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FX Oppen
Operating status: SCAM
Website: https://www.fxoppen.co/https://fxopenltd.com/https://app.fxoppen.co/
Broker violations and abnormal records
On May 23, 2024, the Financial Conduct Authority (FCA) issued a warning against FX Oppen, identifying this company as a clone of an FCA-authorized firm. https://www.fca.org.uk/news/warnings/fx-oppen-fxoppen-fxoppenfx-trader-wwwfxoppenco-fxopen-limited-fxopenltdcom-clone-fca-authorised-firm
On May 23, 2024, the Financial Conduct Authority (FCA) issued a warning against FX Oppen, identifying this company as a clone of an FCA-authorized firm. https://www.fca.org.uk/news/warnings/fx-oppen-fxoppen-fxoppenfx-trader-wwwfxoppenco-fxopen-limited-fxopenltdcom-clone-fca-authorised-firmFX Oppen purports to be operated by two companies: Alchemy Markets Limited, allegedly licensed by the Cyprus Securities and Exchange Commission (CySEC), and Market Securities S.A, purportedly regulated by the Bundesanstalt für Finanzdienstleistungsaufsicht (BaFin).
However, our investigations indicate that there are no corresponding records from the CySEC and BaFin does not regulate Market Securities S.A. Moreover, the German financial authority cautions that fraudsters may use officially published data to gain investors' trust, which appears to be the case with FX Oppen. The Financial Conduct Authority (FCA) has identified FX Oppen as a clone firm, unauthorizedly using the information of an FCA-authorized entity to appear legitimate.
In essence, FX Oppen 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.
FX Oppen appears to be a scam.
FX Oppen purports to be operated by two companies: Alchemy Markets Limited, allegedly licensed by the Cyprus Securities and Exchange Commission (CySEC), and Market Securities S.A, purportedly regulated by the Bundesanstalt für Finanzdienstleistungsaufsicht (BaFin).However, our investigations indicate that there are no corresponding records from the CySEC and BaFin does not regulate Market Securities S.A. Moreover, the German financial authority cautions that fraudsters may use officially published data to gain investors' trust, which appears to be the case with FX Oppen. The Financial Conduct Authority (FCA) has identified FX Oppen as a clone firm, unauthorizedly using the information of an FCA-authorized entity to appear legitimate.In essence, FX Oppen 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.FX Oppen appears to be a scam.The Financial Conduct Authority (FCA) has uncovered new information regarding the clone firm FX Oppen. Therefore, it updates the warning against the entity, disclosing this new information to the public. https://www.fca.org.uk/news/warnings/fx-oppen-fxoppen-fxoppenfx-trader-wwwfxoppenco-fxopen-limited-fxopenltdcom-clone-fca-authorised-firm
The Financial Conduct Authority (FCA) has uncovered new information regarding the clone firm FX Oppen. Therefore, it updates the warning against the entity, disclosing this new information to the public. https://www.fca.org.uk/news/warnings/fx-oppen-fxoppen-fxoppenfx-trader-wwwfxoppenco-fxopen-limited-fxopenltdcom-clone-fca-authorised-firmOn 1 November, 2024, the Malta Financial Services Authority (MFSA) issued a warning against FX Oppen, stating this broker is neither a Maltese registered company nor licensed or otherwise authorised by the MFSA to provide any investment services or other financial services which are required to be licensed or otherwise authorised under Maltese law. https://www.mfsa.mt/news-item/mfsa-warning-fxoppen-unlicensed-entity/
On 1 November, 2024, the Malta Financial Services Authority (MFSA) issued a warning against FX Oppen, stating this broker is neither a Maltese registered company nor licensed or otherwise authorised by the MFSA to provide any investment services or other financial services which are required to be licensed or otherwise authorised under Maltese law. https://www.mfsa.mt/news-item/mfsa-warning-fxoppen-unlicensed-entity/BrokersView found that the domains "https://www.fxoppen.co/; https://fxopenltd.com/; https://app.fxoppen.co/" are currently inaccessible. This is widely regarded as a significant red flag, as the suspension of a broker's website often points to underlying regulatory or operational issues.
BrokersView found that the domains "https://www.fxoppen.co/; https://fxopenltd.com/; https://app.fxoppen.co/" are currently inaccessible. This is widely regarded as a significant red flag, as the suspension of a broker's website often points to underlying regulatory or operational issues.
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