IFSC Alerts Belizean Traders to Unlicensed Forex Brokerage

The International Financial Services Commission (IFSC), the Belizean financial regulatory authority, has alerted local traders of unlicensed 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 GNTFX. The 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 company has been soliciting clients and offering them financial services without a license.

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Not only did the broker approach clients without having been authorized by the Belizean regulator, but it further falsely claims an office at the Marina Towers in Belize City, Belize C.A.

Due to the illegal nature of its conduct, the online foreign exchange trading firm has been instructed by the IFSC to cease and desist from providing financial services and engaging in finance oriented activities. Offering such services in this manner is a violation of the law in Belize.

Traders are strongly advised against signing up with, funding an investing account at, or receiving any financial services or advice from this brokerage. The IFSC advises that clients exercise extreme caution when they encounter this company.

A few weeks ago, the Belizean financial watchdog warned traders against Trine Markets Group, which operates under the name TrineMarkets. It had been falsely claiming to be licensed by the IFSC. The online trading company was soliciting forex, CFDs, stocks, indices, and commodities trading to local clients.

The Belizean regulatory body has also alerted locals to 53 – Capital Trade and One Life Network Limited, as they too had been approaching the public and offering them financial services without the mandatory license.