The Kanto finance bureau of Japan’s Ministry of Finance (MoF) today warned the public against FutureMake FX, operating via the website www.futuremake-fx.com. FutureMake FX is the latest name to be added to its list of financial service providers who have promoted their services to Japanese investors but are not permitted to do so.
This is the second warning to be issued by the Kanto finance bureau this week. On Wednesday, Finance Magnates reported that a further seven firms were added to its warning list for lacking the required registration in Japan.
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The unregistered broker that claims to have offices both in Singapore and the Philippines was red-flagged for setting up a Japanese website and soliciting over-the-counter derivative transactions.
Besides not having the required licences in Japan, the agency has warned that the information obtained from the associated solicitation materials may be inaccurate. Investors are also able to check on the Japanese Financial Services Authority (JFSA) website to confirm if a company is registered and regulated in the country. Customers are not afforded the protections available to firms properly licensed and regulated in Japan.