AAFX Trading Isn’t Regulated in Hong Kong, Warns SFC

The Securities and Futures Commission (SFC), Hong Kong’s paramount securities and financial markets regulator, has issued a warning on AAFX Trading Capital for suspicious activity, according to an SFC statement.

AAFX Trading Capital / AAFX Trading Company Ltd, which operates through AAFXTrading.com, was added to the SFC’s alert list on suspicion of being unlicensed or unregistered in Hong Kong. The company claims to be registered with the department of economic development of Hong Kong and lists its principal place of business at Square 8 Connaught Place Central, Hong Kong.

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However, the SFC said that the unregulated firm is not located in the region although it may be using the details of a legitimate company to confuse investors. The regulator also said it uses a bank account in Hong Kong in the name of Yellow Sand International Ltd for Settlement Settlement Settlement in finance refers to the process when a buyer makes payment and receives the agreed-upon services or goods. The term is used on exchanges such as New York Stock Exchange (NYSE) when security changes hands. When the asset is transferred and placed in the new buyer's name, it is considered settled. This process could take a few hours or several days after a trade is made. It depends on the clearance process. In the United States, the settlement date for marketable stocks is usually 2 Settlement in finance refers to the process when a buyer makes payment and receives the agreed-upon services or goods. The term is used on exchanges such as New York Stock Exchange (NYSE) when security changes hands. When the asset is transferred and placed in the new buyer's name, it is considered settled. This process could take a few hours or several days after a trade is made. It depends on the clearance process. In the United States, the settlement date for marketable stocks is usually 2 Read this Term.

According to AAFXTrading’s website, the company claims to operate as a global Online Trading Online Trading Online trading represents the trading of fiat currencies, digital currencies, commodities, stocks and indices, where traders and investors intend to make a profit, via the purchase or sale of the aforementioned products. This is done through an electronic network, made accessible by brokers in the form of an online trading platform or hub.Online trading continues to see a rapid growth year on year, due to a number of reasons. Firstly, the number of brokers offering their services, with more mone Online trading represents the trading of fiat currencies, digital currencies, commodities, stocks and indices, where traders and investors intend to make a profit, via the purchase or sale of the aforementioned products. This is done through an electronic network, made accessible by brokers in the form of an online trading platform or hub.Online trading continues to see a rapid growth year on year, due to a number of reasons. Firstly, the number of brokers offering their services, with more mone Read this Term broker specializing in stocks, commodities, CFDs and currencies. It also states that the firm is licensed and regulated with major financial commissions worldwide, including in Malaysia and Saint Vincent and the Grenadines.

Presently, the SFC’s comprehensive Alert List features the names of businesses that have come to the attention of the watchdog because they are unlicensed in Hong Kong and are believed to be, or to have been, targeting Hong Kong investors or claim to have an association with Hong Kong.