InstaMarkets Ltd No Longer Licensed By IFSC: Regulator Issues Public Notice
The IFSC has today issued a notice stating that InstaMarkets Ltd is no longer registered by the Belize regulatory authority,
The International Financial Services Commission Belize has issued a public notification to the effect that InstaMarkets Ltd, previously registered within the jurisdiction, is no longer licensed by the International Financial Services Commission of Belize (IFSC) for Trading in FX or to provide any other international financial services.
This announcement follows a previous publication by the IFSC to exercise caution when considering business transactions with InstaMarkets, which is dated October 16 this year.
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InstaMarkets Ltd is the firm behind the FX company InstaForex, which has been registered with the Belize financial markets regulator since 2011. Being one of the more peripheral regulatory authorities, this demonstrates the ever-evolving structure and reporting procedures being adopted by government departments entrusted with maintaining the best interests of customers.
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The reason for the unregistering of InstaMarkets has not been publicized, neither has any connection or reference been made to the InstaForex division of the company’s contretemps with the Commodity Futures Trading Commission two years ago that resulted in a court injunction, a fiscal penalty and order to desist from soliciting clients in the United States.
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Let us give a comment on this situation. Instaforex took a decision to stop licensing in Belize. First of all, the PR value of license could not match the dynamic growth of the company. Secondly Belize has rather low investment potential and, quite frankly, does not have very high level of regulation and accounting. Soon there should be some news, which will help to understand our decision and we will expect Forex Magnates to write another arctile on them as well 🙂