SFC Issues Warning Against OSG Forex for Unauthorised Activity

The Hong Kong financial regulatory authority, the Securities and Futures Commission (SFC), has issued a warning against OSG Forex Forex Foreign exchange or forex is the act of converting one nation’s currency into another nation’s currency (that possesses a different currency); for example, the converting of British Pounds into US Dollars, and vice versa. The exchange of currencies can be done over a physical counter, such as at a Bureau de Change, or over the internet via broker platforms, where currency speculation takes place, known as forex trading.The foreign exchange market, by its very nature, is the world’s largest tradi Foreign exchange or forex is the act of converting one nation’s currency into another nation’s currency (that possesses a different currency); for example, the converting of British Pounds into US Dollars, and vice versa. The exchange of currencies can be done over a physical counter, such as at a Bureau de Change, or over the internet via broker platforms, where currency speculation takes place, known as forex trading.The foreign exchange market, by its very nature, is the world’s largest tradi Read this Term / Optimum Standard International Group Limited for offering unauthorized services.

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A perusal of its website shows that it offers trading in FX using the MT4 Trading Platform Trading Platform In the FX space, a currency trading platform is a software provided by brokers to their respective client base, garnering access as traders in the broader market. Most commonly, this reflects an online interface or mobile app, complete with tools for order processing.Every broker needs one or more trading platforms to accommodate the needs of different clients. Being the backbone of the company’s offering, a trading platform provides clients with quotes, a selection of instruments to trade, real In the FX space, a currency trading platform is a software provided by brokers to their respective client base, garnering access as traders in the broader market. Most commonly, this reflects an online interface or mobile app, complete with tools for order processing.Every broker needs one or more trading platforms to accommodate the needs of different clients. Being the backbone of the company’s offering, a trading platform provides clients with quotes, a selection of instruments to trade, real Read this Term. It also offers trading in commodities like gold and silver.

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.