Luxembourg's CSSF Issues Warning Against Another Unlicensed Forex Investment Outfit: Millionet Investment Management Limited

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Commission de Surveillance du Secteur Financier (CSSF), the Luxembourg agency tasked with overseeing the activities of financial entities in the country, has issued a warning against Millionet Investment Management Limited.

Millionet’s website (millionetasia.com) claims the company is headquartered in Luxembourg, with offices in Asia, Europe, Africa and the Middle East, however, CSSF has said that Millionet has no license to offer any kind of investment products to residents of Luxembourg:
“The CSSF informs the public that the entity Millionet Investment Management Limited is unknown to it and that the entity has not been granted the authorisation required to provide investment, fund management or other financial services in or from Luxembourg.“
The Investor Benefits page claims that clients can benefit by having their accounts managed by experienced fund managers, “No Paper work involved and easy formalities,” claims Millionet.

This unlicensed outfit also claims to manage Forex, Gold, Silver, Stock Index Futures and CFD portfolios for clients.

Last week, the CSSF also issued a warning against Zidex Financials, another unlicensed Forex broker that claims to be based in Luxembourg.

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