Sponsored By
de | cn | ru

Market News

Hong Kong’s SFC warns of IMS FX, TechoFx

 Hong Kong’s Securities and Futures Commission (SFC) has issued a warning against the forex brokers IMS FX and TechoFX. Both are claiming to have addresses in Hong Kong, but the former’s claim is false, while the address of the latter belongs to a secretarial company. Worse still, they are making false regulation claims.

Our check revealed that IMS FX mostly targets Chinese clients and claims to have offices in Australia, UK, New Zealand, UAE and several other locations.


According to UK’s Financial Conduct Authority registry of financial services providers, the company has been deregistered.


Similar is the situation in New Zealand, while in Australia, the ASIC register shows that there is a company called IMS FX Group PTY.


TechoFX claims to be regulated by FCA, however, according to FCA’s registry, this is no longer the case and the company has been deregistered.


Either way, we advise our readers to avoid dealing with dubious brokers, especially ones who make false regulation claims or provide fake addresses. More often than not, they are a scam.

TAGS: sfc  hong kong  warning  techofx  ims fx 
Broker Country Regulation Platform Min Deposit Review
Cyprus CySec, FCA MT4, MT5, Web $5 Review Website
Cyprus, Australia CySec, ASIC MT4, Web,
Mobile app
$100 Review Website
UK, Cyprus, Hong Kong FCA, CySEC, SFC MT4, Web,
$100 Review Website
UK, Cyprus, Australia FCA, CySec, ASIC MT4, MT5 $5 Review Website
UK, Australia FCA, ASIC MT4, Trading
$50 Review Website
UK, Cyprus, UAE, South Africa FCA, CySEC, DFSA, FSB MT4, MT5, FxPro
$100 Review Website
Cyprus CySEC MT4, MT5, Web $1 Review Website
Belize IFSC MT4, MT5 $100 Review Website
Australia ASIC MT4, MT5,
$200 Review Website
Seychelles FinaCom MT4, Web $10 Review Website

More Forex Market News

Italy’s CONSOB warns of 4 offshore forex brokers, 1 trading bot

Mar 23 2018 14:53:40

Italy’s financial markets and services regulator CONSOB has issued a warning against four unregulated offshore forex brokers and one trading robot and has ordered them to cease the infringement of the Italian law. Read more

UK’s FCA warns of forex broker BECFD

Mar 23 2018 12:35:56

  UK’s Financial Conduct Authority (FCA) has published a warning against forex brokerage BECFD. According to FCA, the broker, operating via the website becfd.com, has been targeting UK without their authorization. Read more

FCA warns of Plusoption binary options broker

Mar 13 2018 14:42:24

 UK’s Financial Conduct Authority (FCA) has warned that the company Tradeplus Solutions is offering financial services to UK clients without the necessary authorization and that it may be a scam.   According to the FCA, the company operates the binary options brokerage plusoption. Read more

FCA to change license requirements for STP forex brokers – media

Mar 07 2018 14:24:55

UK’s Financial Conduct Authority (FCA) is looking into forcing the straight-through processing (STP) forex brokers to upgrade their licenses to those for full market makers, reports Finance Magnates. Read more

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

Mar 02 2018 13:17:24

  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. Read more

UK’s FCA warns against forex broker SolidCFD

Feb 28 2018 15:03:36

  UK’s Financial Conduct Authority (FCA) has issued a warning that the forex broker SolidCFD, which is not licensed to offer its services in the country, but has been targeting local investors.   It operates via the solidcfd. Read more

Out with the old, in with the new: Could digital currencies replace fiat money?

Feb 21 2018 15:41:59

  In 1971, US President Richard Nixon suspended the convertibility of the dollar into gold and pitched a stone into the relatively calm waters of the global economy. Read more

CONSOB issues cease orders against several forex, binary options brokers

Feb 20 2018 09:24:27

 Italy’s financial markets and service providers regulator CONSOB announced it has issued cease orders against several forex and binary options brokers that are operating in violation of Italian law. Read more

Switzerland’s FINMA warns of forex broker ProfitTrade24

Feb 19 2018 08:26:09

 Switzerland’s financial markets and services regulator FINMA has issued a warning against the forex broker ProfitTrade24. Read more

UK’s FCA warns of unregulated forex broker XMarkets

Feb 16 2018 08:19:16

UK’s Financial Conduct Authority (FCA) has issued a warning that the forex broker XMarkets is not licensed to offer its services in the UK. “This firm is not authorised by us and is targeting people in the UK. Read more

de | cn | ru