MFSA warns against Forex MMCIS

The financial markets regulator in the popular jurisdiction of Malta issued a warning on 6 October 2014 in order to warn against the entity Forex MMCIS Group, which operates from website  https://forex-mmcis.com.

MMCIS is a Ukrainian based broker that also offers its services in mainland Russia, against whom several complaints have been voiced in recent weeks by clients reporting significant problems especially when it comes to withdrawing funds.

The Malta Financial Services Authority says in its warning that it has recently become aware of the above-mentioned entity and that it wishes “to alert the public, in Malta and abroad, that Forex MMCIS Group is NOT licensed nor awaiting to be licenced by the Malta Financial Services Authority to provide any type of financial service including foreign exchange service. Accordingly, the MFSA warns the public to exercise extreme caution when dealing with this entity.”

 

The MFSA also takes the opportunity to remind investors and consumers of financial services not to enter into any financial services transaction unless they have ascertained that the entity with whom the transaction is being made holds a licence to provide such services from the MFSA or another reputable financial services regulator and points out that all the entities which are currently licensed by the Malta Financial Services Authority can be found on the MFSA website at www.mfsa.com.mt

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George Milios

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.

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Published: Thursday 29 October, 2015