Forex Place Ltd. - Advisory Warning No. 21 of 2013 (2013-06-14)

Summary

This is a public advisory warning issued by the BVI Financial Services Commission (FSC) alerting the public that Forex Place Ltd., also trading as 4XP (www.4xp.com), has been offering online forex investment and trading services without holding the required FSC licence for investment business.

• Warning: Forex Place Ltd. (trading as 4XP) has never been licensed by the FSC to carry on investment business in or from within the BVI.
• Public advice: Members of the public are urged to exercise extreme caution in any dealings with Forex Place Ltd. / 4XP.
• Legal basis: The advisory is issued under Section 4(1)(l) of the Financial Services Commission Act, 2001.
• Call for information: The FSC invites the public to report information on questionable or unlicensed entities operating in or from the Territory.

The notice is informational and does not impose any continuing compliance obligations on regulated entities; it serves to warn consumers and market participants and to encourage reporting of suspected unlicensed activity.

Applies to

unlicensed entities offering investment business, general public/investors