The Australian financial watchdog has alerted local traders of Trade12, after it offered financial services unauthorized.
The Australian Securities and Investments Commission (ASIC) has issued a warning on its website regarding Trade12. ASIC stated that the company has been running its operation without the required Australian Credit license or an Australian Financial Services (AFS) license.
The London Summit 2017 is coming, get involved!
Trade12 is said to have sent out emails regarding online trading and making unsolicited phone calls to clients in Australia regarding credit and loans, and giving financial advice without being authorized to do so. ASIC has alerted Australian citizens due to concern that the company might be a scam operation in the guise of a financial services firm. The Australian authority strongly advises against accepting Trade12’s offers or services.
Trade12 is an MT4 brokerage trading forex and futures, which claims to be owned and run by UK based Global Fin Services Limited. The address of the former’s office is Tornimäe 5, Tallinn 10145, Estonia.
The brokerage was previously mentioned in warnings by New Zealand’s FMA and Russian watchdog KROUFR. It is known for its use of the image of Mike Tyson in its ads.
About OctaFX
OctaFX is a STP/ECN broker, established in 2011, based in St. Vincent and the Grenadines. It is regulated by For OctaFX.com we have only SVGFSA license no. 19776 IBC 2011. Trading conditions at OctaFX include a minimum deposit of 25, leverage up to 1:500, spreads from 0.6 Pips. Clients can trade on MetaTrader 4 (MT4), MetaTrader 5 (MT5), Mobile MT4, Web Platforms and More Trading Platforms, in the web browser and on mobile.
- Regulation: For OctaFX.com we have only SVGFSA license no. 19776 IBC 2011
- Minimum deposit: 25
- Max leverage: 1:500
- Platforms: MetaTrader 4 (MT4), MetaTrader 5 (MT5), Mobile MT4, Web Platforms and More Trading Platforms