Japan’s Kanto Bureau Warns Against HighTrade FX
- Kanto Bureau has issued a warning to the public that HighTrade FX is not authorised to solicit Japanese investors.
The Kanto finance bureau of Japan’s Ministry of Finance (MoF) today issued a warning on its website cautioning the public against HighTrade FX, operating online via https://high-fx.com/.
According to its website, HighTrade FX is owned by Pacific Investments Private Limited, which is located in the Maldives and provides financial services to the International Market, including 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, CFD, commodity, index, broker hedge, various cards, fund management and money management services.
Unauthorised Trading
The broker is the latest name to be added to its list of financial service providers who have promoted their services to Japanese investors but are not authorised to do so in the absence of registration. Earlier this month, Kanto added a further seven FX and binary options firms to the list as part of the agency's ongoing attempts to clamp down on unauthorised trading.
In this case, HighTradeFX had been attempting to solicit traders via the internet and conducting over-the-counter derivative transactions.
Inaccurate Information
Besides not having the required licences in Japan, the agency has warned that the information obtained from the associated solicitation materials may be inaccurate. Investors are also able to check on the Japanese Financial Services Authority (JFSA) website to confirm if a company is registered and regulated in the country. Customers are not afforded the protections available to firms properly licensed and regulated in Japan.
The Kanto finance bureau of Japan’s Ministry of Finance (MoF) today issued a warning on its website cautioning the public against HighTrade FX, operating online via https://high-fx.com/.
According to its website, HighTrade FX is owned by Pacific Investments Private Limited, which is located in the Maldives and provides financial services to the International Market, including 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, CFD, commodity, index, broker hedge, various cards, fund management and money management services.
Unauthorised Trading
The broker is the latest name to be added to its list of financial service providers who have promoted their services to Japanese investors but are not authorised to do so in the absence of registration. Earlier this month, Kanto added a further seven FX and binary options firms to the list as part of the agency's ongoing attempts to clamp down on unauthorised trading.
In this case, HighTradeFX had been attempting to solicit traders via the internet and conducting over-the-counter derivative transactions.
Inaccurate Information
Besides not having the required licences in Japan, the agency has warned that the information obtained from the associated solicitation materials may be inaccurate. Investors are also able to check on the Japanese Financial Services Authority (JFSA) website to confirm if a company is registered and regulated in the country. Customers are not afforded the protections available to firms properly licensed and regulated in Japan.