FMA Alerts Traders about International Financial Trade’s Illegal Operation

The Austrian regulator has issued a warning against the brokerage for working without a license.

The Austrian Financial Market Authority (FMA) has released a warning regarding International Financial Trade (IF Trade) for illegally running its operation in the country. As as the case in other countries, a broker must have a license issued by the FMA in order to advertise and recruit clients in Austria, which IF Trade has not been granted.

The London Summit 2017 is coming, get involved!

Join the iFX EXPO Asia and discover your gateway to the Asian Markets

Following the Austrian law regarding financial services, those provided online included, IF Trade is forbidden from approaching clients and offering its services to them without the required license. IF Trade is further not allowed to offer commercial investment oriented advice, accept or transfer orders of a commercial nature, which include financial instruments.

Suggested articles

Going Past the Great Wall: Things to Consider When Entering the Asian MarketGo to article >>

According to the warning, the address of IF Trade’s headquarters is 3 Paternoster Square, London, UK. When attempting to look at the company’s website we found that it would not download. IF Trade may have shut it down for specific countries to deter personae non gratae clients, or it may have closed it completely. The reason currently remains unknown.

Recently, Finance Magnates reported that the FMA is taking more defense related measures to battle against forex and CFD trading operations, one of them being the Investor Warning Instrument. The success of this method correlates with 2016’s decreased statistics regarding investigations and legal actions against unregistered companies compared with the previous year.

In addition, Finance Magnates covered the warning issued by the FMA against Werner Stocker, a firm that offers investment products and services. The company has been running financial activities without the license required to operate in Austria.

Got a news tip? Let Us Know