Hong Kong Regulator Adds Kimzeen Forex Management to its Alert List

Hong Kong’s Securities and Futures Commission (SFC) today warned investors about an entity that has been offering its services without having the authorisation to do so, and has added the offending company to its Alert List.

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Kimzeen Forex Forex Foreign exchange or forex is the act of converting one nation’s currency into another nation’s currency (that possesses a different currency); for example, the converting of British Pounds into US Dollars, and vice versa. The exchange of currencies can be done over a physical counter, such as at a Bureau de Change, or over the internet via broker platforms, where currency speculation takes place, known as forex trading.The foreign exchange market, by its very nature, is the world’s largest tradi Foreign exchange or forex is the act of converting one nation’s currency into another nation’s currency (that possesses a different currency); for example, the converting of British Pounds into US Dollars, and vice versa. The exchange of currencies can be done over a physical counter, such as at a Bureau de Change, or over the internet via broker platforms, where currency speculation takes place, known as forex trading.The foreign exchange market, by its very nature, is the world’s largest tradi Read this Term Managment Ltd

Kimzeen Forex Management came under scrutiny by the watchdog after it solicited its trading services without a licence. The company, which operates online via www.jz-bo.com, offers a combination of binary options and Forex Trading Forex Trading Forex trading is the buying and selling of foreign currencies with the aim of generating a profit. The value of currencies, especially floating currencies, fluctuate to varying degrees. This constant volatility of exchange rates opens the door for speculators to invest in a certain currency against another. The Forex market is the world’s biggest and most liquid market, with over $5 billion turnover every single day, with the market being open 24 hours a day, 5 days a week.It goes without saying Forex trading is the buying and selling of foreign currencies with the aim of generating a profit. The value of currencies, especially floating currencies, fluctuate to varying degrees. This constant volatility of exchange rates opens the door for speculators to invest in a certain currency against another. The Forex market is the world’s biggest and most liquid market, with over $5 billion turnover every single day, with the market being open 24 hours a day, 5 days a week.It goes without saying Read this Term services.

Its three addresses are listed as 22 Elphinstone Street Kincardine Fife, UK; Room 2103A, 21/F, Easey Commercial Building, 253 – 261 Hennessy Road, Wan Chai, Hong Kong and 21/F, Success Commercial Building, 253 – 261 Hennessy Road, Wan Chai, HongKong but the company is not located at any of these premises.

Kimzeen Forex Management is one of several brokerages to come under fire by the SFC recently. Carlson-Schmidt Securities was the last company to be red-flagged by the watchdog after promoting its trading services without a licence, as reported by Finance Magnates last week.

Warning

Hong Kong’s financial watchdog plays a key role in informing investors about potential scams by drawing attention to illicit operations and unregulated entities that market participants should refrain from doing business with.

Alongside today's warning, the SFC has warned in its statement that unlicensed entities may use names similar to legitimate companies to confuse investors, and while a firm’s website may reveal what appears to be a legitimate financial services outfit, ambiguities relating to the firm’s address and bank account details often raise concerns.

These factors raised the flag as far as Kimzeen Forex Management is concerned and prompted the SFC to take action in order to protect any investors falling into potentially unscrupulous hands.