FSMA Outs Suspected Scams Disguised as Trading Platforms
- The regulator has warned against five entities of which it has received complaints against from Belgian residents.

The financial regulatory agency in Belgium, the Financial Services and Markets Authority (FSMA), has today published a statement, warning residents of the country to be wary of scams hiding as Online Trading Online Trading Online trading represents the trading of fiat currencies, digital currencies, commodities, stocks and indices, where traders and investors intend to make a profit, via the purchase or sale of the aforementioned products. This is done through an electronic network, made accessible by brokers in the form of an online trading platform or hub.Online trading continues to see a rapid growth year on year, due to a number of reasons. Firstly, the number of brokers offering their services, with more money being spent on advertisements and sponsorships to attract potential traders. Secondly, more traders are aware of the ease in applying for online accounts; the low barrier to entry now means a trader only needs to deposit virtually as little as one wants in order to places trades. Thirdly, the improvement of financial technology, better performing hardware and software, leading to quick and consistent execution, which in turn is helped by higher liquidity, and reduced trading costs such spreads and commissions, have fueled the retail trading industry immensely. How to Trade Online?Before the emergence of the Internet, traders would have to place trades over the phone, which could be rather cumbersome, especially if one wanted to place multiple trades in a short space of time. Indeed, online trading has opened a new field of trading in the form of foreign exchange scalping, whether manually, or by way of automated trading robots. An example of online trading is the trading the foreign exchange market with a forex broker, using a platform which the broker will provide. The trader installs the platform on their computer, and they are given the information and tools needed to start trading. The most common online retail platform for forex trading is known as MetaTrader 4 (MT4). Online trading represents the trading of fiat currencies, digital currencies, commodities, stocks and indices, where traders and investors intend to make a profit, via the purchase or sale of the aforementioned products. This is done through an electronic network, made accessible by brokers in the form of an online trading platform or hub.Online trading continues to see a rapid growth year on year, due to a number of reasons. Firstly, the number of brokers offering their services, with more money being spent on advertisements and sponsorships to attract potential traders. Secondly, more traders are aware of the ease in applying for online accounts; the low barrier to entry now means a trader only needs to deposit virtually as little as one wants in order to places trades. Thirdly, the improvement of financial technology, better performing hardware and software, leading to quick and consistent execution, which in turn is helped by higher liquidity, and reduced trading costs such spreads and commissions, have fueled the retail trading industry immensely. How to Trade Online?Before the emergence of the Internet, traders would have to place trades over the phone, which could be rather cumbersome, especially if one wanted to place multiple trades in a short space of time. Indeed, online trading has opened a new field of trading in the form of foreign exchange scalping, whether manually, or by way of automated trading robots. An example of online trading is the trading the foreign exchange market with a forex broker, using a platform which the broker will provide. The trader installs the platform on their computer, and they are given the information and tools needed to start trading. The most common online retail platform for forex trading is known as MetaTrader 4 (MT4). Read this Term platforms.
- 365 Markets (Trustnet Ltd) (www.365markets.com)
- CFDS100.com (Trsystem Limited) (www.cfds100.com)
- FXG Trade (Capital FXG Ltd / Nordic Pearl Ltd) (www.fxgtrade.com)
- HybridReserve (Singlebell LTD / SingleBell OU) (www.hybridreserve.com)
- PBN Capital (Capital Tech Ltd / Pbox Ltd) (www.pbncapital.com)
According to the FSMA: “Any company wishing to offer investment products must hold an authorization. Furthermore, since 18 August 2016, no investment firm (authorized or not) is permitted to distribute actively, within the territory of Belgium, binary options, certain forex products or CFDs. The companies that are the subject of this warning do not comply with the aforementioned rules.”
FSMA Urgers Consumers to do their Due Diligence
The Belgian regulator reminds investors that investment scams can be commonly found in the binary options, forex, and CFD sector. Cryptocurrency scams are also becoming increasingly popular, buoyed by a lack of harmonized regulation in the space.
One of the easiest ways to tell if a firm is legitimate or not is to check with your local regulator to see if they are registered and authorized to provide their services in the country you reside in. For the FSMA, you can search here.
However, searching alone is not enough, as there are also many clone firms which copy the name, address, registration details and more in order to appear legitimate. To this end, the Belgian watchdog also advises consumers to check for warnings against the company, check that it’s details are correct and be wary of unsolicited contact.
The financial regulatory agency in Belgium, the Financial Services and Markets Authority (FSMA), has today published a statement, warning residents of the country to be wary of scams hiding as Online Trading Online Trading Online trading represents the trading of fiat currencies, digital currencies, commodities, stocks and indices, where traders and investors intend to make a profit, via the purchase or sale of the aforementioned products. This is done through an electronic network, made accessible by brokers in the form of an online trading platform or hub.Online trading continues to see a rapid growth year on year, due to a number of reasons. Firstly, the number of brokers offering their services, with more money being spent on advertisements and sponsorships to attract potential traders. Secondly, more traders are aware of the ease in applying for online accounts; the low barrier to entry now means a trader only needs to deposit virtually as little as one wants in order to places trades. Thirdly, the improvement of financial technology, better performing hardware and software, leading to quick and consistent execution, which in turn is helped by higher liquidity, and reduced trading costs such spreads and commissions, have fueled the retail trading industry immensely. How to Trade Online?Before the emergence of the Internet, traders would have to place trades over the phone, which could be rather cumbersome, especially if one wanted to place multiple trades in a short space of time. Indeed, online trading has opened a new field of trading in the form of foreign exchange scalping, whether manually, or by way of automated trading robots. An example of online trading is the trading the foreign exchange market with a forex broker, using a platform which the broker will provide. The trader installs the platform on their computer, and they are given the information and tools needed to start trading. The most common online retail platform for forex trading is known as MetaTrader 4 (MT4). Online trading represents the trading of fiat currencies, digital currencies, commodities, stocks and indices, where traders and investors intend to make a profit, via the purchase or sale of the aforementioned products. This is done through an electronic network, made accessible by brokers in the form of an online trading platform or hub.Online trading continues to see a rapid growth year on year, due to a number of reasons. Firstly, the number of brokers offering their services, with more money being spent on advertisements and sponsorships to attract potential traders. Secondly, more traders are aware of the ease in applying for online accounts; the low barrier to entry now means a trader only needs to deposit virtually as little as one wants in order to places trades. Thirdly, the improvement of financial technology, better performing hardware and software, leading to quick and consistent execution, which in turn is helped by higher liquidity, and reduced trading costs such spreads and commissions, have fueled the retail trading industry immensely. How to Trade Online?Before the emergence of the Internet, traders would have to place trades over the phone, which could be rather cumbersome, especially if one wanted to place multiple trades in a short space of time. Indeed, online trading has opened a new field of trading in the form of foreign exchange scalping, whether manually, or by way of automated trading robots. An example of online trading is the trading the foreign exchange market with a forex broker, using a platform which the broker will provide. The trader installs the platform on their computer, and they are given the information and tools needed to start trading. The most common online retail platform for forex trading is known as MetaTrader 4 (MT4). Read this Term platforms.
- 365 Markets (Trustnet Ltd) (www.365markets.com)
- CFDS100.com (Trsystem Limited) (www.cfds100.com)
- FXG Trade (Capital FXG Ltd / Nordic Pearl Ltd) (www.fxgtrade.com)
- HybridReserve (Singlebell LTD / SingleBell OU) (www.hybridreserve.com)
- PBN Capital (Capital Tech Ltd / Pbox Ltd) (www.pbncapital.com)
According to the FSMA: “Any company wishing to offer investment products must hold an authorization. Furthermore, since 18 August 2016, no investment firm (authorized or not) is permitted to distribute actively, within the territory of Belgium, binary options, certain forex products or CFDs. The companies that are the subject of this warning do not comply with the aforementioned rules.”
FSMA Urgers Consumers to do their Due Diligence
The Belgian regulator reminds investors that investment scams can be commonly found in the binary options, forex, and CFD sector. Cryptocurrency scams are also becoming increasingly popular, buoyed by a lack of harmonized regulation in the space.
One of the easiest ways to tell if a firm is legitimate or not is to check with your local regulator to see if they are registered and authorized to provide their services in the country you reside in. For the FSMA, you can search here.
However, searching alone is not enough, as there are also many clone firms which copy the name, address, registration details and more in order to appear legitimate. To this end, the Belgian watchdog also advises consumers to check for warnings against the company, check that it’s details are correct and be wary of unsolicited contact.