Following a growing number of consumer reports, the Financial Services and Markets Authority (FSMA) of Belgium has yet again updated its warning list this Tuesday in order to protect residents.
According to the regulator, a number of consumers have approached the FSMA, stating that certain companies have been coming to them with a variety of offers that often promise returns much higher than market rates, with some even promising “guaranteed” returns.
“The FSMA once again warns consumers against these, because often behind these tempting offers are scammers who are not authorized to make such offers, the sole aim of which is to steal your savings,” the watchdog said.
This Tuesday, the regulator reminded consumers that scams continue to operate in a similar matter. Victims are contacted by a salesperson who offers investment products, wealth management contracts, etc.
The nature of these products is that consumers need to give their money to the fraudsters, so they can “manage” their money. The most commonly used tactic to get money from unknowing victims is the promise or even guarantee of high returns.
“The concept, however, is too good to be true. In the end, despite the promises, the investors never recover their money!” the FSMA added.
FSMA flags Ae Global Invest
In addition to issuing the above reminder, the FSMA has also flagged four suspect companies that have been active in recent weeks. Out of the four, one offers foreign exchange (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 trading market by volume. According to the Bank of International Settlements (BIS) latest survey, the Forex market now turns over in excess of $5 trillion every day, with the most exchanges occurring between the US Dollar and the Euro (EUR/USD), followed by the US Dollar and the Japanese Yen (USD/JPY), then the US Dollar and Pound Sterling (GBP/USD). Ultimately, it is the very exchanging between currencies which causes a country’s currency to fluctuate in value in relation to another currency – this is known as the exchange rate. With regards to freely floating currencies, this is determined by supply and demand, such as imports and exports, and currency traders, such as banks and hedge funds. Emphasis on Retail Trading for ForexTrading the forex market for the purpose of financial gain was once the exclusive realm of financial institutions.But thanks to the invention of the internet and advances in financial technology from the 1990’s, almost anyone can now start trading this huge market. All one needs is a computer, an internet connection, and an account with a forex broker. Of course, before one starts to trade currencies, a certain level of knowledge and practice is essential. Once can gain some practice using demonstration accounts, i.e. place trades using demo money, before moving on to some real trading after attaining confidence. The main two fields of trading are known as technical analysis and fundamental analysis. Technical analysis refers to using mathematical tools and certain patterns to help decide whether to buy or sell a currency pair, and fundamental analysis refers to gauging the national and international events which may potentially affect a country’s currency value.
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 trading market by volume. According to the Bank of International Settlements (BIS) latest survey, the Forex market now turns over in excess of $5 trillion every day, with the most exchanges occurring between the US Dollar and the Euro (EUR/USD), followed by the US Dollar and the Japanese Yen (USD/JPY), then the US Dollar and Pound Sterling (GBP/USD). Ultimately, it is the very exchanging between currencies which causes a country’s currency to fluctuate in value in relation to another currency – this is known as the exchange rate. With regards to freely floating currencies, this is determined by supply and demand, such as imports and exports, and currency traders, such as banks and hedge funds. Emphasis on Retail Trading for ForexTrading the forex market for the purpose of financial gain was once the exclusive realm of financial institutions.But thanks to the invention of the internet and advances in financial technology from the 1990’s, almost anyone can now start trading this huge market. All one needs is a computer, an internet connection, and an account with a forex broker. Of course, before one starts to trade currencies, a certain level of knowledge and practice is essential. Once can gain some practice using demonstration accounts, i.e. place trades using demo money, before moving on to some real trading after attaining confidence. The main two fields of trading are known as technical analysis and fundamental analysis. Technical analysis refers to using mathematical tools and certain patterns to help decide whether to buy or sell a currency pair, and fundamental analysis refers to gauging the national and international events which may potentially affect a country’s currency value.
Read this Term) trading, one offers fixed-income investment funds, one claims to be an asset management company, and the other’s website doesn’t appear to work.
The four websites the regulator has blacklisted are:
www.aeglobalinvest.com
www.deutschecapitalpartners.com
www.fortis-prime.com
www.rt-europe.be
The first on the list, Ae Global Invest, claims to be an investment company, offering customers the ability to trade forex, exchange-traded funds, fine wine, raw materials, a cattle ranch and more.
“The FSMA warns that these companies do not hold an authorization and are thus not permitted to offer investment services in Belgium. Moreover, it is very likely that these are cases of investment fraud, which means that in the end, the amounts invested are never reimbursed,” the watchdog warns.
Following a growing number of consumer reports, the Financial Services and Markets Authority (FSMA) of Belgium has yet again updated its warning list this Tuesday in order to protect residents.
According to the regulator, a number of consumers have approached the FSMA, stating that certain companies have been coming to them with a variety of offers that often promise returns much higher than market rates, with some even promising “guaranteed” returns.
“The FSMA once again warns consumers against these, because often behind these tempting offers are scammers who are not authorized to make such offers, the sole aim of which is to steal your savings,” the watchdog said.
This Tuesday, the regulator reminded consumers that scams continue to operate in a similar matter. Victims are contacted by a salesperson who offers investment products, wealth management contracts, etc.
The nature of these products is that consumers need to give their money to the fraudsters, so they can “manage” their money. The most commonly used tactic to get money from unknowing victims is the promise or even guarantee of high returns.
“The concept, however, is too good to be true. In the end, despite the promises, the investors never recover their money!” the FSMA added.
FSMA flags Ae Global Invest
In addition to issuing the above reminder, the FSMA has also flagged four suspect companies that have been active in recent weeks. Out of the four, one offers foreign exchange (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 trading market by volume. According to the Bank of International Settlements (BIS) latest survey, the Forex market now turns over in excess of $5 trillion every day, with the most exchanges occurring between the US Dollar and the Euro (EUR/USD), followed by the US Dollar and the Japanese Yen (USD/JPY), then the US Dollar and Pound Sterling (GBP/USD). Ultimately, it is the very exchanging between currencies which causes a country’s currency to fluctuate in value in relation to another currency – this is known as the exchange rate. With regards to freely floating currencies, this is determined by supply and demand, such as imports and exports, and currency traders, such as banks and hedge funds. Emphasis on Retail Trading for ForexTrading the forex market for the purpose of financial gain was once the exclusive realm of financial institutions.But thanks to the invention of the internet and advances in financial technology from the 1990’s, almost anyone can now start trading this huge market. All one needs is a computer, an internet connection, and an account with a forex broker. Of course, before one starts to trade currencies, a certain level of knowledge and practice is essential. Once can gain some practice using demonstration accounts, i.e. place trades using demo money, before moving on to some real trading after attaining confidence. The main two fields of trading are known as technical analysis and fundamental analysis. Technical analysis refers to using mathematical tools and certain patterns to help decide whether to buy or sell a currency pair, and fundamental analysis refers to gauging the national and international events which may potentially affect a country’s currency value.
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 trading market by volume. According to the Bank of International Settlements (BIS) latest survey, the Forex market now turns over in excess of $5 trillion every day, with the most exchanges occurring between the US Dollar and the Euro (EUR/USD), followed by the US Dollar and the Japanese Yen (USD/JPY), then the US Dollar and Pound Sterling (GBP/USD). Ultimately, it is the very exchanging between currencies which causes a country’s currency to fluctuate in value in relation to another currency – this is known as the exchange rate. With regards to freely floating currencies, this is determined by supply and demand, such as imports and exports, and currency traders, such as banks and hedge funds. Emphasis on Retail Trading for ForexTrading the forex market for the purpose of financial gain was once the exclusive realm of financial institutions.But thanks to the invention of the internet and advances in financial technology from the 1990’s, almost anyone can now start trading this huge market. All one needs is a computer, an internet connection, and an account with a forex broker. Of course, before one starts to trade currencies, a certain level of knowledge and practice is essential. Once can gain some practice using demonstration accounts, i.e. place trades using demo money, before moving on to some real trading after attaining confidence. The main two fields of trading are known as technical analysis and fundamental analysis. Technical analysis refers to using mathematical tools and certain patterns to help decide whether to buy or sell a currency pair, and fundamental analysis refers to gauging the national and international events which may potentially affect a country’s currency value.
Read this Term) trading, one offers fixed-income investment funds, one claims to be an asset management company, and the other’s website doesn’t appear to work.
The four websites the regulator has blacklisted are:
www.aeglobalinvest.com
www.deutschecapitalpartners.com
www.fortis-prime.com
www.rt-europe.be
The first on the list, Ae Global Invest, claims to be an investment company, offering customers the ability to trade forex, exchange-traded funds, fine wine, raw materials, a cattle ranch and more.
“The FSMA warns that these companies do not hold an authorization and are thus not permitted to offer investment services in Belgium. Moreover, it is very likely that these are cases of investment fraud, which means that in the end, the amounts invested are never reimbursed,” the watchdog warns.
