Swiss Watchdog FINMA Warns Against Liquid-fx

Interestingly, liquid-fx displays the UFX Markets logo, citing the CySEC-regulated broker as its ‘licensed partner’.

FINMA, the Swiss Financial Market Supervisory Authority, has updated its blacklist of companies that are illegally conducting financial services and targeting Swiss residents.

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The newly listed company is an asset management provider named liquid-fx GmbH. The Swiss authority located the company address via its website http://liquid-fx.net which reveals that the firm offers several ‘unclear’ financial services including managed accounts, online trading platforms and asset management plans.

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Although the financial watchdog didn’t provide specific details, the inclusion of liquid-fx means that it is not officially registered in Switzerland and was thus not authorized to offer its trading services to Swiss traders. Interestingly, liquid-fx displays the UFX Markets logo, citing the CySEC-regulated broker as its ‘licensed partner’ without giving further details about the nature of this partnership.

Finance Magnates reported last week on FINMA when the authority signed a Memorandum of Understanding (MOU) with the Securities and Futures Commission (SFC) on Switzerland-Hong Kong Mutual Recognition of Funds and Asset Managers. The MoU will enable eligible Swiss and Hong Kong public funds to be distributed in each other’s markets through a streamlined vetting process.

 

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