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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 
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