19 November, AtoZForex.com, Lagos –The International Financial Services Commission (IFSC) of Belize has been quite active lately, as it hunts down illicit activities from unauthorised companies in its jurisdiction.
A recent case involves the controversial announcement made regarding MFX BROKER Inc. On November 17th, the Belize financial watchdog informed the public via a statement on its website that MFX BROKER no longer has a valid license with the regulator. However, the IFSC omitted to clarify that MFX BROKER had changed its brand name to Master services Inc.
Master Services Inc.
The affected firm has clarified that MFX BROKER is owned by Master Services Inc. The brand boasts of 2 licenses from the International Financial Services Commission (IFSC) Belize. Hence, in the real sense, they did not suffer any actual license revocations of the company, as the firm did not get any notification to this effect.
In a bid to clarify the scenario, MFX BROKER Inc. mentioned that it has actually not carried out any business under this brand name in about two years. But has been carrying on operations under the name Master Services Inc, in various international regions.
President of MFX Broker, Igor Volkov further clarified that:
“In late 2013 we decided to work in several different countries around the globe on behalf of sole legal body. Master Services Inc. was registered for this purpose. The entity received all required licenses in Belize. We closed all other entities so that clients are not confused about the company they are working with. However, the regulator posted the information about the event just two years after the change, mainly the regulator announced information about MFX BROKER INC entity which is not active and was closed so far.”
License clarification
Further information on the company's licenses can be found on its website (https://mfxbroker.com/ru/aboutus/license), where the firm clarified that "the company is registered as an international private company under the registration number 138.716 in Belize City, Belize. The license for the provision of trade finance and commodity derivatives and other securities number IFSC / 60/296 / TS / 15 issued by the Commission on regulation of activities in the area of international financial services in Belize."
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