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Belize’s IFSC revokes license of FMfx

 Belize’s International Financial Services Commission (IFSC) announced it is revoking the license for trading in financial and commodity-based derivatives instruments and other securities of FM Marketing Ltd. That operates the forex broker FMfx.


“The public is, therefore, hereby informed that the Trading in Securities licence issued to the Company, reference number IFSC/60/372/TS/17, stands revoked with effect from 13th December 2017”, IFSC said.


Belize is a popular offshore destination fore forex and binary options brokers, thanks to its lax regulation and low taxes. Still, the IFSC regulation and oversight is relatively better than that of other offshore authorities and has some clout.


The news comes shortly after the Australian Securities and Investment Commission has put FMfx on its warning list of unlicensed companies soliciting Australian clients and noted it may be a scam. Our readers also agree unanimously that the broker is fraudulent and call it “scam”, “thieves” and “criminals”.


Meanwhile, it seems that FMfx has suspended operations and is not accepting new clients.



TAGS: belize  ifsc  fmfx 
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