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FinMarketHub
On January 31, 2024, the Federal Financial Supervisory Authority (BaFin) warns consumers about the services offered on the website finmarkethub.co, saying the operator is providing financial and investment services on this website without the required authorisation. https://www.bafin.de/SharedDocs/Veroeffentlichungen/EN/Verbrauchermitteilung/unerlaubte/2024/meldung_2024_01_24_finmarkethub_en.html
On January 31, 2024, the Federal Financial Supervisory Authority (BaFin) warns consumers about the services offered on the website finmarkethub.co, saying the operator is providing financial and investment services on this website without the required authorisation. https://www.bafin.de/SharedDocs/Veroeffentlichungen/EN/Verbrauchermitteilung/unerlaubte/2024/meldung_2024_01_24_finmarkethub_en.htmlFinMarketHub purports to hold a license from the Mauritius Financial Services Commission (Mauritius FSC). However, this claim lacks credibility as there are no corresponding records in the Mauritius FSC register. Furthermore, it ambiguously states that it possesses an EU license, but fails to specify the exact financial regulator under which it falls.
Upon examining its website, it becomes apparent that the broker alleges to be based in Belgium. This is a country that has unequivocally outlawed all leverage OTC derivatives, all binary options, and the sales methods by which they are distributed, due to their high-risk nature. Consequently, any brokers operating in this country are indisputably illegal.
Adding to the concerns, the Federal Financial Supervisory Authority (BaFin) has issued a warning to consumers regarding the services offered on the website finmarkethub.co. It states that the operator is offering financial and investment services on this website without the necessary authorisation.
In summary, FinMarketHub is not regulated by any authoritative body. Entrusting it with investors' funds poses a significant risk, as there are no legal protections in place to safeguard these funds. Therefore, it appears that FinMarketHub may be a scam.
FinMarketHub purports to hold a license from the Mauritius Financial Services Commission (Mauritius FSC). However, this claim lacks credibility as there are no corresponding records in the Mauritius FSC register. Furthermore, it ambiguously states that it possesses an EU license, but fails to specify the exact financial regulator under which it falls.Upon examining its website, it becomes apparent that the broker alleges to be based in Belgium. This is a country that has unequivocally outlawed all leverage OTC derivatives, all binary options, and the sales methods by which they are distributed, due to their high-risk nature. Consequently, any brokers operating in this country are indisputably illegal.Adding to the concerns, the Federal Financial Supervisory Authority (BaFin) has issued a warning to consumers regarding the services offered on the website finmarkethub.co. It states that the operator is offering financial and investment services on this website without the necessary authorisation.In summary, FinMarketHub is not regulated by any authoritative body. Entrusting it with investors' funds poses a significant risk, as there are no legal protections in place to safeguard these funds. Therefore, it appears that FinMarketHub may be a scam.
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