Belize’s IFSC Flags LittInvest Over False License Claims

Belize’s financial watchdog (IFSC) ‎today warned investors that ‎a company calling itself LittInvest LTD, which operates through the website www.littinvest.com, is falsely claiming to hold International Business Company registration in Belize while not actually licensed by the commission ‎or any other competent authority in the country.

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A brief review of the LittInvest website reveals that the broker offers its clients several trading products including 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 and binary options, as well as stock indices and commodities.

Not only did the said broker approach clients without having been authorized by the Belizean regulator, but it further falsely claims registration with the Financial Services Authority of Saint Vincent and the Grenadines. LittInvest also says on its website that it operates as a licensed broker under the oversight of the UK Financial Conduct Authority (FCA).

Due to the illegal nature of its conduct, the online foreign Exchange Exchange An exchange is known as a marketplace that supports the trading of derivatives, commodities, securities, and other financial instruments.Generally, an exchange is accessible through a digital platform or sometimes at a tangible address where investors organize to perform trading. Among the chief responsibilities of an exchange would be to uphold honest and fair-trading practices. These are instrumental in making sure that the distribution of supported security rates on that exchange are effectiv An exchange is known as a marketplace that supports the trading of derivatives, commodities, securities, and other financial instruments.Generally, an exchange is accessible through a digital platform or sometimes at a tangible address where investors organize to perform trading. Among the chief responsibilities of an exchange would be to uphold honest and fair-trading practices. These are instrumental in making sure that the distribution of supported security rates on that exchange are effectiv Read this Term trading firm has been instructed by the IFSC to cease and desist from providing financial services and engaging in finance oriented activities. Offering such services in this manner is a violation of the law in Belize.

According to the watchdog, ‎‎all persons concerned should exercise extreme caution and take note, as the ‎‎aforementioned entity is fraudulently claiming to hold a trading licence in financial and commodity-based derivative instruments and other securities.‎

It is not yet clear how many clients may have been affected by the firm. This is therefore a warning sign of other potentially fabricated aspects of its business with regard to credibility.