The Cyprus Securities and Exchange Commission (CySEC) and the Financial Services Commission, Mauritius (FSC), issued a joint statement today to alert the public with regards to LiveFX Trader (LiveFX).
CySEC and FSC Mauritius stated that they have recently been made aware that LiveFX is displaying a fraudulent copy of an Investment Dealer, Full Service Dealer Licence. The licence, which is accessible on the unregulated firm’s website, should be easily identified as a scam by discerning traders as it is a bad example of photo editing and claiming to be a Cyprus license but portrays the logo of FSC Mauritius.
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The address is also incorrectly stated insofar as the address of the FSC Mauritius reads as FSC House 54 Cybercity Ebene Republic of Mauritius. However, the address on the fraudulent licence appears as FSC House 54 Cybercity Ebene Republic of Cyrus.
This obvious misspelling of the name of the country the firm is supposedly regulated in, is perhaps a sophisticated technique used by the scammer to make sure he only targets people who have limited mental capabilities to check with whom they trust their money or simply don’t know English and can be easily duped.
CySEC and FSC Mauritius informed the public that LiveFX Trader is not and has not
at any time been licensed in Cyprus or Mauritius and therefore urge the public to exercise caution with respect to LiveFX.