HTFX Moves to Exit the UK as More Brokers Step Back From FCA Licences
HTFX’s withdrawal from the United Kingdom comes amid a broader wave of brokerage firms reassessing the value of maintaining FCA licences.
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CySEC Issues Warning Against IMS
Abstract：On Thursday, the Cyprus Securities and Exchange Commission (CySEC) issued a fresh alert against IMS Crypto as it is an unlicensed company that is operating using false information to deceive investors.
On Thursday, the Cyprus Securities and Exchange Commission (CySEC) issued a fresh alert on the operations of IMS Crypto, an unlicensed cryptocurrency company. The entity misrepresents having a CySEC trading licence, according to the Cypriot watchdog, by illegally using the information of the approved firm.
The ims-crypto.com website falsely claims to be operated by Initial Merit Secure Ltd. was placed on the warning list of CySEC on 9th February 2023 as it markets itself as a crypto fund managing company promising a monthly return of 15%.
According to the publicly displayed information on ims-crypto.com, not only is it licensed by CySEC, but it is also registered as a Cyprus Investment Firm (CIF) under license number 219/14. However, based on CySec's registration database, this CIF license actually belongs to Initial Merit Secure Ltd, thus proving that IMS is operating illegally as a clone.
As required by article 61E of the Prevention and Suppression of Money Laundering and Terrorist Financing Laws of 20071, as amended, CySEC officially informed the public to be aware of IMS as it is not a legitimate Crypto Asset Service Provide recognized by CySEC.
CySEC encourages retail investors to always confirm with the regulator's registry to validate the credibility of any company.
For traders and investors who think conducting due diligence on brokers is an overwhelming task, download the free WikiFX mobile application on Google Play/App Store. We are a global forex broker regulatory query platform that houses verified information of over 40,000 brokers in collaboration with over 30 national regulators. In just a few clicks, you will get all required information needed in relation the broker of your choice. So, what are you waiting for？ Download now or visit www.wikifx.com for more!
Disclaimer:
The views in this article only represent the author's personal views, and do not constitute investment advice on this platform. This platform does not guarantee the accuracy, completeness and timeliness of the information in the article, and will not be liable for any loss caused by the use of or reliance on the information in the article.
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GMI Ends Retail Brokerage Operations and Relinquishes FCA Licence
Retail forex and CFDs broker GMI has brought its long-running brokerage business to an end, marking the close of roughly 16 years of operations.
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Pepperstone User Reputation: Looking at Real User Feedback and Common Complaints to Check Trust
When traders ask, "Is Pepperstone safe or a scam?" they are dealing with a basic problem in the trading world. On one side, Pepperstone is a well-known broker globally, with licenses from some of the strictest financial regulators. On the other side, ongoing user complaints raise serious questions about how reliable it is. Answering this question needs more than just a simple "yes" or "no." It requires a careful look at the evidence. This article works as an investigative report, designed to break down the puzzle of Pepperstone's reputation. We will go beyond marketing claims and look at objective, checkable data taken directly from WikiFX, a global broker regulation inquiry platform. By looking at its regulatory status, client protection measures, and most importantly, the patterns found within 29 documented user complaints, we aim to provide a clear view of Pepperstone's trustworthiness. Our goal is not to make a final judgment, but to give you the data needed to make your own inform
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A Comprehensive PINAKINE Review: What Traders Need to Know
PINAKINE Liquidity has been in the news for alleged forex trading discrepancies recently. These include the lack of deposit credit into the platform and the poor response from the customer support official. All these have allegedly led to a fund scam. The overall report for the broker is not encouraging either. The broker manages a very poor trust score of 1.22 out of 10 from WikiFX, a leading forex broker regulation inquiry app. In this PINAKINE review article, we have investigated the company profile, trading conditions, user reports and more. Let’s read on!
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