IFSC Warns Against Belize Based Broker Due to Forged License

The International Financial Services Commission (IFSC) of Belize has released a statement warning locals and traders alike that Broker Fixed Star lnlvestment Inc. [sic] is operating under a fake license. The company falsely claims to own a trading in securities license from the Belizean regulator, going so far as to showcase the forged document on the website in an attempt to fool clients regarding its status. The IFSC further noted that none of the other local regulators have issued the broker a certificate to proceed with any 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 operations either.

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Fixed Star Inlvestment Inc. is also known as Fixed Star Group, and it claims an address at Withfield Tower Third Floor 4792 Coney Drive, Belize City. This broker promotes itself as a firm which trades 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, CFDs, energy, and precious metals. The false license raises quite a few red flags.

More than a Single Occurrence

This situation is not a first for the IFSC, as Finance Magnates has covered several other similar instances. Just last month, the regulator warned against two companies, Club Fast Coin and TRADEEX LTD. The latter of the two brokers made the same faux pas as Fixed Star Inlvestment has, displaying a fake certificate on its website. Another such situation occurred at the end of March, when yet another firm by the name of Premier Point Marker falsely claimed to be authorized in Belize.

As of now, it remains unclear whether the brokers themselves are forging licenses similar to those issued by the IFSC, or if there is a third party involved.