The Hong Kong financial regulatory authority, the Securities and Futures Commission (SFC), has issued a warning against OSG Forex / Optimum Standard International Group Limited for offering unauthorized services.
A perusal of its website shows that it offers trading in FX using the MT4 trading platform. It also offers trading in commodities like gold and silver.
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The SFC says that the firm is an unlicensed entity and that the company claims an address in Hong Kong, but does not reside at that address.
The SFC issues regular warnings against companies that offer trading and other financial services to the public without the required authorization.
The SFC has also said that investors should check its website for a list of licensed entities, and also a list of issued warnings. The SFC says that unlicensed firms often use names that are similar to licensed ones in order to mislead the public.
It has become standard practice for regulatory authorities to issue warnings to ensure that the public are not fooled into investing their funds into scams.