15 am
by mlawson71
The Ontario Securities Commission (OSC) has published a warning against the forex and CFD broker Aidan Trading.
According to the regulator, Panama-based Aidan Trading Corp. also operating as Aidan Trading is not registered in Ontario, Canada to engage in the business of trading in securities.
The broker has already appeared in a warning from another Canadian regional regulator – the British Columbia Securities Commission earlier this year.
Re: Brokers regulation ...
Posted: Tue May 01, 2018 9:23 pm
by mlawson71
UK’s financial markets and services provider, the Financial Conduct Authority (FCA)
has published a warning against forex broker GreenFields Capital. The broker is doing business in the UK and targeting local citizens without having the required authorization, the FCA said.
The broker is owned and operated by Premium Peak Ltd T. The website provides two addresses: one in London, UK, and another in Prague, the Czech Republic, but mentions nothing about license, nor regulation.
Re: Brokers regulation ...
Posted: Fri May 11, 2018 9:56 pm
by mlawson71
The UK Financial Conduct Authority (FCA) has warned on Tuesday that Plus 500 Pro is a clone of the renown forex brokerage Plus500, which holds a license from FCA, among others. According to FCA, Plus 500 Pro is not authorized to carry out regulated financial services in the UK.
While the fraudulent broker does not explicitly state that it is regulated by FCA, there are claims that its clients would be covered by UK’s Financial Services Compensation Sceme (FSCS). The scheme, of course, is only applicable to clients of entities which are indeed licensed by the Financial Conduct Authority.
Re: Brokers regulation ...
Posted: Tue May 15, 2018 11:00 pm
by mlawson71
UK's Financial Conduct Authority added yet another forex broker to its warning list. According to the regulator, Royal Capital Pro has been providing financial services in the UK without their authorisation.
The broker is owned and operated by GoldTech Media Services OU, a company based in Estonia. Previously it claimed to be operated by Media Zone Solutions LP, a firm based in Glasgow, Scotland.
Re: Brokers regulation ...
Posted: Sat May 26, 2018 12:03 am
by mlawson71
The Financial Conduct Authority (FCA) has added several unregulated binary options brokers to its warning list.
According to the UK’s financial watchdog, Rbinary, BigOption and VIP Brokers have been providing financial services or products in the UK without its authorisation.
Rbinary does not mention the company that owns it, but claims it's registered on the Marshall Islands. It doesn't fail to mention, however, the large financial returns their services provide.
VIP Brokers is in the same boat - claims it's registered on the Marshall Islands, has several account types with promised returns from 81% to 92% (!!!!).
Nothing is known about BigOption.
Re: Brokers regulation ...
Posted: Mon May 28, 2018 11:52 pm
by FrancoisT
Perhaps BigOptions are the same scam
Re: Brokers regulation ...
Posted: Tue May 29, 2018 1:28 pm
by mlawson71
The UK Financial Conduct Authority (FCA) issued a warning against BrokerXP, ForexGrand and Golden Markets. These are the last forex brokers added to FCA’s list of companies who have been providing financial services in the UK without its authorization.
The first two are supposedly registered in the Marshall Islands an against ForexGrand at least there are client complaints that it is a scam, Golden Markets is supposedly registered in Estonia.
Re: Brokers regulation ...
Posted: Thu May 31, 2018 11:09 pm
by LazarR
I am amazed how offering unlicensed services is such a common practice In country such as UK, where FCA has the reputation as one of the most strict regulators in the industry.
Re: Brokers regulation ...
Posted: Fri Jun 01, 2018 10:22 pm
by mlawson71
Spain's financial markets regulator, CNMV, has warned of forex broker InvestMib earlier this week. According CNMV's official notice, this entity is not registered in the corresponding registry of the commission and, therefore, are not authorized to provide investment services.
The broker in question is, completely unsurprisingly, registered in Vanuatu, where it takes just $2000 initial investment to register a Forex broker.