Hong Kong’s Securities and Futures Commission (SFC) has updated its Alert List, with the latest additions including Forex brokerage IQSFX.
The company, offering its services via www.iqsfx.com, provides an address in Hong Kong, which is incomplete, the watchdog says.
Furthermore, the name of the company resembles that of IQS Financial Limited, a business entity which was until recently authorized by the UK Financial Conduct Authority (FCA). The SFC notes that IQSFX has no connection with the UK company.
That is why, the Hong Kong watchdog labels www.iqsfx.com as a suspicious website, adding that suspicious website operators often use names similar to legitimate companies to confuse investors.
To view the full warning list on SFC’s website, click here.