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Belize's Regulator Terminates License of InstaMarkets Ltd

International Financial Services Commission (IFSC), the Belize's financial sector watchdog, has terminated the license of Forex broker InstaMarkets Limited, the Belize-based subsidiary of the global Forex services provider InstaForex. Below you can see the warning by the regulator, date October 16th:
 
 
InstaForex boasted the opening of its Belizean business in October 2011, stressing the contribution of the licensee to the image and performance of the entire global group of companies. Thanks to a forum post , we are informed of the stance of InstaForex on the issue. It says that “The company refused the Belizean license, as it has chosen other regions as priority targets of development. No problem for clients of Instaforex Company. This license was only for InstaMarkets Ltd.”
 
The explanation is likely to be plausible, as the regulator itself did not provide any reasons for ending the license. 
 

About InstaForex

 
InstaForex is a part of InstaForex Companies Group, a leading provider of online trading services. InstaForex Company is an ECN Forex broker, which offers a wide variety of trading options, instant technical support and consulting services.
In 2008, the broker joined the Russian Association of Financial Market Members (RAFMM) – an independent regulatory authority which monitors the operations of financial companies in Russia and examines any claims between brokers and their customers.
TAGS: instaforex  instamarkets forex broker  instamarkets bz  instamarkets ltd  instamarkets belize  International Financial Services Commission  ifsc  forex regulation  forex warning   

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