Belize IFSC warns against TradeFxP: Fake securities license


Belize IFSC warns against TradeFxP, the Forex broker was falsely claiming to have a legitimate securities license. Are you trading with the Forex broker? Think twice. 

20 September, AtoZForex – The Belize International Financial Services Commission (IFSC) has apprehended yet another entity this week. The entity known as TradeFxP was caught forging regulatory documents and falsely claiming to be regulated.

Belize IFSC warns against TradeFxP

TradeFXP operates online via tradefxp.com and claims the following address: 20-22 Wenlock Road, London, N1 7GU, England. Additionally, the firm indicates the presence of securities license on its website, supposedly acquired from IFSC. However, the regulator did not issue any securities license for TradeFxP. The Belize regulator states that what is being displayed by TradeFxP is a forgery.

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The retail Forex broker is, in fact, a properly incorporated firm in the UK. According to the UK regulatory filings, Tradefxp Ltd is a Private Company Limited by Shares first registered on 21 October 2015. Its current registered address is in London.” The director of TradeFxP is Indian national Zakeer Hussain.

The official warning from IFSC

The official warning notice from Belize financial regulator states the following:

“It has come to the notice of the International Financial Services Commission of Belize (IFSC) that an entity calling itself‘TradeFxP’ is falsely and fraudulently claiming to hold a trading in securities license issued by the International Financial Services Commission of Belize.”

The regulator, therefore, confirms that “TradeFxP” is not licensed by the International Financial Services Commission of Belize or any other competent authority in Belize “to engage in any type of trading business.”

Furthermore, the Belize watchdog is stating that the TradeFxP has displayed the following registration number on their website: IFSC/602/325/TS/55.

Moreover, the International Financial Services Commission of Belize warns all persons concerned to take note and exercise extreme caution. AtoZForex has reached out to both the regulator's and broker's officials and currently is waiting for the response.

If you are planning to start trading and opening an account, you will need always to double check the broker with your local regulator. Here at AtoZForex, we have the aim to help traders and have tested numerous of the broker on strict criteria, such as account opening practices, execution, withdrawal, regulation, compliance matters and more. Check which brokers are AtoZ Approved for reliable services and avoid being scammed.

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