Japan’s watchdog, the Financial Services Agency (FSA), has added yet another forex broker to its warning list of financial service providers who do not have license to operate in the country.
The new entry is for FutureMake Ltd., whose forex broker brand FutureMake FX operates from the website futuremake-fx.com. The reason for the inclusion in FSA’s list is that the broker has a Japanese version of the website, obviously targeting Japanese residents and soliciting over-the-counter derivative transactions, without having the proper registration.
On its website the broker claims it has an office in Singapore and the Philippines and a customer service center in Manila, providing consultations in English, Chinese and Japanese. It does not, however, provide absolutely any regulatory information.
FutureMakeFX offers trading in forex, CFDs, oil and gold on the MetaTrader4 platform. The minimum required deposit is $50 and a leverage of up to 1:1000.
This is the second time the FSA updates its warning list this week. It has already warned of five forex and binary options brokers.