Proving once again that as long as there are humans capable of surviving on earth that there will also be scammers amongst them, the Malta Financial Services Authority announced on Thursday evening that it had added FxNobels to its warnings list.
According to the MFSA, the broker has been trying to solicit customers in Malta without having the regulatory authorization to do so.
The site that the MFSA linked to on its warnings page is not actually active – or at least this author was unable to access it.
That’s probably a good thing because the stories that those who were able to access it have told on various brokerage review websites indicate that the firm is not to be trusted.
One user said that their money had simply disappeared and they were unable to access their account. When they contacted the broker’s customer support office, they were told that $1 million had been transferred to them by accident and that the mistake had to be fixed.
After that user did get access to their account back, they found that their money was gone and that someone had been making trades on their account without their permission.
Could Advanced Execution Engines Help Exploit Volatile Markets?Go to article >>
FxNobels – Bulgarian origins
Based on prior reviews, it seems that the people behind FxNobels were, at one point, operating out of a call center in Bulgaria.
Now the broker lists its address as being somewhere in Malta, but the MFSA’s warning would suggest that the address is a bogus one.
Otherwise, FxNobels has all the trappings of a run-of-the-mill, boring scam broker. There is no indication as to who is running anything, no indication as to where the company is really based and no indication that you will get your money back if you deposit it with the firm.
So, as you would with any other firm that you come across which displays these traits, stay well away from FxNobles.