Advisory Warning No. 20 of 2015 - TradeFxi Forex, Inc. (2015-12-31)

Summary

This is a public investor alert issued by the British Virgin Islands Financial Services Commission (FSC) warning that an entity calling itself TradeFxi Forex, Inc. has been falsely claiming to be incorporated, licensed and regulated in the BVI while offering forex, commodities, indices trading and investment brokerage services.

• False claims: TradeFxi Forex, Inc. operated via www.tradefxi.com and falsely claimed to be headquartered and licensed in the BVI.
• Fake licence: The website displayed a reproduction of investment business licence certificate no. SIBA/L/13/1060, purportedly issued to TradeFxi Forex, Inc. on 13 December 2013.
• FSC findings: The FSC confirms TradeFxi Forex, Inc. has never been incorporated or registered as a company in the BVI, has never been licensed to carry on financial services business there, and that the true holder of licence SIBA/L/13/1060 has no connection to TradeFxi Forex, Inc.
• Legal basis: The Advisory is issued under Section 4(1)(l) of the Financial Services Commission Act, 2001.

The FSC advises members of the public to exercise extreme caution if approached by this entity or shown the altered licence certificate, and invites the public to report information about this or other questionable entities purportedly operating in or from the BVI. The notice is informational and does not impose ongoing compliance obligations on regulated entities.

Applies to

members of the public, prospective investors