Do not invest more money than you can afford to lose.
The International Financial Services Commission (IFSC) of Belize warned on Wednesday Global Trade Markets Ltd. and Alcurex Ltd. are neither based nor licensed in Belize.
The regulator warned investors should exercise extreme caution when dealing with either of the companies.
Alcurex, a cryptocurrency exchange, claims to be based in Belize, but it is not licensed to provide onlune cryptocurrency exchange services by the IFSC or any other regulatory body in the country. The watchdog has ordered it to immediately cease and desist from engaging in the said unlicensed activities.
Meanwhile, Global Trade Markets presents a fake IFSC license for providing trading services in financial and commodity-based derivative instruments. The license was purportedly signed by Gian C. Gandhi, a former director general of the IFSC. The regulator referred to Global Trade Markets’ license as being “a complete forgery”.
“We confirm that Global Trade Markets Ltd. is not licensed by the International Financial Services Commission of Belize or any other competent authority in Belize to engage in any type of trading business,” the statement read.
Belize is an offshore destination. It is chosen by many financial service providers as a regulatory location since the IFSC’s requirements are less strict and
When engaging with unauthorized and non-regulated brokers, traders are putting their investments at higher risk. We strongly advise you to only deal with regulated forex brokers, authorized by reputable regulatory bodies like CySec, FCA, and CFTC/NFA, among others.