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Can I trade TRY/JPY here??
GregorSt
Japan
2023-07-05
ANSWER Fortexs is an unlicensed broker that we advise against trading with, despite the seemingly attractive deals it offers.Fortexs claims to be regulated by three financial watchdogs:1) the Cyprus Securities and Exchange Commission (CySEC) with license number 261/16;2) the Belize Financial Services Commission (Belize FSC) with number 17/34/62/22;3) the Financial Services Commission of Mauritius (Mauritius FSC) with number 835173752. We searched the registers of the aforementioned authorities but didn't find any corresponding records. This means Fortexs is falsely claiming to be a regulated broker. As for the DMCA (full name: Digital Millennium Copyright Act) code Fortexs displays on its homepage, it is irrelevant to financial activities and cannot support Fortexs' legitimacy in the financial sector.Additionally, the Financial Conduct Authority (FCA) has issued a warning against Fortexs, believing this broker might be providing financial services or products without proper authorization.Regarding your question, we suggest you avoid dealing with Fortexs because it is not only an unlicensed broker but also has a warning from the FCA. It is a fraudulent trading platform with significant risks including financial losses and identity theft. Once your personal information and money are held by the broker, there are no rules in place to safeguard them. Therefore, investors are encouraged to stay away from unlicensed brokers like Fortexs and instead choose a fully regulated one to mitigate such risks.
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