Hong Kong’s watchdog warns against FXGlobal1

Hong Kong’s watchdog warns against FXGlobal1


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Hong Kong’s Securities and Futures Commission (SFC) has added the FXGlobal1 forex broker to its warning list of unlicensed entities.

According to the notice on SFC’s website, the company uses a bank account in Hong Kong in the name of Expert Capital Ventures Limited for settlement.

On its website FXGlobal1 provides a customer support telephone number in Hong Kong, but does not provide many other details and there is no regulation information either. The broker offers trading in forex, metals and oil on real and demo accounts. The trading platform is Vertex, developed by the company Citypoint Trading, regulated by UK’s FCA.

FXGlobal1 also offers educational materials on forex trading and market news analysis.

It appears that so far the unregulated FXGlobal1 has managed to stay below the radar of the watchdogs, as there is no other warning about it.

Earlier this month the SFC warned of the CentralOption binaries broker and MomentumFX.

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