The Malta Financial Services Authority (“MFSA”) refers to the Notice to the General Public published on 03.04.14 (reference 05-2014) regarding online foreign exchange (forex or FX) brokers offering their services or otherwise seeking to attract business without being duly licensed or authorised or otherwise registered with the MFSA. The MFSA has become aware of three such entities listed hereunder:
i. Forex Broker Inc. or Noble Services Limited which is known to have an internet presence at http://www.forexbrokerinc.com/;
ii. Velarda Forex, Velarda Markets or Velarda which is known to have an internet presence at http://velarda.com/; and
iii. NDD Broker which is known to have an internet presence at http://www.nddbroker.com/.
The MFSA wishes to alert the public, in Malta and abroad, that the above mentioned entities are NOT companies registered in Malta NOR are they entities licensed or authorised by or otherwise registered with the MFSA to provide any type of financial service including foreign exchange (forex or fx) services.
The MFSA would like to remind consumers of financial services not to enter into any financial services transaction unless they have ascertained that the individual or entity with whom the transaction is being made is: (i) licensed or authorised by or otherwise registered
with the MFSA; or (ii) licensed or authorised by or otherwise registered with another reputable financial services regulator to provide financial services.
A list of entities licensed by the MFSA is available from the Malta Financial Services Authority, and can be viewed on the MFSA website at www.mfsa.mt.