According to the latest Belizean regulatory public note, ICON Markets Limited Belize IFSC License is no longer valid. Thus, any operation within the country would be considered unregulated from now on.
3 January, AtoZForex – The financial regulator of Belize, the International Financial Services Commission has issued a new warning on its website. The Belizean watchdog has cautioned investors that one of the entities operating in the country has lost its trading license. More specifically, ICON Markets Ltd is no longer licensed by the regulator.
ICON Markets Limited Belize IFSC License is No Longer Valid
Effective from the January 1st, 2018, ICON Markets Ltd does not hold a trading license by the IFSC. The lack of license from IFSC will affect the operations of the entity on several counts. As of now, the company does not hold a license for “trading in financial and commodity-based derivative instruments and other securities or to engage in any other International Financial Services.”
The official warning from the IFSC states that ICON Market Limited is operating online via the following domains: names www.iconmarkets.com, www.hedgestonegroup.com, and www.rtcfinance.com.
The public note from the Belizean regulator does not elaborate on the details. It does not specify the reasons behind the event, as it also misses the information about the initiator of the process.
However, the warning makes sure to inform investors that getting involved with any of the mentioned websites would be considered as an unregulated operation. The IFSC further warns the investors’ community:
“All investors and other persons concerned are advised to take note and exercise caution.”
Latest Belize IFSC warnings
International Financial Services Commission is the Belize financial regulatory government agency. The watchdog is responsible for managing all financial market participants and exchanges. Moreover, the IFSC is administering and enforcing financial frameworks.
In one of its latest attempts to safeguard the financial markets’ participants, IFSC has published three different Warning Notices against unregistered Forex and Binary Options brokers operating in Belize.
That time, the Belizean regulator has brought the brokers operating under the name Binary/Forex Trade, GNTFX, and SMARTTRADE SERVICES LIMITED to our attention.
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