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BoForex
Operating status: SCAM
Website: https://boforex.com/
Broker violations and abnormal records
BoForex claims that its operating entity BoForex Company LTD is a “fully licensed and regulated broker”. However, the only regulatory information it provides is a purported registration in Saint Vincent and the Grenadines.
First, we were unable to locate any record of BoForex Company LTD in the official register of the Financial Services Authority (FSA) of Saint Vincent and the Grenadines. Second, even if such a registration existed, it would only confer International Business Company (IBC) status, which does not constitute a valid financial services or forex trading license.
Therefore, BoForex’s claims about being fully licensed appear to be highly misleading, and possibly false. At worst, it may not even be legitimately registered as a company.
BoForex appears to be a scam.
BoForex claims that its operating entity BoForex Company LTD is a “fully licensed and regulated broker”. However, the only regulatory information it provides is a purported registration in Saint Vincent and the Grenadines. First, we were unable to locate any record of BoForex Company LTD in the official register of the Financial Services Authority (FSA) of Saint Vincent and the Grenadines. Second, even if such a registration existed, it would only confer International Business Company (IBC) status, which does not constitute a valid financial services or forex trading license. Therefore, BoForex’s claims about being fully licensed appear to be highly misleading, and possibly false. At worst, it may not even be legitimately registered as a company. BoForex appears to be a scam.
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