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DEMO
Operating status: SCAM
Broker violations and abnormal records
On May 1, 2024, the Securities Commission of The Bahamas (SCB) added DEMO to warning list for offering financial services or products without their permission. https://www.scb.gov.bs/wp-content/uploads/2024/05/Public-Notice-4-of-2024-Entities-Not-Regulated-by-the-Securities-Commission-of-The-Bahamas-May.pdf
On May 1, 2024, the Securities Commission of The Bahamas (SCB) added DEMO to warning list for offering financial services or products without their permission. https://www.scb.gov.bs/wp-content/uploads/2024/05/Public-Notice-4-of-2024-Entities-Not-Regulated-by-the-Securities-Commission-of-The-Bahamas-May.pdfDEMO offers financial services through two websites: txkjym.xyz and penkn.com. The former was registered in April 2024 and the latter in August 2023. However, this brand asserts that it was founded in 2010 and has won awards since 2016. The discrepancy between these claims and the actual website registration dates raises a red flag.
Furthermore, while DEMO claims to be registered with the Securities Commission of the Bahamas (SCB), the SCB has added the broker to its warning list, refuting such a claim. This suggests that DEMO is not only unregulated but also potentially fraudulent.
In essence, DEMO is not regulated by any governing body. Entrusting it with investors' funds is highly risky, as there are no legal protections in place to safeguard the funds.
DEMO appears to be a scam.
DEMO offers financial services through two websites: txkjym.xyz and penkn.com. The former was registered in April 2024 and the latter in August 2023. However, this brand asserts that it was founded in 2010 and has won awards since 2016. The discrepancy between these claims and the actual website registration dates raises a red flag.Furthermore, while DEMO claims to be registered with the Securities Commission of the Bahamas (SCB), the SCB has added the broker to its warning list, refuting such a claim. This suggests that DEMO is not only unregulated but also potentially fraudulent.In essence, DEMO is not regulated by any governing body. Entrusting it with investors' funds is highly risky, as there are no legal protections in place to safeguard the funds.DEMO appears to be a scam.
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