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Hong Kong's SFC warns of BNP Forex

 Hong Kong's financial markets and services provider regulator, the Securities and Futures Commission (SFC), has published a warning against the forex broker BNP Forex.


 

According to the publication, the company is unlicensed and its address belongs to a “business center”.


 

Our check revealed that the broker's site is not active, but a cached version from end of August shows it is targeting Chinese-speaking clients and is offering trading in forex and CFDs. Apparently the broker is abusing the name of the major international bank BNP Paribas, which also offers forex trading through its proprietary platform Cortex FX. It, however, is not intended for retail clients.


 

Companies using the name of a well-known entity are called “clones” and are often a scam that misleads clients. Our best advice is to avoid them.

 

 

TAGS: hong kong  fsc  bnp forex 
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