Public Statement 16 of 2023 - First Class Trading Solutions, Ltd.

Summary

This is a public warning notice issued by the BVI Financial Services Commission on 26 July 2023 concerning First Class Trading Solutions, Ltd. and the trading brand FIRSTCLASS FOREX FUNDS. The Commission states that this entity, which operates the website firstclassforexfunds.co and purports to offer trading in forex, crypto, indices and other financial services, has never been licensed or regulated by the Commission to carry on any financial services business in or from within the British Virgin Islands.

• Warning: First Class Trading Solutions, Ltd. and/or FIRSTCLASS FOREX FUNDS is not and has never been licensed or regulated to provide a trading platform or conduct any financial services business in or from the BVI.
• Public advice: Members of the public are advised to exercise extreme caution if solicited to conduct business with this entity.
• Call for information: The public is invited to provide the Commission with any relevant information about questionable entities or improper activities operating in or from the Territory.
• Legal basis: The statement is issued pursuant to Section 37A of the Financial Services Commission Act, 2001.

This notice is informational and protective in nature; it does not impose ongoing compliance obligations on regulated entities, but serves to alert the public and industry to an unlicensed, potentially fraudulent operator.