IFSC Warns Against Belize Based Broker Due to Forged License

IFSC Warns Against Belize Based Broker Due to Forged License

The International Financial Services Commission (IFSC) of Belize has released a statement warning locals and traders alike that Broker Fixed Star lnlvestment Inc. [sic] is operating under a fake license. The company falsely claims to own a trading in securities license from the Belizean regulator, going so far as to showcase the forged document on the website in an attempt to fool clients regarding its status. The IFSC further noted that none of the other local regulators have issued the broker a certificate to proceed with any online trading operations either.

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Fixed Star Inlvestment Inc. is also known as Fixed Star Group, and it claims an address at Withfield Tower Third Floor 4792 Coney Drive, Belize City. This broker promotes itself as a firm which trades forex, CFDs, energy, and precious metals. The false license raises quite a few red flags.

More than a Single Occurrence

This situation is not a first for the IFSC, as Finance Magnates has covered several other similar instances. Just last month, the regulator warned against two companies, Club Fast Coin and TRADEEX LTD. The latter of the two brokers made the same faux pas as Fixed Star Inlvestment has, displaying a fake certificate on its website. Another such situation occurred at the end of March, when yet another firm by the name of Premier Point Marker falsely claimed to be authorized in Belize.

As of now, it remains unclear whether the brokers themselves are forging licenses similar to those issued by the IFSC, or if there is a third party involved.

Source: Finance Magnates

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