Luxembourg Financial Regulator Issues Warning Against FX Broker Zidex Financials

Luxembourg's financial regulator, Commission de Surveillance du Secteur Financier (CSSF), has issued a warning today against Zidex Financials, a Forex broker that claims to be regulated by the CSSF.

Today’s CSSF announcement clearly indicates that is not the case:
“The CSSF informs the public that the entity Zidex Financials is not supervised by the CSSF and has not been granted the authorization required to provide banking and/or financial services in or from Luxembourg.“
The firm’s website says claims that it’s headquartered in Luxembourg (5th floor 58 boulevard royal 2887 Luxembourg city, Luxembourg), however, the company’s contact page lists an address in Lincoln, Nebraska, USA.

Financial regulators in Europe are scrambling to issue warnings as unlicensed and fraudulent FX, Binary Options & CFD brokers are springing up like mushrooms across the region.

Last week, the AMF in France issued warnings on three unlicensed Forex brokerages. While financial authorities in the Netherlands, along with Dutch Minister of Finance, Jeroen Dijsselbloem, are seeking an outright ban on the advertising of risky financial instruments to the general public.

About Author: author Steve Todorov is the founder of Razor-Forex.com, an ardent digital currency enthusiast and Forex trader. Read More...

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