The Financial Services Commission has today issued a warning to the public regarding InlineTrader FX Capital Markets Limited, an unincorporated entity.
The FSC has received information that indicates that InlineTrader FX Capital Markets Limited may be carrying on investment business.
InlineTrader FX Capital Markets Limited has never been regulated by the FSC, or licensed under the Financial Services (Investment & Fiduciary Services) Act 1989 or the Financial Services (Markets in Financial Instruments) Act 2006.
InlineTrader FX Capital Markets Limited operates a website, in which claims that it is a registered company under the laws of Gibraltar.
It offers "Investments Services" and further claims that it "has its Capital Management held by its registered offshore corporation under the laws of Gibraltar, and ILTFX is a registered member of the Gibraltar Financial Services Commission of Gibraltar... The license allow us to receive, manage and invest third party funds." These statements are untrue.
Similar claims had also been included in two other sites operated by this entity.
It therefore urges the public to exercise appropriate caution in respect of this entity. People are also able to verify whether a firm is licensed, by checking the "Regulated Entities" section on our website at http://www.fsc.gi/fsclists/categorysearch.asp
Any persons who are already involved in any dealings with the above entity and have concerns, should contact the Manager of Fiduciary Services and Enforcement on +350 200 40283 or by e-mail to enforcement@fsc.gi.