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FMA warns against Forex broker Stella Markets

Maya Mandz | Mar. 25, 2019
FMA warns against Forex broker Stella Markets

March 25, 2019, | AtoZ Markets - Recently the Austrian financial regulator, the Financial Market Authority (FMA) has issued a warning against another Forex broker Stella Markets.

Forex broker Stella Markets in a brief

According to the information on the company's official website the Forex broker Stella Markets operates in the cryptocurrency and forex space via domain http://stellamarkets.com.

Along with the cryptocurrencies and Forex, the brokerage company claims to provide commodities, stocks, equities, and metals for trading. The firm also states that it is “unrivaled” in the financial trading market by a “distant margin”.

The entity is the subsidiary Goldstone Group Ltd and based in the St. Vincent & the Grenadines, according to the warning published on Saturday.

Stella Markets, not the first Forex trader red-flagged by the FMA

The FMA warning against the Forex broker Stella Markets says that Stella Markets “is not entitled to carry out banking transactions in Austria that require a license. The provider is therefore neither permitted to trade on a commercial basis on its own account or on behalf of others (Article 1 para. 1 no. 7 BWG).”

The warning against Forex broker Stella Markets follows on from the Austrian financial authority flagging Carter Financial Services as suspicious on Friday. According to the FMA, the firm is operating in the country without the proper authority.

In the warning, the Austrian regulator provided the following URL as attached the entity – www.carterfs.com.

Following this address, one is taken to a company which claims to offer to trade in a variety of assets – FX, commodities, stocks, and indices. On its website, the company states its vision as: “CarterFS was established as a way for traders to invest in Forex on a platform that is easy to use. It is our goal to make the trading process as simple and profitable as possible. Your success is a testament to our commitment to any investor who chooses to trade with CarterFS. That is why we strive to provide you with an expanding asset selection, dedicated support, and personal assistance”

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