Do not invest more money than you can afford to lose.
Belize’s International Financial Services Commission (IFSC) has granted licenses to three new forex brokers – HeartForex, FX88 and TahoeFX, shows the list of licensed service provider on IFSC’s website.
HeartForex, www.heartforex.com, is owned by Heart Capital Limited. According to its website the company was established in 2012 in New Zealand and in 2013 completed a Financial Services Provider. An SMN check in New Zealand’s FSP registry, however, did not find an entry for such company. There is company called Heart Capital, but it is South African and is a venture capital company specializing in social and sustainability projects.
HeartForex offers trading in forex, CFDs and metals. Trading is done via several types of accounts on the MetaTrader 4 (MT4) platform. The leverage is up to 1:1000. The broker also provides educational materials and offers white label and introducing broker partnerships. Judging by the language versions of the website, the broker is obviously targeting Chinese customers.
The brand FX88 and the website fx88.cn are owned by Anzo Capital. The broker’s main target is also the Asian market. FX88 offers trading in forex and CFDs on metals. The trading platform is MT4. The minimum deposit for a live account is $100 and the maximum leverage is 1:400.
TahoeFX – www.tahoefx.com – are a brand of Tahoe Group – a one-stop financial investment solution provider. The company has an office in Auckland and a license for a financial services provider from New Zealand. There are also several offices in various parts of China, besides the one in Belize.
The broker offers trading in forex and CFDs on precious metals, oil and indices on MT4. The company also has an introducing broker partnership scheme.
In February this year Belize’s watchdog, otherwise known for its lax approach and the ease with which hands out licenses, announced it is raising the minimum capital requirements for brokers to $500 000. Since then it has given licenses to several brokers, among which are Arvis FX and GQ FX.