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Hong Kong’s SFC warns against KB Capitals and TGC FX

 

Hong Kong’s Securities and Futures Commission (SFC) has added two more unregulated brokers to its warning list previous week: KB Capitals and TGC FX (or TGC Group). The SFC pointed out that both brokers are not authorised to offer financial services in Hong Kong. 

 

Our check on the website of TGC FX (www.tgcgroupfx.com) revealed that it offers trading in forex, as well as CFDs on indices and commodities on the MetaTrader 4 platform. The broker is allegedly operated by Times Global Capital Group Limited, a company founded in Hong Kong in 2010. It does not claim to be regulated in Hong Kong or elsewhere, only mentions the names of several major banks.

 

The other broker Hong Kong’s SFC has warned against, KB Capitals, also offers trading on the MT4 platform. It covers many asset classes, including cryptocurrencies  like Bitcoin, however the spreads appear a bit high, around 2.2 pips on majors. According to the SFC, the broker previously provided a Hong Kong address under the name of Global Media Broadcast Limited. This Hong Kong address in fact belongs to a secretarial company.

 

When we reviewed KB Capitals, we found several companies and official addresses on its website, and now it is claiming that its legal address is 108841, city of Moscow.

 

As a general rule, unregulated brokers or ones making false claims, are to be avoided, as often they are a scam. It is better to deal with reputable and properly regulated brokers, like the ones supervised by the FCA or ASIC.  In case you are looking for a forex and CFD broker operating legally in Hong Kong, you may check out the link below:

 

>> Forex brokers regulated by Hong Kong’s SFC<<

 

 

TAGS: SFC  Hong Kong  warning  KB Capitals  TGC Group 
Broker Country Regulation Platform Min Deposit Review
US CFTC, NFA MT4, Web,
in-house
$50 Review Website
US NFA, CFTC MT4 $250 Review Website
Cyprus, UK, Mauritius CySec, FCA, IFSC MT4, MT5, Web $10 Review Website
Australia, Cyprus ASIC MT4, MT5,
IRESSTrader
$100 Review Website
UK, Cyprus, Australia FCA, CySec, ASIC MT4, MT5 $5 Review Website
UK, Australia, South Africa FCA, ASIC, FSCA MT4, Trading
Station,
NinjaTrader
$50 Review Website
UK, Cyprus, UAE, South Africa FCA, CySEC, DFSA, FSB MT4, MT5, FxPro
Markets,
cTrader
$100 Review Website
Cyprus CySEC MT4, MT5, Web $1 Review Website
Belize IFSC MT4, MT5 $100 Review Website
Cyprus, UK, South Africa, UAE CySec, FCA, FSCA, DFSA MT4, MT5, Web $5 Review Website
Cyprus, UK CySEC, FCA MT4, MT5 $1 Review Website
UK FCA MT4, Web, MT4
for Mac
$100 Review Website
Australia, UK ASIC, FCA MT4, MT5,
cTrader
$200 Review Website

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