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ASIC warns against unregulated broker GFC Investment

May 23 2019
By
Jonathan Smith

 

The Australian Securities and Investment Commission (ASIC) has blacklisted unregulated forex broker GFC Investment. The regulator advised investors not to deal with this broker, as it is not authorized to provide financial services in Australia and could be involved in a scam.

 

The business listed below has made unsolicited calls or sent emails about investing, financial advice, credit or loans and does not hold a current Australian Financial Services (AFS) license or an Australian Credit license from ASIC,” reads the notice of the Australian financial watchdog.

 

GFC Investment (operating gfcinvestment.com) is owned and operated by the GFCInvestment group KINTEKA OU, based in Estonia, and DARTALON LTD, based in St. Vincent & Grenadines.  None of these companies is authorized by Estonian Finantsinspektsioon, nor by ASIC or any other governmental agency.

 

Actually, ASIC isn’t the first regulator to warn against GFC Investment. The broker was also blacklisted by the Italian financial regulator CONSOB. We also have to mention that our review of GFC Investment got a lot of negative feedback and complaints from people who claim to be scammed by the broker.

 

The ASIC is an independent body that regulates and oversees local companies, financial markets, financial services providers and professionals who deal and advise in investments, among other organizations. The regulator also keeps a list of unlicensed forex brokers and regularly issues warnings, as investment scams in the country are on the rise, as recently reported by the Australian Competition and Consumer Commission (ACCC)

 

TAGS: ASIC  warning  GFC Investment  GFC Investments  warning  Australia 
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