Belize Regulator IFSC warns against two brokers with fake licenses. The regulator notes that the entities are claiming to have the trading licenses from the IFSC, which, in reality, they do not hold.
2 March, AtoZForex – The primary financial regulator of Belizean markets, the International Financial Services Commission (IFSC) has published two warnings about a number of Retail Forex and Binary Options brokerages. The regulator notes that the entities are claiming to have the trading licenses from the IFSC, which, in reality, they do not hold.
Belize Regulator IFSC Warns against Brokers with Fake Licenses
One of new the entities on the warning list of the IFSC calls itself FXBrokerPro Ltd. The company operates online via fxbrokerpro.com website. According to the information on its website, FXBrokerPro Ltd. “is Company that was founded by the most experienced market analytics specialists.”
The entity claims to have an office in the UK. As per the official warning from the IFSC, the entity is claiming to have a license from the regulator. However, it appears that it is presenting a fake IFSC license number IFSC/60/256/TS/17.
Another broker’s name is Lead Options. The firm is also operating online through the website leadoptionsb.com.
The company’s website claims that the entity holds multiple regulator licenses – in Cyprus from CySEC, in the US – from an unknown regulator FSB, and in Belize from IFSC. Yet, none of these licenses are genuine. According to the IFSC, the Lead Options is presenting two fake IFSC license numbers: IFSC/60/341/TS and IFSC/60/341/APM.
Latest Warning from IFSC
Earlier this February, the Belizean watchdog has cautioned investors against dealing with the company calling itself LittInvest LTD.
According to the regulator, the company is operating online via the website littinvest.com. The IFSC has warned that the entity is falsely claiming to have an international Business Company registration in Belize. However, the regulator notes, the firm does not hold any license or registration by the commission or any other authority in the country.
The broker has been soliciting to the Belizean citizens without any authorization to do so by the Belizean regulator. In addition, it also falsely claimed to hold registration with the Financial Services Authority of Saint Vincent and the Grenadines.
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