Swiss Regulator FINMA Adds HandelFX to Warning List

The Swiss Financial Market Supervisory Authority (FINMA) has updated its warning list this week to include an entity operating within the foreign exchange (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) space - HandelFX Ltd.

In the warning, the Swiss regulator provides the company’s name, website address, and states that the entity is “not entered in [its] commercial register.” FINMA has not provided any further details regarding the warning.

However, when one looks at the front page of the warning page, the watchdog explains what type of entities might appear on the list. Namely, firms that end up on the list are entities that the regulator believes may be providing unauthorized services.

Any entity on the list has been investigated or is being investigated, by the Swiss authority. When investigations by FINMA reveal an imminent or considerable threat to investors, the providers involved are also entered in the list.

“The fact that a company is on FINMA’s warning list does not automatically mean that its activities are unlawful. Their entry in the list does, however, highlight the lack of authorisation. The companies and individuals in question will be removed from the list once FINMA has completed its investigations and taken any appropriate measures,” the regulator clarifies.

About HandelFX

Taking a look at HandelFX, which operates via https://www.handelfx.com/, the company claims to be a foreign exchange (forex) broker with many years of experience in the industry.

“Handelfx is a top online Forex broker with many years of experience in the market. Handelfx being a client-oriented company, places the needs of every one of our customers as its own priority. We are committed to providing all our investors a wide range of options when trading to help them become better at trading and also make profits,” the website states.

The FX broker states that it offers the opportunity to trade a range of assets - forex, futures, commodities, Cryptocurrencies Cryptocurrencies By using cryptography, virtual currencies, known as cryptocurrencies, are nearly counterfeit-proof digital currencies that are built on blockchain technology. Comprised of decentralized networks, blockchain technology is not overseen by a central authority.Therefore, cryptocurrencies function in a decentralized nature which theoretically makes them immune to government interference. The term, cryptocurrency derives from the origin of the encryption techniques that are employed to secure the netw By using cryptography, virtual currencies, known as cryptocurrencies, are nearly counterfeit-proof digital currencies that are built on blockchain technology. Comprised of decentralized networks, blockchain technology is not overseen by a central authority.Therefore, cryptocurrencies function in a decentralized nature which theoretically makes them immune to government interference. The term, cryptocurrency derives from the origin of the encryption techniques that are employed to secure the netw Read this Term, indices, stocks, and algorithmic trading.