Malta’s MFSA warns that Expertzoption is showing a fake license
Malta’s financial regulator MFSA has issued a warning regarding online broker Expertzoption, which operates from website expertzoption.com.
The MFSA stated that Expertzoption claims on its website that it holds a Category 3 Investment Services Licence issued by the Malta Financial Services Authority. The regulator went on to note that Expertzoption is making unauthorised use and reference to the licence number, registered address, and other company details of a Maltese licensed company.
The MFSA wishes to alert the public, in Malta and abroad, that Expertzoption is NOT a Maltese registered company NOR licensed or otherwise authorised by the MFSA to provide any forex trading services or other financial services which are required to be licensed or otherwise authorised under Maltese law.
Furthermore, information available to the MFSA suggests that Expertzoption is likely to be a scheme of dubious nature with a high risk of loss of money. The public should therefore refrain from undertaking any business or transactions with the above-mentioned entity.
A quick visit to the Expertzoption website brings up a warning:
This website has been flagged by Google Analytics Community
We recommend that you do not continue to this website. It is currently under google analytics website review. It has been reported to contain potential threats to web users and google community.
The MFSA would like to remind consumers of financial services not to enter into any financial services transaction unless they have ascertained that the entity with whom the transaction is being made is authorised to provide such services by the MFSA or another reputable financial services regulator. Investors should also be extra cautious when being approached with offers of financial services via unconventional channels such as telephone calls or social media.
A list of entities licensed by the MFSA can be viewed on the official website of the MFSA.