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Xiang Rong Limited

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Operating status: SCAM

Website: http://www.swingswan.info/index.html; http://www.rongxiang-fx.com/

Broker violations and abnormal records
  • 2023-04-20 BrokersView has reviewed that Xiang Rong Limited is an unregulated broker

    Xiang Rong Limited claims to have the MSB license M20766629 issued by the Financial Transactions and Reports Analysis Centre of Canada (FINTRAC). Although we did find this license in the registry of FINTRAC, the company under this number is named Leobor Forex Global Limited with a different domain. Furthermore, that domain is unavailable. This is a red flag. What's more, FINTRAC is Canada's financial intelligence unit whose mandate is to facilitate the detection, prevention and deterrence of money laundering and the financing of terrorist activities, while ensuring the protection of personal information under its control. It doesn't have the authority to regulate forex activities. Therefore, having an MSB license doesn't mean being authorized to offer services or products in forex trading.

    In essence, Xiang Rong Limited is not regulated by any governing body. Entrusting this broker with investors' funds is highly risky, as there are no legal protections in place to safeguard the funds. It is unequivocally a scam.

    Xiang Rong Limited claims to have the MSB license M20766629 issued by the Financial Transactions and Reports Analysis Centre of Canada (FINTRAC). Although we did find this license in the registry of FINTRAC, the company under this number is named Leobor Forex Global Limited with a different domain. Furthermore, that domain is unavailable. This is a red flag. What's more, FINTRAC is Canada's financial intelligence unit whose mandate is to facilitate the detection, prevention and deterrence of money laundering and the financing of terrorist activities, while ensuring the protection of personal information under its control. It doesn't have the authority to regulate forex activities. Therefore, having an MSB license doesn't mean being authorized to offer services or products in forex trading.In essence, Xiang Rong Limited is not regulated by any governing body. Entrusting this broker with investors' funds is highly risky, as there are no legal protections in place to safeguard the funds. It is unequivocally a scam.

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