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Operating status: SCAM
Website: http://www.fivoro.com/; https://fivoro.capital/; https://fivoro.pro/; https://platform.fivoro-trading.com/; https://fivoro.io/
The British Columbia Securities Commission (BCSC) issued a warning against Fivoro on Mar 23, 2023, saying this broker is not registered to trade in, or advise on, securities or derivatives in BC: https://www.bcsc.bc.ca/enforcement/early-intervention/investment-caution-list/2023/fivoro
Fivoro claims to be operated by Urvashi Limited registered with the Financial Services Authority of Saint Vincent and the Grenadines (SVG FSA). However, it should be noted that the SVG FSA is an autonomous statutory body without legal authority to issue forex licenses and regulate forex markets. Fivoro also claims to be a member of Crypto Commission Authority. We searched this authority on website but found no matching results. That means, the regulatory information Fivoro claims is a false statement to unsuspecting investors. More importantly, the British Columbia Securities Commission (BCSC) issued a warning against Fivoro, saying this broker is not registered to trade in, or advise on, securities or derivatives in BC.
The truth is, Fivoro is not under valid regulation by any regulators to provide investment services. Investors' funds in this company are unsafe and cannot be protected by any law. It is a scam.
On May 6, 2023, the Financial Conduct Authority (FCA) issued a warning against Fivoro, believing this broker might be providing financial services or products in the UK without authorization: https://www.fca.org.uk/news/warnings/fivoro
As the old website http://www.fivoro.com/ became unavailable, we found that Fivoro is using https://platform.fivoro-trading.com/ and https://fivoro.pro/ to solicit potential investors. Please exercise caution and avoid being duped.
On June 5, 2023, the Belgian Financial Services and Markets Authority (FSMA) added Fivoro to its warning list as a fraudulent trading platform: https://www.fsma.be/en/warnings/beware-these-new-fraudulent-trading-platforms-0
Since Fivoro is still in business to steal money from unsuspecting investors, FCA updates its warning against the platform with more details about the unauthorized firm and cautions the public to stay away from it once again.
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