Trade Insider
by Mary on February 12, 2019

Belize’s IFSC revokes licenses of over forty FX companies

International Financial Services Commission of Belize has published the list of the brokers that are no longer licensed by Belize’s financial watchdog. The list includes asset managers, binary options and Forex brokers that had their licenses revoked since January 1st, 2019.

The list includes over forty broker companies that no longer have a right to provide the local customers with investment and other services. Following the regulator’s decision, if the brokerage firms will continue providing services to the domestic clients without the proper authorization and regulation, this practice will be considered as a criminal offense and relevant measurements will be taken.  As the list is not short, there cannot be any particular reason for revoking licenses for all the brokers that are included. As the manifestation issued by the IFSC reads there is no one reasoning that fits all brokers for lapsing the licenses.

The IFSC is keeping an eye on the brokers

The Belize watchdog already had an experience of having unregulated brokerage firms within its jurisdiction. Now as the demand on cryptocurrencies and even Forex trading is growing the financial world is trying to adapt to it and many institutions are making the needed adjustments within the area of their competence and borders. Of course, Belize IFSC is not an exception, the financial authority has already started to monitor crypto companies and their activities closely.

The fact that the financial regulator of Belize has revoked the licenses of the brokers should not be interesting for the local investors only. ESMA has implied numerous regulations on the brokers in Europe – such as restricting high leverages and putting a cap of 1:30 to it, or banning binary options in European Union – many of such companies preferred to move offshore where the regulations are not tight at all. At the same time, investors in Europe who prefer to have high leverages and conditions that are no longer available with the European brokers turned to the offshore Forex brokerage firms. Some of those companies might be the ones that were regulated by the IFSC and are not authorized any longer.

While the IFSC is not one of the most influential and respected financial authority as for example FCA, it is still better to know that the broker is regulated. Now as the regulator has provoked the licenses of 48 brokers you might find some of the companies in the list that are offering their services internationally but are no longer regulated by any regulator.

Financial providers that are no longer regulated by the IFSC:

  1. Agros Investments Limited
  2. Allied Asset AG (Belize) Limited
  3. Alpha Capital Management Limited
  4. Always Rich Global Limited
  5. Arosemena and Diaz Trust (Belize) Limited
  6. ATC Services (Belize) Ltd.
  7. Belize Offshore Formation Limited
  8. Belize Offshore Incorporation Limited
  9. Belize Offshore Solutions Limited
  10. Bluemax Global Ltd.
  11. Bondex Global Limited
  12. BP Global Limited
  13. Capital Market Solutions Inc.
  14. Choice Trust Limited
  15. CST Financial Services Ltd.
  16. Delwyn Trading Limited
  17. E-Pay Services Limited
  18. Financials Worldwide Inc.
  19. Finpro Holdings Inc.
  20. FirstFX Global Limited
  21. Fort Financial Services Ltd.
  22. FX4WIN International Limited
  23. FXGroup International Ltd.
  24. G.E.B. Global Equity Brokers (Belize) Limited
  25. Georgetown Administrative Services Limited
  26. Green Investment House Corp.
  27. IFA FX Ltd.
  28. IIG Ltd.
  29. IPCTRADE INC.
  30. Keyforce Management Limited
  31. Marigold Global Markets Corporation
  32. Marilyn Williams
  33. Maxi Services (Belize) Ltd.
  34. MB Trust Limited
  35. Mercury Limited
  36. NPBFX Limited
  37. OR Capital Ltd.
  38. OWA Trust Ltd.
  39. Pacific 2000 Securities Ltd.
  40. PMA Agents Limited
  41. Remit Now International Limited
  42. Safe Gold International (Belize) Limited
  43. Salma Markets Companies Corp.
  44. Sandpiper Investments Limited
  45. Servicios Bursátiles Internacionales Ltd
  46. Stephen L. Thompson
  47. Tyrsis Trust Limited
  48. ZB Forex Ltd.

By Mary

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