Malta’s financial regulator The Malta Financial Services Authority (or “MFSA”) has issued a number of warnings, stating that it has become aware of entities falsely claiming to be licensed in the country. The websites noted seem to be in fact offshore, unlicensed brokers, masquerading as EU-licensed.
The entities / websites mentioned in the MFSA warnings are MatrixFX Trade or MFXT Ltd, which have an internet presence at matrixfxtrade.com, and ApexTrade Options Ltd which has an internet presence at apex-tradeoptions.com/index.php.
ApexTrade claims to be “authorized and regulated by MFSA as a MiFID firm and holds a Category 3 Investment Services Licence”. MatrixFX / MFXT claims to be “a regulated broker by the MFSA over 7 years” that “offers forex and CFD exchanging”.
In all cases, the MFSA notes that these websites are making unauthorised use and reference to the registered address and other company details of a Maltese licensed company.
The MFSA wishes to alert the public, in Malta and abroad, that ApexTrade, MatrixFX Trade and MFXT Ltd are NOT Maltese registered companies NOR licensed or otherwise authorised by the MFSA to provide the service of an exchange or other financial services which are required to be licensed or otherwise authorised under Maltese law.
The public should therefore refrain from undertaking any business or transactions with the above-mentioned entities.
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 are advised to 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 www.mfsa.mt/financial-services-register/.