Belize financial regulator IFSC has issued a number of Warning Notices regarding several Retail Forex and Binary Options brokers.
The IFSC noted that an entity calling itself ‘Binary/Forex Trade’ affiliated with ‘James Emiliev’ with address, Front Street, Spring City, Nashville Tennessee is falsely and fraudulently representing to hold an Expert Advisor / Consultancy / Advisory Services for Trading in Foreign Exchange issued by the International Financial Services Commission.
The IFSC stated that the licence presented by Binary/Forex Trade is a complete forgery, and that no person by the name of James Emiliev is regulated by the IFSC or any other competent authority in Belize.
Binary/Forex Trade is therefore directed to cease and desist from carrying on with the said unlicensed activities which constitute an offence under the laws of Belize.
Next on the IFSC’s warning list was GNTFX. According to the IFSC, an entity calling itself ‘GNTFX’ is falsely claiming to be at registered office address, Marina Towers, Belize City, Belize C.A. The representation made on the website gntfx.com to that effect and any correspondence received from GNTFX with the above mailing address is inaccurate and misleading.
GNTFX is not registered as a company nor licensed by the IFSC or any other competent authority in Belize to engage in any type of trading business.
GNTFX was directed by the regulator to cease and desist from carrying on with the said unlicensed activities which constitute an offence under the laws of Belize.
Last, the IFSC mentioned ‘SMARTTRADE SERVICES LIMITED,’ an International Business Company registered in Belize, which is conducting Forex Trading without first obtaining a licence from the IFSC.
This entity is not licensed/regulated by the IFSC or any other competent authority in Belize to conduct any type of trading business.
SMARTTRADE SERVICES LIMITED is therefore directed to cease and desist from carrying on with the said unlicensed activities which constitute an offence under the laws of Belize.