IFSC Flags Binary Options Broker, Bitcoin Mining Firm Over False Licenses

The International Financial Services Commission of Belize (IFSC) ‎today ‎issued a warning stating that a company calling itself BTCHOME Mining is ‎falsely claiming to hold International Business Company registration in ‎Belize.‎

BTCHOME claims to operate a regulated ECN/STP 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 brokerage service ‎that provides trading facilities to clients globally with an additional ‎focus on cryptocurrency mining. The fraudulent firm says it allows traders to ‎achieve more profits through reinvesting their funds in its Cloud Cloud The cloud or cloud computing helps provides data and applications that can be accessed from nearly any location in the world so long as a stable Internet connection exists. Categorized into three cloud services, cloud computing is segmented into Software as a Service (SaaS), Infrastructure as a Service (IaaS), and Platform as a Service (PaaS). In terms of trading, the versatility of the cloud service allows retail traders the ability to test out new trading strategies, backtest pre-existing conc The cloud or cloud computing helps provides data and applications that can be accessed from nearly any location in the world so long as a stable Internet connection exists. Categorized into three cloud services, cloud computing is segmented into Software as a Service (SaaS), Infrastructure as a Service (IaaS), and Platform as a Service (PaaS). In terms of trading, the versatility of the cloud service allows retail traders the ability to test out new trading strategies, backtest pre-existing conc Read this Term mining service ‎which offers an alternative to those who would like to engage in altcoin ‎mining activities.‎

In order to prevent such fraudulent practices, IFSC has ‎issued several guidelines which encourage potential ‎investors to be wary of promises of disproportionate ‎returns. A guaranteed investment with a high return that ‎considerably exceeds the market return is often too good ‎to be true, it says.‎

The ‎Belize regulator has also stepped up its fight against ‎binary options brokers. The latest addition to its blacklist ‎was ‘Matrix-Option,’ which operates through ‎https://www.matrixoption.com, and has been ‎cited today ‎for forgery over its ‎regulatory status. ‎

According to the IFSC, ‎‎all persons concerned ‎should exercise extreme caution and take note, as the ‎‎‎aforementioned entity is also fraudulently claiming to hold ‎a trading license in financial and commodity-based ‎derivative instruments and other securities licenses.‎

Typically, alleged scam entities in scenarios like this may ‎deny the accusations and make up excuses, perhaps that it ‎was an administrative error, but in this case the company ‎‎lists its regulatory status on its website and even ‎‎provides a link to a copy of its alleged IFSC license. ‎

Specifically, the IFSC warned that the company is posting on its website a ‎Certificate of Incorporation with the number IFSC/60/310/IME/16-344, carrying its name ‎and purporting to be incorporated in Belize, yet this certificate is a “complete ‎forgery,” the watchdog says. ‎