IFSC Flags Binary Options Broker, Bitcoin Mining Firm Over False Licenses

The ‎Belize regulator has recently stepped up its fight against ‎binary options ‎brokers. ‎

The International Financial Services Commission of Belize (IFSC) ‎today ‎issued a warning stating that a company calling itself BTCHOME Mining is ‎falsely claiming to hold International Business Company registration in ‎Belize.‎

BTCHOME claims to operate a regulated ECN/STP Forex brokerage service ‎that provides trading facilities to clients globally with an additional ‎focus on cryptocurrency mining. The fraudulent firm says it allows traders to ‎achieve more profits through reinvesting their funds in its cloud mining service ‎which offers an alternative to those who would like to engage in altcoin ‎mining activities.‎

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In order to prevent such fraudulent practices, IFSC has ‎issued several guidelines which encourage potential ‎investors to be wary of promises of disproportionate ‎returns. A guaranteed investment with a high return that ‎considerably exceeds the market return is often too good ‎to be true, it says.‎

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The ‎Belize regulator has also stepped up its fight against ‎binary options brokers. The latest addition to its blacklist ‎was ‘Matrix-Option,’ which operates through ‎https://www.matrixoption.com, and has been ‎cited today ‎for forgery over its ‎regulatory status. ‎

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

Typically, alleged scam entities in scenarios like this may ‎deny the accusations and make up excuses, perhaps that it ‎was an administrative error, but in this case the company ‎‎lists its regulatory status on its website and even ‎‎provides a link to a copy of its alleged IFSC license. ‎

Specifically, the IFSC warned that the company is posting on its website a ‎Certificate of Incorporation with the number IFSC/60/310/IME/16-344, carrying its name ‎and purporting to be incorporated in Belize, yet this certificate is a “complete ‎forgery,” the watchdog says. ‎

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