Swiss Watchdog FINMA Warns Against Liquid-fx

FINMA, the Swiss Financial Market Supervisory Authority, has updated its blacklist of companies that are illegally conducting financial services and targeting Swiss residents.

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The newly listed company is an asset management provider named liquid-fx GmbH. The Swiss authority located the company address via its website https://liquid-fx.net which reveals that the firm offers several ‘unclear’ financial services including managed accounts, 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 mone 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 mone Read this Term platforms and asset management plans.

Although the financial watchdog didn’t provide specific details, the inclusion of liquid-fx means that it is not officially registered in Switzerland and was thus not authorized to offer its trading services to Swiss traders. Interestingly, liquid-fx displays the UFX Markets logo, citing the CySEC CySEC The Cyprus Securities and Exchange Commission (CySEC) is a financial regulatory authority of Cyprus. CySEC is one of the key watchdog authorities for brokerages in Europe, whose financial regulations and operations comply with the European MiFID financial harmonization law.Founded in 2001, CySEC is instrumental in providing licensing and registration for forex brokers and previously binary options providers.CySEC is responsible for a variety of different functions, which includes the supervision The Cyprus Securities and Exchange Commission (CySEC) is a financial regulatory authority of Cyprus. CySEC is one of the key watchdog authorities for brokerages in Europe, whose financial regulations and operations comply with the European MiFID financial harmonization law.Founded in 2001, CySEC is instrumental in providing licensing and registration for forex brokers and previously binary options providers.CySEC is responsible for a variety of different functions, which includes the supervision Read this Term-regulated broker as its 'licensed partner' without giving further details about the nature of this partnership.

Finance Magnates reported last week on FINMA when the authority signed a Memorandum of Understanding (MOU) with the Securities and Futures Commission (SFC) on Switzerland-Hong Kong Mutual Recognition of Funds and Asset Managers. The MoU will enable eligible Swiss and Hong Kong public funds to be distributed in each other’s markets through a streamlined vetting process.