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Financial Magnum
Operating status: SCAM
Website: https://fin-magnum.com/; https://account.fin-magnum.com/; https://traderweb-pro.com/
On May 15, 2024, the Financial Conduct Authority (FCA) issued a warning against Financial Magnum, identifying this company as a clone of an FCA-authorized firm. https://www.fca.org.uk/news/warnings/financial-magnum-fin-magnumcom-clone-fca-authorised-appointed-representative
On May 15, 2024, the Financial Conduct Authority (FCA) issued a warning against Financial Magnum, identifying this company as a clone of an FCA-authorized firm. https://www.fca.org.uk/news/warnings/financial-magnum-fin-magnumcom-clone-fca-authorised-appointed-representativeAccording to its website, it claims to be regulated by the Cyprus Securities and Exchange Commission (CySEC) and the European Securities and Markets Authority (ESMA). Upon investigation, we found that the URL registered with the regulatory agency is inconsistent with Financial Magnum. The regulatory information of the joint dealer has been misappropriated. Moreover, the regulatory status marked by CySEC and ESMA is "inactive", which further proves that the regulation is ineffective. In addition, it claims to be registered with the Financial Transactions and Reports Analysis Center of Canada (FINTRAC), but FINTRAC is not a regulatory agency and does not have the right to supervise foreign exchange.
Furthermore, the Financial Conduct Authority (FCA) issued a warning against Financial Magnum, identifying this company as a clone of an FCA-authorized firm.
In conclusion, Financial Magnum is definitively a scam. Investors are strongly advised to steer clear of it.
According to its website, it claims to be regulated by the Cyprus Securities and Exchange Commission (CySEC) and the European Securities and Markets Authority (ESMA). Upon investigation, we found that the URL registered with the regulatory agency is inconsistent with Financial Magnum. The regulatory information of the joint dealer has been misappropriated. Moreover, the regulatory status marked by CySEC and ESMA is "inactive", which further proves that the regulation is ineffective. In addition, it claims to be registered with the Financial Transactions and Reports Analysis Center of Canada (FINTRAC), but FINTRAC is not a regulatory agency and does not have the right to supervise foreign exchange.Furthermore, the Financial Conduct Authority (FCA) issued a warning against Financial Magnum, identifying this company as a clone of an FCA-authorized firm.In conclusion, Financial Magnum is definitively a scam. Investors are strongly advised to steer clear of it.
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