Hong Kong’s Securities and Futures Commission (SFC), the country’s paramount securities regulator, has issued a warning against another brokerage after it was found to be offering forex trading services to the public without being authorised to do so, according to an SFC statement.
Global-FX / Global Partner HK Limited is the latest company to come under scrutiny by the watchdog for promoting its trading services without a licence. The broker is operating from the site http://www.gl-forex.com, and lists its addresses at Hong Kong. However, the SFC said that the unregulated firm is not located in the region although it may be using the details of a legitimate company to confuse investors.
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A brief review of the Global-FX’s website reveals that it offers investment services on a wide range of financial instruments, ranging from equities, forex, to asset management solutions.
The SFC routinely warns about such entities and scams operating in Hong Kong, one of the region’s paramount financial markets.
Presently, the SFC’s comprehensive Alert List features the names of businesses that have come to the attention of the watchdog because they are unlicensed in Hong Kong and are believed to be, or to have been, targeting Hong Kong investors or claim to have an association with Hong Kong.