DECFIN makes messy and confusing statements on its website, a new site created just a few months ago in March. Firstly, according to its Terms of service agreement, DECFIN states that its services are provided by wbfx.io in the first line, whilst it changes its parlance in the third paragraph where it says its services are provieded by the limexclub.com. After going through these contradictory claims, BrokersView deems that this broker resembles a newly created hybrid of wbfx.io and the limexclub.com, which is already a big red flag. By the way, both wbfx.io and the limexclub.com are not legitimate. Secondly, DECFIN claims to be operated by FENIX GROUP LLC, a company registered in St. Vincent and the Grenadines. Nevertheless, the SVG FSA does not issue any licenses for forex trading or brokerage nor does it regulate, monitor, supervise or license international companies engaging in such activities. Besides, DECFIN states that it is controlled by the Cyprus Securities and Exchange Commission (CySEC) and the UK Financial Supervisory Authority (FSA). In fact, however, the regulator of UK is the Financial Conduct Authority (FCA) rather than the so-called FSA. And of course we didn’t find any regulation of DECFIN from CySEC and FCA. So DECFIN is currently not regulated by any financial regulator. That means investors’ funds in this broker is unsafe and cannot be protected by any laws. Therefore, it is a scam broker.
DECFIN makes messy and confusing statements on its website, a new site created just a few months ago in March. Firstly, according to its Terms of service agreement, DECFIN states that its services are provided by wbfx.io in the first line, whilst it changes its parlance in the third paragraph where it says its services are provieded by the limexclub.com. After going through these contradictory claims, BrokersView deems that this broker resembles a newly created hybrid of wbfx.io and the limexclub.com, which is already a big red flag. By the way, both wbfx.io and the limexclub.com are not legitimate. Secondly, DECFIN claims to be operated by FENIX GROUP LLC, a company registered in St. Vincent and the Grenadines. Nevertheless, the SVG FSA does not issue any licenses for forex trading or brokerage nor does it regulate, monitor, supervise or license international companies engaging in such activities. Besides, DECFIN states that it is controlled by the Cyprus Securities and Exchange Commission (CySEC) and the UK Financial Supervisory Authority (FSA). In fact, however, the regulator of UK is the Financial Conduct Authority (FCA) rather than the so-called FSA. And of course we didn’t find any regulation of DECFIN from CySEC and FCA. So DECFIN is currently not regulated by any financial regulator. That means investors’ funds in this broker is unsafe and cannot be protected by any laws. Therefore, it is a scam broker.
