Hong Kong’s SFC Exposes Unauthorised Forex Broker Poloinvest
- Poloinvest is the latest FX and CFDs broker to be included on the watchdog’s warning list.
Hong Kong’s Securities and Futures Commission (SFC) has issued a statement cautioning investors about Poloinvest Limited, which has been offering 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 to the public via an online Trading Platform Trading Platform In the FX space, a currency trading platform is a software provided by brokers to their respective client base, garnering access as traders in the broader market. Most commonly, this reflects an online interface or mobile app, complete with tools for order processing.Every broker needs one or more trading platforms to accommodate the needs of different clients. Being the backbone of the company’s offering, a trading platform provides clients with quotes, a selection of instruments to trade, real In the FX space, a currency trading platform is a software provided by brokers to their respective client base, garnering access as traders in the broader market. Most commonly, this reflects an online interface or mobile app, complete with tools for order processing.Every broker needs one or more trading platforms to accommodate the needs of different clients. Being the backbone of the company’s offering, a trading platform provides clients with quotes, a selection of instruments to trade, real without being authorised to do so, according to an SFC statement.
The London Summit 2017 is coming, get involved!
[gptAdvertisement]
Poloinvest is the latest FX and CFDs broker to be included on the watchdog’s warning list, which comes with a statement on its website warning residents about the increase in solicitations of risky financial products. At this time, no forex trading companies are registered in Hong Kong so these platforms are engaging in illegal activity.
The named broker is operating from the site www.poloinvest.com, and lists its addresses in Hong Kong. However, the SFC said that the unregulated firm is not located in the region although it may be using the details of a legitimate company to mislead investors.
According to Poloinvest’s website, the company operates as a global online trading broker specializing in stocks, commodities, CFDs and currencies. It also falsely states that the firm is licensed and regulated with major financial commissions worldwide.
The SFC routinely warns about such entities and scams operating in Hong Kong, one of the region’s paramount financial markets.
Presently, the SFC’s comprehensive Alert List features the names of businesses that have come to the attention of the watchdog because they are unlicensed in Hong Kong and are believed to be, or to have been, targeting Hong Kong investors or claim to have an association with Hong Kong.
Hong Kong’s Securities and Futures Commission (SFC) has issued a statement cautioning investors about Poloinvest Limited, which has been offering 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 to the public via an online Trading Platform Trading Platform In the FX space, a currency trading platform is a software provided by brokers to their respective client base, garnering access as traders in the broader market. Most commonly, this reflects an online interface or mobile app, complete with tools for order processing.Every broker needs one or more trading platforms to accommodate the needs of different clients. Being the backbone of the company’s offering, a trading platform provides clients with quotes, a selection of instruments to trade, real In the FX space, a currency trading platform is a software provided by brokers to their respective client base, garnering access as traders in the broader market. Most commonly, this reflects an online interface or mobile app, complete with tools for order processing.Every broker needs one or more trading platforms to accommodate the needs of different clients. Being the backbone of the company’s offering, a trading platform provides clients with quotes, a selection of instruments to trade, real without being authorised to do so, according to an SFC statement.
The London Summit 2017 is coming, get involved!
[gptAdvertisement]
Poloinvest is the latest FX and CFDs broker to be included on the watchdog’s warning list, which comes with a statement on its website warning residents about the increase in solicitations of risky financial products. At this time, no forex trading companies are registered in Hong Kong so these platforms are engaging in illegal activity.
The named broker is operating from the site www.poloinvest.com, and lists its addresses in Hong Kong. However, the SFC said that the unregulated firm is not located in the region although it may be using the details of a legitimate company to mislead investors.
According to Poloinvest’s website, the company operates as a global online trading broker specializing in stocks, commodities, CFDs and currencies. It also falsely states that the firm is licensed and regulated with major financial commissions worldwide.
The SFC routinely warns about such entities and scams operating in Hong Kong, one of the region’s paramount financial markets.
Presently, the SFC’s comprehensive Alert List features the names of businesses that have come to the attention of the watchdog because they are unlicensed in Hong Kong and are believed to be, or to have been, targeting Hong Kong investors or claim to have an association with Hong Kong.