RECOMMENDED FOREX BROKERS
Do not invest more money than you can afford to lose.
The Commission de Surveillance du Secteur Financier (CSSF) – Luxembourg’s financial regulator – has issued a warning against the forex and binary options broker Zidex Financials.
According to the watchdog, Zidex Financials claims to be located at “5th floor, 58 boulevard Royal, 2887 Luxembourg” and is falsely claiming to be regulated by the CSSF. “Zidex Financials is not supervised by the CSSF and has not been granted the authorization required to provide banking and/or financial services in or from Luxembourg,” the regulator notes.
As per a posting on the broker’s site, it is “a leading European financial risk management broker under regulation by CSSF”. It provides two addresses – headquarters in Luxembourg and a contact address in Lincoln, Nebraska. The contact telephone number, on the other hand, is in the UK.
Interestingly, Zidex Financials shares a CSSF registration number (most likely fake), with another forex and binary options broker the Luxembourg regulator has already warned about – FxMarketLive.
As SMN already reported, the two brokerages also share the same Luxembourg address and the same website design and content.