Zfxtrade.com claims to be registered with Saint Vincent and the Grenadines Financial Services Authority (SVG FSA) and Companies House of United Kingdom (CH) under registration numbers 138 LLC 2019 and 11077380. We searched SVG FSA and CH and found some results. But no website or address can be verified. Besides, neither SVG FSA nor CH regulate forex activities or issue forex licenses. In other words, having registration does not mean being authorized to provide forex services.
Zfxtrade.com also claims to be a licensed broker under double regulations of the United Kingdom Financial Conduct Authority (UK FCA) and the Financial Services Authority of Seychelles (Seychelles FSA) under regulatory numbers 816055 and SD092. We first searched the Seychelles FSA but found a warning against the broker. That means zfxtrade.com is not authorized by Seychelles FSA to provide financial services.
We searched UK FCA and found a result. However, the approved website in UK FCA is "http://www.zenfinex.co.uk/" instead of "https://zfxtrade.com". That means zfxtrade.com may falsely use the regulatory information of a licensed firm.
Moreover, UK FCA issued a warning that zfxtrade.com is a clone firm. Zfxtrade.com is using the details of firms that UK FCA authorizes to try to convince people that they work for a genuine, authorized firm.
The truth is that zfxtrade.com is not regulated by any regulators. Letting this broker hold or control investors' money is unsafe and the money can not be protected by any laws. Therefore, it is a scam.
Zfxtrade.com claims to be registered with Saint Vincent and the Grenadines Financial Services Authority (SVG FSA) and Companies House of United Kingdom (CH) under registration numbers 138 LLC 2019 and 11077380. We searched SVG FSA and CH and found some results. But no website or address can be verified. Besides, neither SVG FSA nor CH regulate forex activities or issue forex licenses. In other words, having registration does not mean being authorized to provide forex services. Zfxtrade.com also claims to be a licensed broker under double regulations of the United Kingdom Financial Conduct Authority (UK FCA) and the Financial Services Authority of Seychelles (Seychelles FSA) under regulatory numbers 816055 and SD092. We first searched the Seychelles FSA but found a warning against the broker. That means zfxtrade.com is not authorized by Seychelles FSA to provide financial services. We searched UK FCA and found a result. However, the approved website in UK FCA is "http://www.zenfinex.co.uk/" instead of "https://zfxtrade.com". That means zfxtrade.com may falsely use the regulatory information of a licensed firm. Moreover, UK FCA issued a warning that zfxtrade.com is a clone firm. Zfxtrade.com is using the details of firms that UK FCA authorizes to try to convince people that they work for a genuine, authorized firm.The truth is that zfxtrade.com is not regulated by any regulators. Letting this broker hold or control investors' money is unsafe and the money can not be protected by any laws. Therefore, it is a scam.
