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FSMA warned against 365 Markets, CFDS100, FXG Trade, HybridReserve, and PBN Capital

Feb 22 2019
By
Jonathan Smith

 

The Belgian Financial Services and Markets Authority (FSMA) issued an official notice on Tuesday, warning the public against 365 Markets, CFDS100, FXG Trade, HybridReserve, and PBN Capital. The financial regulator stated that these brokers are unlawfully offering binary options, forex products and/or CFDs on the Belgian market, and are most likely involved in investment scam.

 

Therefore, FSMA strongly advises against responding to any offers of financial services made by the brokers mentioned above. Actually, all of them are already present in the warning lists of other financial regulators:

 

- forex and binary options broker 365 Markets (Trustnet Ltd) operating via www.365markets.com, was blacklisted by the UK’s Financial Conduct Authority (FCA) and the Financial Markets Authority (FMA) of New Zealand;

- Estonian broker CFDs100 (Trsystem Limited) operating via www.cfds100.com, is present in the alert list of the FCA and the Bank of Lithuania;

- Bulgarian brokerage FXG Trade (Capital FXG Ltd / Nordic Pearl Ltd) operating via www.fxgtrade.com, is also blacklisted by the UK’s FCA, as well as by the Italian CONSOB and the Belgian Financial Services And Markets Authority (FSMA);

- offshore HybridReserve (Singlebell LTD / SingleBell OU operating via operating via www.hybridreserve.com was blacklisted by the FSMA;

- FSMA and CONSOB both issued a warnings against PBN Capital (Capital Tech Ltd / Pbox Ltd) operating via www.pbncapital.com. The companies behind the brand run two more brokerage brands - PBN Trade and PBN Invest.               

 

Considering the above warnings by various financial regulators and the number of negative user comments on our reviews of these brokerages, there’s no doubt that all of them are running investment scams.

 

In its official notice, the Belgium’s financial watchdog has also included a list of recommendations to investors. FSMA advises them to verify the identity of the company offering financial services, to check whether it is licensed, whether it is present in warning lists published by FSMA and other regulators. The regulator also recommends that investors are wary of unsolicited phone calls/emails (cold calling), of requests for money transfer to a country without any connection to the company, of "cloned firms", etc.

 

We would also like to remind you that in August 2016 Belgium officially prohibited trading in any forex and binary options products in an attempt to put an end to the scams run by fraudulent brokers. The ban includes both regulated and unregulated companies.

TAGS: FSMA  365 Markets  CFDS100  FXG Trade  HybridReserve  PBN Capita  warning  scam  Belgium 
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