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ABUSA

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Operating status: SCAM

Website: https://www.glfxmcapital.com/

Broker violations and abnormal records
  • 2024-05-08 The SFC adds ABUSA to its warning list

    On May 9, 2024, the Securities And Futures Commission(SFC) issued a warning against ABUSA, believing this company might be providing financial services or products without proper authorization in the HK. https://www.sfc.hk/en/alert-list/3033

    On May 9, 2024, the Securities And Futures Commission(SFC) issued a warning against ABUSA, believing this company might be providing financial services or products without proper authorization in the HK. https://www.sfc.hk/en/alert-list/3033
  • 2024-05-13 BrokersView has reviewed that ABUSA is an unregulated broker

    According to its website, it is located in the London. Upon investigation, no matching information was found in the Financial Conduct Authority (FCA). Moreover, it cliams regulated by Financial Crimes Enforcement Network (FinCEN), we found the matching information in the FinCEN. However, mere registration with the FinCEN doesn't mean being authorized to provide financial services or products in the USA legally. More importantly, we searched for NFA and did not find any matching information.

    Furthermore, the Securities And Futures Commission(SFC) issued a warning against ABUSA, believing this company might be providing financial services or products without proper authorization in the HK.

    In essence, ABUSA is not regulated by any governing body. Entrusting it with investors' funds is highly risky, as there are no legal protections in place to safeguard the funds.

    ABUSA appears to be a scam.

    According to its website, it is located in the London. Upon investigation, no matching information was found in the Financial Conduct Authority (FCA). Moreover, it cliams regulated by Financial Crimes Enforcement Network (FinCEN), we found the matching information in the FinCEN. However, mere registration with the FinCEN doesn't mean being authorized to provide financial services or products in the USA legally. More importantly, we searched for NFA and did not find any matching information.Furthermore, the Securities And Futures Commission(SFC) issued a warning against ABUSA, believing this company might be providing financial services or products without proper authorization in the HK.In essence, ABUSA is not regulated by any governing body. Entrusting it with investors' funds is highly risky, as there are no legal protections in place to safeguard the funds.ABUSA appears to be a scam.

Related Complaints

Q&A

Does ABUSA allow scalping?

Anton Busque
Singapore
2024-06-26
ANSWER It is strongly advised against trading with ABUSA, an unlicensed broker posing substantial risks.The broker claims to be located in London, yet no corresponding records were found in the Financial Conduct Authority (FCA) database. Although ABUSA appears to have registration with the Financial Crimes Enforcement Network (FinCEN), such registration alone does not authorize the provision of financial services or products within the USA legally. To demonstrate its legitimacy, it is required to be a member of the National Futures Association (NFA). But no corresponding records exist in the NFA register.Compounding these concerns, the Securities And Futures Commission (SFC) of Hong Kong has issued a warning against ABUSA, indicating that the company may be offering financial services or products without proper authorization.Based on the evidence, it is prudent to exercise caution, as ABUSA exhibits characteristics commonly associated with fraudulent operations. Investors are strongly advised to opt for fully regulated brokers instead of unregulated ones like ABUSA.
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Do you recommend ABUSA?

Harit Abu krayem
South Africa
2024-05-14
ANSWER No, we strongly suggest you avoid using ABUSA.ABUSA alleges to have the MSB registration number 31000236051743 issued by the Financial Crimes Enforcement Network (FINCEN). However, the MSB number is associated with a company named GLFXM GLOBAL FOREX LIMITED, not the purported ABUSA GROUP LIMITED. What's more, it's important to note that the inclusion of a business on the MSB Registration Web site is not a recommendation, certification of legitimacy, or endorsement of that business by any government agency.Despite claiming to be located in the UK, there are no indications that ABUSA is registered with the Financial Conduct Authority (FCA). What's more, the Hong Kong Securities and Futures Commission (HK SFC) has added the website address associated with ABUSA, glfxmcapital.com, to its warning list as one of the unlicensed entities.Therefore, ABUSA is operating in an unregulated environment, presenting substantial risks to investors. To avoid becoming victims of potential fraud schemes, it is highly recommended staying away from unlicensed brokers like ABUSA and instead choosing fully regulated ones.
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