Fraudsters Reach New Depths, Conjuring up Fake Monetary Authority

The Financial Services and Markets Authority (FSMA) has issued a warning to the public against the activities of the fictitious monetary authority, the European Commodities Commission (ECC), according to an FSMA statement.

Warnings such as this are commonplace for clones of binary or FX providers, though seldom reserved for the fabrication of regulators. Back in August, the FSMA issued a public warning against the unauthorized activity of nine forex and binary options providers, including Tradmaker, Bank Of Market, Time Binary, Aston Markets, Aston 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, Ebinaires, KD Markets and Tradaxa, having failed to comply with Belgian Regulation Regulation Like any other industry with a high net worth, the financial services industry is tightly regulated to help curb illicit behavior and manipulation. Each asset class has its own set of protocols put in place to combat their respective forms of abuse.In the foreign exchange space, regulation is assumed by authorities in multiple jurisdictions, though ultimately lacking a binding international order. Who are the Industry’s Leading Regulators?Regulators such as the UK’s Financial Conduct Authority ( Like any other industry with a high net worth, the financial services industry is tightly regulated to help curb illicit behavior and manipulation. Each asset class has its own set of protocols put in place to combat their respective forms of abuse.In the foreign exchange space, regulation is assumed by authorities in multiple jurisdictions, though ultimately lacking a binding international order. Who are the Industry’s Leading Regulators?Regulators such as the UK’s Financial Conduct Authority ( Read this Term.

The European Commodities Commission (ECC) portrays itself as a supervisory authority, headquartered out of Belgium with a sweeping mandate to supervise such ventures as offering investors offshore investments – evidently as a safeguarding means.

The ECC utilizes the website www.europeancommoditiescommission.com and boasts a registered office at the address of:

Antwerp Business Center, De Keyserlei 5b, box 58, 2018, Antwerp

The ECC is an unknown construct to the FSMA and in no ways is the Belgian “based” regulator registered or authorized to deal with investors. Investors, market participants, and individuals are thus warned from dealing with the illicit and fraudulent entity.