13 May AtoZForex, Vilnius – The Kanto finance bureau of Japan’s Ministry of Finance (MoF) today issued a public warning against FutureMake FX. The firm was operating via the website futuremake-fx.com. FutureMake FX is the latest firm to be added to the warning list of the local MoF bureau.
FutureMake FX was promoting their services to Japanese investors without any permission or authorization, they set up the Japanese website and were soliciting OTC derivatives transactions. The Forex broker claims to have two operating offices in Singapore and the Philippines. Furthermore, on their website, FutureMake FX insists that they provide a trading environment of their customers with security and safety.
Other Kanto Finance Bureau warnings
Aside the Kanto Finance Bureau warning on FutureMake FX. Earlier this week, the Japanese regulator included seven other Forex brokers and Binary Options to its exhaustive warning list. According to the Japanese regulator, all of the Forex and Binary Options brokers were unregistered in Japan. Despite this fact, the brokers still decided to solicit for Japanese investors.
Most of the blacklisted Forex and BinaryOption brokers have their addresses listed in countries like the Marshall Islands, the UK, Romania, BVI, and New Zealand. The Kanto Finance Bureau warning list comprises Trading Point (Seychelles) Limited (XM.com), TO88 LTD. (Trend Option), Star Material Asset Management.LTD (i Trader FX), Gallop Sea Limited (GALAXY Markets),Chemmi Holdings Limited (BinaryTilt), BINEXT SOLUTIONS SRL LTD (GBinarys) and Brilliant Stage Limited (Brilliant One Forex).
A note from the Japanese regulator
The Japanese regulator website mentioned that the information used in the warnings was collected from solicitation materials in the region. Hence, it might not be a hundred percent accurate. Despite having only the solicitation materials, the Japanese regulator did note that none of the red flagged companies actually possess over the necessary licenses in Japan. These companies may have regulation in other jurisdictions. However, in order to operate in Japan, they need to obtain the JFSA authorization.
Always protect yourself and execute the necessary checks. For the Japanese region, the investors can check whether the company is registered and regulated via the Japanese Financial Services Authority (JFSA).
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