Invest with Peak Options Trade at Own Risk, Belize’s IFSC Warns

Financial scams continue to plague the industry, with the financial regulator of Belize, the International Financial Services Commission (IFSC) being one of the latest watchdogs to post a warning on its website. On Wednesday, the IFSC posted a warning against Peak Options Trade Ltd, for operating without the proper authorization.

Specifically, the regulator states that the entity is “not licensed under the IFSC Act to provide, carry on, transact, or hold himself out as providing, carrying on, or transacting any of the international financial services as set out in the Schedule of the IFSC Act in or from within Belize.”

Furthermore, the watchdog warns that Peak Options Trade is using a fraudulent license - IFSC/60/345/APM/18. Because of this, the regulator has ordered the company to cease and desist from engaging in unlicensed activities, which is an offense under the Laws of Belize.

About Peak Options Trade

According to the warning, Peak Options Trade operates through the following website https://www.peakoptionstrade.com/. Here, the entity claims to be the “best cryptocurrency broker available” and offer “seamless 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 trading.”

Through its website, the alleged FX and crypto broker offers trading plans, which, depending on your investment amount, can offer monthly profits of up to 45 percent, the entity claims.

In addition to falsely claiming to be regulated by the IFSC, Peak Options Trade also states that it holds a license from the Cyprus Securities and Exchange Commission and is registered on the UK’s Companies House. The entity also lists its address at 8 John Kennedy Str. IRIS House, 540AB 5th Floor, Limassol 3106, Cyprus.

However, due to the fact that it has lied about being licensed in Belize, investors should be cautious. In fact, the IFSC states this plainly in yesterday’s warning, by saying: “Members of the public who transact business with these individuals and/or entities, do so at their own risk.”