As the end of the week approaches, the Austrian Financial Markets Authority (FMA) has published a warning on its website this Friday against Swissinv24 Ltd, an alleged provider of trading platforms.
According to the statement released today, Swissinv24 Ltd: “is not entitled to carry out banking transactions in Austria that require a licence.”
“The provider is therefore not permitted to trade in financial futures contracts (futures) on its own account or on the account of others, including equivalent instruments settled in cash as well as call and put options on the instruments listed in Article 1 para. 1 no. 7 points a and d to f of the Banking Act (BWG; Bankwesengesetz), including equivalent instruments settled in cash (futures and options business) pursuant to Article 1 para. 1 no. 7 point c BWG.”
According to the Austrian regulator, the entity has the following details:
Name: Swissinv24 Ltd
Address: Trust Company Complex, Ajeltake Road, Ajeltake Island, Majuro, Marshall Islands, MH 96960
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FMA warns against Prestige Financial Markets
Today’s warning comes just one week after the Austrian regulator blacklisted Prestige Financial Markets. According to the statement from the regulator at the time, Prestige Financial Markets is not authorized to carry out certain banking transactions within the country.
On Prestige Financial Markets’ website, the entity states: “As a leading and regulated broker in the trading industry, there are many reasons why you should choose to partner with Prestige Financial Markets. To start, let us look at the Prestige Financial Markets philosophy.
“Our core focus lies with our users as well as the design of our site and platform, which are based on simplicity and transparency. Every action of our staff is for the sake of our users’ satisfaction, and as a result, we are constantly making improvements and changes to meet the latest expectations of the global market.”