Japan’s Kanto Bureau Adds FXGlobe and Tradeview Markets to its Warning List

The Kanto finance bureau of Japan’s Ministry of Finance (MoF) has updated the warning list on its website to caution potential investors against about trading with two financial entities, FXGlobe and Tradeview Markets.

FXGlobe

FXGlobe is a is located at 61 Omirou St, Agios Nikolaos, Limassol, Cyprus and operates an online Forex Forex Foreign exchange or forex is the act of converting one nation’s currency into another nation’s currency (that possesses a different currency); for example, the converting of British Pounds into US Dollars, and vice versa. The exchange of currencies can be done over a physical counter, such as at a Bureau de Change, or over the internet via broker platforms, where currency speculation takes place, known as forex trading.The foreign exchange market, by its very nature, is the world’s largest tradi Foreign exchange or forex is the act of converting one nation’s currency into another nation’s currency (that possesses a different currency); for example, the converting of British Pounds into US Dollars, and vice versa. The exchange of currencies can be done over a physical counter, such as at a Bureau de Change, or over the internet via broker platforms, where currency speculation takes place, known as forex trading.The foreign exchange market, by its very nature, is the world’s largest tradi Read this Term trading brokerage via the url: www.fxglobe.com. The company was flagged by Kanto for soliciting its services to Japanese investors without having registered for financial instruments business in accordance with its guidelines.

According to FXGlobe’s website: “As a fully regulated broker we help customers of all levels around the world to step into the cutting-edge Margin FX and CDFs marketplace.”

However, while the broker is regulated with the Cyprus Securities and Exchange Commission (CySEC CySEC The Cyprus Securities and Exchange Commission (CySEC) is a financial regulatory authority of Cyprus. CySEC is one of the key watchdog authorities for brokerages in Europe, whose financial regulations and operations comply with the European MiFID financial harmonization law.Founded in 2001, CySEC is instrumental in providing licensing and registration for forex brokers and previously binary options providers.CySEC is responsible for a variety of different functions, which includes the supervision The Cyprus Securities and Exchange Commission (CySEC) is a financial regulatory authority of Cyprus. CySEC is one of the key watchdog authorities for brokerages in Europe, whose financial regulations and operations comply with the European MiFID financial harmonization law.Founded in 2001, CySEC is instrumental in providing licensing and registration for forex brokers and previously binary options providers.CySEC is responsible for a variety of different functions, which includes the supervision Read this Term), it is not registered with Kanto and does therefore not have the permission to conduct business in Japan.

Tradeview Markets

Tradeview Markets is located at Grand Cayman, KY 1-1108, 94 Solaris Avenue. Suite 1348 Camana Bay, Cayman Islands and operates online via www.tradeviewforex.com. A glance at the company’s website reveals that it is an online dealer/broker regulated by Cayman Island Monetary Authority (CIMA), providing services to institutional and professional traders for a wide variety of electronically traded products including stocks, options, futures, forex and CFDs on major indices and commodities such as gold and crude oil.

Once again and in a similar fashion, Tradeview markets has been soliciting potential investors in Japan without being registered.

Inaccurate Information/No Redress

Besides not having the required licences in Japan, Kanto has warned the public that the information obtained from the companies associated solicitation materials may be inaccurate and that the addresses provided may be false.

Investors are always able to check on the Japanese Financial Services Authority (JFSA) website to confirm if a company is registered and regulated in the country and should bear in mind that they will not be afforded the protections available to firms properly licensed and regulated in Japan. This in essence means that in the event they are scammed, there will be no means of redress.

Last month, Kanto also added binary options broker, Banco Capital to its warning list, for attempting to solicit traders via the internet. Today's additions are part of the agency’s continuing efforts to clamp down on unauthorised trading.