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Screenshot of a breaking news alert e-mail from Q2 2017
Belize financial regulator the International Financial Services Commission (IFSC) has issued a warning against retail forex broker TradeFXP, operating from website tradefxp.com.
According to the IFSC, TradeFXP shows on its website that it is holds a securities license from the IFSC, which apparently it does not. According to the IFSC, what is being displayed by TradeFXP (see below) is a forgery.
TradeFXP is indeed a company properly incorporated in the UK less than a year ago. According to UK regulatory filings, its sole director and shareholder is Indian national Zakeer Hussain.
The following is what we found on TradeFXP’s ‘About Us’ page:
The complete Belize IFSC warning reads as follows, and can also be seen here.
Office of the International Financial Services Commission,
Sir Edney Cain Building,
September 19, 2016
It has come to the notice of the International Financial Services Commission of Belize (IFSC) that an entity calling itself‘TradeFxP’ is falsely and fraudulently claiming to hold a trading in securities licence issued by the International Financial Services Commission of Belize.
We confirm that “TradeFxP” is not licenced by the International Financial Services Commission of Belize or any other competent authority in Belize to engage in any type of trading business.
The registration No. IFSC/602/325/TS/55 as displayed on TradeFxP’s website, https://www.tradefxp.com is a complete forgery.
All persons concerned are warned to take note and exercise extreme caution.
NERI J. MATUS (MRS)
International Financial Services Commission of Belize