Is the MFSA FxOnUS warning untrue? Reporters are not always right, the human error is always looming. Hence, traders and investors need to watch out for fake news. In this case, we researched the issued warning on FxOnUs. What mistake was made here?
6 March, AtoZForex – Malta Financial Services Authority (MFSA) has become active again in issuing warnings to safeguard its investors. Over the weekend according to the news from some online sources, it was said that the regulator watchdog issued a warning against the Forex broker FxOnUs Limited. This warning was said to be followed by the MFSA risk warning regarding speculative financial instruments such as CFDs, binary options, and Forex.
Is MFSA FxOnUs warning untrue?
FxOnUs Limited is an international brand providing an MT4 trading platform. The company is one of the leading Forex brokers. Moreover, it offers a wide range of trading services including CFDs, metal trading, and Forex. In addition, the firm is associated with MarketOnUs Limited, an entity registered at the Marshall Islands with the registration number 81547. The Marshall Islands address mentioned is Ajeltake Road, Ajeltake Island, MH96960 Majuro, Marshall Islands. FxOnUs provides their online services via www.fxonus.com. Furthermore, the company claims its UK address as 3.11, Nwms Center, 3rd Floor; 31 Southampton Row, London, England WC1B 5HJ. Read below to find out if the MFSA FxOnUs warning untrue.
MFSA comments upon the FxOnUs warning
We did not find any warning on the MFSA website against FxOnUs Limited. Taking this matter into consideration, I had communication with the MFSA’s Manager of the Communications Unit, Mr. Keith Zahra. He later confirmed us that there was no such warning issued by the regulator. He informed me the following:
“Kindly note that the MFSA has not issued any Warning or any other notification with regards to the broker “FXOnUs”. The report on the other news outlets is, therefore, incorrect. However, you may wish to note that since our original communication, the article has been updated to reflect the correct authority that has issued the Warning.”
He added that the most recent warning issued by the MFSA was regarding the speculative products such as CFDs, binary options, and Forex. After that, they have not issued any warning.
Actual warning by Polish regulator (KNF) and not the MFSA
Later we learned that the actual warning was issued by the Polish Financial Supervision Authority (KNF) and not the Malta’s regulator MFSA. According to the KNF, FxOnUS Limited associated with MarketOnUs Ltd. is an unregistered entity in Poland. The Polish financial regulator is a public administration entity responsible for state supervision over Polish financial market.
Think we missed something? Let us know in the comments section below.