Maltese Financial Markets Regulator Warns Global Capital Markets FX Ltd Not Licensed

According to a notice put out by the Malta Financial Services Authority (MFSA) today, a company under the names FxGcmi, Global Capital Markets FX LLC or Global Capital Markets FX Ltd, with an internet presence at www.fxgcmi.com purports to hold a Category 3 license with the MFSA – but no such registration or licenses exist according to the public warning of the false and misleading information coming from this website.

Accordingly, the MFSA warns the public against entering into any transactions or otherwise dealing with this entity, as it is not even a company registered in Malta nor is it licensed by the MFSA to provide any financial service, as per the official press release.

There have been a few announcements made by the MFSA in the last few months concerning such warnings as well as actions against some of its regulated members, as the watchdog tries to step up its efforts to make its jurisdiction an even more attractive international regulatory Hub Hub A hub as its name suggests describes the center of activity or a focal point. In terms of finance, the term hub can refer to Hub and Spoke Trading or a liquidity hub. However, the terms are not interchangeable, but they do overlap. Hub and Spoke trading refer to a network that posts bids and offers for an asset and therefore creates a real market. For example, Hub and Spoke trading allow traders to see the other submissions and offers from other traders on the platform. This is a popular method A hub as its name suggests describes the center of activity or a focal point. In terms of finance, the term hub can refer to Hub and Spoke Trading or a liquidity hub. However, the terms are not interchangeable, but they do overlap. Hub and Spoke trading refer to a network that posts bids and offers for an asset and therefore creates a real market. For example, Hub and Spoke trading allow traders to see the other submissions and offers from other traders on the platform. This is a popular method Read this Term.

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 Magnates' reporters have recently spoke with a company spokesperson at MFSA with regards to the process involved in investigating such announcements, they said, "The MFSA regularly monitors the financial services sector taking into consideration all available sources of information. Warnings are issued on a case by case basis when it is considered necessary to alert the public about unregulated provision of financial services in or from Malta."

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