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Belize’s IFSC alerts that FX Broker Pro is not licensed

Mar 02 2018
By
Jonathan Smith

 

Belize’s financial services regulator, the International Financial Services Commission (IFSC) has warned that the forex broker FX Broker Pro is not licensed, nor regulated by it.

 

According to the commission, FX Broker Pro is showing a fraudulent IFSC license number, and may operate in breach of the IFSC act and other laws of Belize. The commission further warns that those who invest with FX Broker Pro and other unregulated brokers, do so at their own risk.

 

When we checked the website of FX Broker Pro, the fake IFSC license number was no longer present. In fact, the broker’s “About us” section does not provide any relevant information about the company behind the brand. Besides, the website does not specify the broker’s spreads in a correct way, nor the instruments available for trade or the payment methods supported. Free demo accounts are not offered by FX Broker Pro either, so there are really too many red flags with regards to this broker.

 

When engaging with non-regulated brokers, traders are putting their investments at higher risk. We strongly advise you to only deal with forex brokers, licensed by reputable regulatory agencies, such as FCA, CySEC, or ASIC, among others.

 

Despite not being known as the strictest regulator, the IFSC is taking itself seriously enough to maintain a registry of the companies regulated by it and to regularly publish warnings of brokers falsely claiming a Belize license.

 

TAGS: FX Broker Pro  IFSC  warning 
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