Belize is one of the offshore jurisdictions offering regulation in the fields of forex, binary options and other investment types , that are gaining popularity and appeal amongst firms wishing to get their offering of such services regulated, due to the fact that processes in such jurisdictions are simpler, faster and cost less than those under other regulatory authorities, for example in Europe, Australia or elsewhere.
However, despite its profile as a more lenient regulator, the International Financial Services Commission of Belize (IFSC) is stepping up its gear and becomes stricter in hunting down and punishing companies in its jurisdiction that break the rules. Within this framework, the IFSC informed the public that G. STAR FX INC. of No. 1 Orchid Garden Street, P.O. Box 445, Belmopan, Belize, as well as BROKER CAPITAL (BELIZE) LIMITED of No. 5 Cork Street, Belize City, Belize, C.A. are no longer licensed by the International Financial Services Commission of Belize (IFSC) for trading in securities or to engage in any other international financial services, also urging all parties concerned to take note of this and exercise caution.
Taking matters one step further, the Belize watchdog has also more recently issued issued warnings and Cease & Desist orders against two companies offering Forex services, namely FXPrivate and MT Capital Partners.
The warning notice and cease and desist order against FXPRIVATE COMPANY LTD mentions that it has come to the notice of the International Financial Services Commission of Belize (IFSC) that FXPrivate Company Ltd., a former international business company, is offering forex brokerage services and other international financial services without a licence from the IFSC. The warning further noted that this entity was struck off the International Business Companies Register of Belize on 1 January 2016 and that therefore FXPrivate Company Ltd. is directed to cease and desist from engaging in the said unlicensed activities forthwith.
The warning notice and cease and desist order against MT CAPITAL PARTNERS LTD, notifies that MT CAPITAL PARTNERS LTD., a former international business company, is not and has never been licensed by the International Financial Services Commission of Belize (IFSC) to engage in FX advisory services, or in any other international financial services. The warning further highlights that this entity was dissolved on 13th January, 2016 and is no longer on the International Business Companies Register of Belize, stressing that it is thus directed to cease and desist from engaging in the said unlicensed activities forthwith.
George Milios is the founder of onlineforextrading.net, the binary options and forex news portal which is dedicated to providing you with all the information you need to successfully trade.