The Malta Financial Services Authority (MFSA) has warned investors and the general public of three entities which are not authorized to provide investment services. The three firms are Capital Markets Banc, Marketier Holding Limited and Smart Choice Zone LLP.
Smart Choice Zone LLP (www.binaryuno.com) runs a binary options website and solicits clients to trade on its platform. Though it has not made any mention of holding a license with the MFSA on its website, the warning from the MFSA could mean that the firm is directly soliciting clients with such false claims.
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Both Marketier Holding Limited (www.stoxmarket.com) and Capital Markets Banc (www.capmb.com, www.capmbes.com, my.capitalmarketbanc.com) provide trading in stocks, CFDs and FX on their trading platforms. Like Smart Choice, they do not mention holding a MFSA license on their websites.
In April this year, the MFSA tightened margin requirements and increased capital requirements on FX and CFDs for licensed firms. This was an attempt by the MFSA to match other global regulatory bodies as far as regulations and requirements are concerned.
The MFSA hopes that this will serve to clean up its system and discourage scam entities from registering with in Malta.
This could also help the MFSA to track such entities in a more efficient manner. The regulator issues periodic warnings to the public to avoid dealing with such entities.