Malta MFSA warns against Fast FX Trading and SpecialCFD
Maltese financial regulator The Malta Financial Services Authority (MFSA) has issued a couple of new warnings, regarding unlicensed offshore brokers.
First, the MFSA said it has become aware of an entity operating under the name of Fast FX Trading which has an internet presence at fastfxtradings.com. According to this website, the entity claims to be “A place for everyone who wants to simply buy and sell Bitcoins. Deposit funds using your Visa/MasterCard or bank transfer. Instant buy/sell of Bitcoins at fair price is guaranteed. Nothing extra. Join over 700,000 users from all over the world satisfied with our services.”
The MFSA said that Fast FX Trading is making unauthorised use and reference to the license number and other company details of an MFSA licensed company. The regulator wishes to alert the public, in Malta and abroad, that Fast FX Trading is NOT a Maltese registered Company NOR licensed or otherwise authorised by the MFSA to provide any forex trading services, VFA services or other financial services which are required to be licensed or otherwise authorised under Maltese law.
Furthermore, information available to the MFSA suggests Fast FX Trading 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.
Second, the MFSA added that it has also become aware of an entity operating under the names of SpecialCFD and New Golden Trade Ltd which has an internet presence at specialcfd.com. On such website it is stated that the entity is “fully licensed and regulated, our trading expertise encompasses currencies, precious metals, commodities, CFDs and Futures.”
The regulator said it would like to inform the public in Malta and abroad, that SpecialCFD / New Golden Trade Ltd is NOT a Maltese registered Company NOR licensed or otherwise authorised by the MFSA to provide any forex trading services, VFA related services or any other financial services which are required to be licensed or otherwise authorised under Maltese law.