MFSA Warning - tier1fx - Clone
JANUARY 06, 2022

The Malta Financial Services Authority (“MFSA” or “the Authority”) has become aware of an entity operating under the name of tier1fx which has an internet presence at https://www.tierl-fx.com/index.php. This website is making unauthorised use of details belonging to Tier1FX, which is the Forex brokerage division of an MFSA licensed company, Hogg Capital Investments Limited (C 18954). Fraudsters are using the details of this genuine company in an attempt to deceive the public.

The MFSA wishes to alert the public, in Malta and abroad, that https://www.tierl-fx.com/index.php is NOT a Maltese registered Company NOR licensed or otherwise authorised by the MFSA to provide any financial services which are required to be licensed or otherwise authorised under Maltese law. Additionally, the Authority confirms that https://www.tierl-fx.com/index.php has NO association with the Maltese registered company Hogg Capital Investments Limited (C 18954) and its Forex brokerage division Tier1FX.

The website  https://www.tierl-fx.com/index.php therefore appears to be a clone of the legitimate entity and the public should therefore refrain from undertaking any business or transaction with the false entity.

Maltese Registered Entity Clone
Hogg Capital Investments Ltd – Tier1FX tier1fx
https://www.tier1fx.com/t1-brokerage https://www.tierl-fx.com/index.php
C 18954 N/A
Nu Bis Centre, Mosta Road, Lija LJA9012,
Malta
Nu Bis Centre, Mosta Road, Lija LJA9012,
Malta; and
5 Sophia Rd, Singapore 228191
Licensed by the MFSA as a Category 2
Investment Firm
Not registered in Malta.
Not licensed to provide financial services.

Furthermore, information available to the MFSA suggests that https://www.tierl-fx.com/index.php is likely to be a scheme of dubious nature with a high risk of loss of money. The public should therefore refrain from undertaking any business or transactions with the above-mentioned entity.

The MFSA would like to remind consumers of financial services not to enter into any financial services transaction unless they have ascertained that the entity with whom the transaction is authorised to provide such services by the MFSA or another reputable financial services regulator. Investors are advised to be extra cautious when being approached with offers of financial services via unconventional channels such as telephone calls or social media.

A list of entities licensed by the MFSA can be viewed on the official website of the MFSA at https://www.mfsa.mt/financial-services-register/.

For more information on clone companies please refer to the Scam Detection Guidelines issued by the MFSA at https://www.mfsa.mt/consumers/scams-warnings/typical-scams/ .If you are a victim of a scam or think you might be dealing with an unauthorised entity or any other type of financial scam, first of all stop all transactions with the company and contact the MFSA at https://www.mfsa.mt/about-us/contact/  as soon as a suspicion arises.