Belize’s IFSC Issues Five Warnings Against Unlicensed Entities
- The regulator has warned that all companies are using fraudulent licence numbers to trick investors.
The International Financial Services Commission of Belize (IFSC) issued five warnings against unlicenced entities on Thursday. The companies in question are Sigma-market, B.O Tradefinancials Ltd, FONDA BRANCH, Ultimate Trade Option Ltd. and Height-Option Broker.
According to the collection of warnings from the regulator, all companies are unlicensed in Belize and are therefore not permitted to provide, carry on, transact financial services to residents of Belize.
Details on the entities
Sigma-market is a cryptocurrency Trading Platform Trading Platform In the FX space, a currency trading platform is a software provided by brokers to their respective client base, garnering access as traders in the broader market. Most commonly, this reflects an online interface or mobile app, complete with tools for order processing.Every broker needs one or more trading platforms to accommodate the needs of different clients. Being the backbone of the company’s offering, a trading platform provides clients with quotes, a selection of instruments to trade, real In the FX space, a currency trading platform is a software provided by brokers to their respective client base, garnering access as traders in the broader market. Most commonly, this reflects an online interface or mobile app, complete with tools for order processing.Every broker needs one or more trading platforms to accommodate the needs of different clients. Being the backbone of the company’s offering, a trading platform provides clients with quotes, a selection of instruments to trade, real Read this Term. The broker offers its services through its website www.sigma-market.com and states its address is 264 Boulevard Saint-Germain, 75007 Paris, France. On its website, the company claims to be licensed by the IFSC, claiming its license number to be IFSC/60/256/TS/17. The regulator has warned traders that this is a fraudulent license number.
Cynthia Johnson Loan Company and Sky Trade Cooperative, which claim to be licensed as B.O Tradefinancials Ltd, are also on the regulators warning list. According to the warning, the entity is using a fake IFSC license. The company’s address is 1, Kosta Hadjikakou, Kyriakos Tower, 1st Floor, Agios Athanasios, CY-4107 Limassol. Previously, B.O Tradefinancials Ltd was licensed with the Cyprus Securities and Exchange Exchange An exchange is known as a marketplace that supports the trading of derivatives, commodities, securities, and other financial instruments.Generally, an exchange is accessible through a digital platform or sometimes at a tangible address where investors organize to perform trading. Among the chief responsibilities of an exchange would be to uphold honest and fair-trading practices. These are instrumental in making sure that the distribution of supported security rates on that exchange are effectiv An exchange is known as a marketplace that supports the trading of derivatives, commodities, securities, and other financial instruments.Generally, an exchange is accessible through a digital platform or sometimes at a tangible address where investors organize to perform trading. Among the chief responsibilities of an exchange would be to uphold honest and fair-trading practices. These are instrumental in making sure that the distribution of supported security rates on that exchange are effectiv Read this Term Commission. However, on July 3, 2018, the Cyprus regulator announced it had withdrawn the company’s CIF license.
FONDA BRANCH has also been blacklisted by the watchdog for advertising a fake license from the IFSC - IFSC/77/179/BCA/88. The company’s address is 1535 Rosewood Lane, New York, NY 10040.
Ultimate Trade Option Ltd. has also been accused of using a fraudulent license to increase its credibility in Belize’s financial markets. As a result, the regulator has urged caution when dealing with this company, which is allegedly based in California, USA.
The final warning is for Height-Option Broker, a firm which claims to operate from 17 Marble Street, Manchester, Greater Manchester, England, M2 3AW. According to the IFSC, the company says it has the license IFSC/60/310/IME/16-344. However, this is not a valid license. Therefore, traders should be wary of using any services from the broker.
The regulator reminds investors that if they choose to use the services of the above-mentioned companies, they do so at their own risk.
The International Financial Services Commission of Belize (IFSC) issued five warnings against unlicenced entities on Thursday. The companies in question are Sigma-market, B.O Tradefinancials Ltd, FONDA BRANCH, Ultimate Trade Option Ltd. and Height-Option Broker.
According to the collection of warnings from the regulator, all companies are unlicensed in Belize and are therefore not permitted to provide, carry on, transact financial services to residents of Belize.
Details on the entities
Sigma-market is a cryptocurrency Trading Platform Trading Platform In the FX space, a currency trading platform is a software provided by brokers to their respective client base, garnering access as traders in the broader market. Most commonly, this reflects an online interface or mobile app, complete with tools for order processing.Every broker needs one or more trading platforms to accommodate the needs of different clients. Being the backbone of the company’s offering, a trading platform provides clients with quotes, a selection of instruments to trade, real In the FX space, a currency trading platform is a software provided by brokers to their respective client base, garnering access as traders in the broader market. Most commonly, this reflects an online interface or mobile app, complete with tools for order processing.Every broker needs one or more trading platforms to accommodate the needs of different clients. Being the backbone of the company’s offering, a trading platform provides clients with quotes, a selection of instruments to trade, real Read this Term. The broker offers its services through its website www.sigma-market.com and states its address is 264 Boulevard Saint-Germain, 75007 Paris, France. On its website, the company claims to be licensed by the IFSC, claiming its license number to be IFSC/60/256/TS/17. The regulator has warned traders that this is a fraudulent license number.
Cynthia Johnson Loan Company and Sky Trade Cooperative, which claim to be licensed as B.O Tradefinancials Ltd, are also on the regulators warning list. According to the warning, the entity is using a fake IFSC license. The company’s address is 1, Kosta Hadjikakou, Kyriakos Tower, 1st Floor, Agios Athanasios, CY-4107 Limassol. Previously, B.O Tradefinancials Ltd was licensed with the Cyprus Securities and Exchange Exchange An exchange is known as a marketplace that supports the trading of derivatives, commodities, securities, and other financial instruments.Generally, an exchange is accessible through a digital platform or sometimes at a tangible address where investors organize to perform trading. Among the chief responsibilities of an exchange would be to uphold honest and fair-trading practices. These are instrumental in making sure that the distribution of supported security rates on that exchange are effectiv An exchange is known as a marketplace that supports the trading of derivatives, commodities, securities, and other financial instruments.Generally, an exchange is accessible through a digital platform or sometimes at a tangible address where investors organize to perform trading. Among the chief responsibilities of an exchange would be to uphold honest and fair-trading practices. These are instrumental in making sure that the distribution of supported security rates on that exchange are effectiv Read this Term Commission. However, on July 3, 2018, the Cyprus regulator announced it had withdrawn the company’s CIF license.
FONDA BRANCH has also been blacklisted by the watchdog for advertising a fake license from the IFSC - IFSC/77/179/BCA/88. The company’s address is 1535 Rosewood Lane, New York, NY 10040.
Ultimate Trade Option Ltd. has also been accused of using a fraudulent license to increase its credibility in Belize’s financial markets. As a result, the regulator has urged caution when dealing with this company, which is allegedly based in California, USA.
The final warning is for Height-Option Broker, a firm which claims to operate from 17 Marble Street, Manchester, Greater Manchester, England, M2 3AW. According to the IFSC, the company says it has the license IFSC/60/310/IME/16-344. However, this is not a valid license. Therefore, traders should be wary of using any services from the broker.
The regulator reminds investors that if they choose to use the services of the above-mentioned companies, they do so at their own risk.