FSC suspended 6 Forex firms

George2010

Recruit
Messages
2
We were informed that on 27 May 2010 Mauritius FSC has suspended global business license to 6 Forex firms, and the firms are:

1. BASEL FINANCIAL INC.
2. AEcnFX (Mauritius) Ltd.
3. FXCOMPANY FINANCIAL GROUP LTD
4. FXMarkets Ltd
5. FXOpen Investments Inc.
6. WORLD DERIVATIVES TRADERS LTD
 

Pharaoh

Colonel
Messages
19,783
I'm not surprised by a couple of names on that list. On the other hand, I am surprised to see FxOpen on it. I thought they were very proud of their FSC license.

At least this proves that the FSC is willing to suspend licenses. That puts them above some "regulators" that are only in business to collect licensing fees.
 

Ahmed.Mosry

Private
Messages
18
shocking

We were informed that on 27 May 2010 Mauritius FSC has suspended global business license to 6 Forex firms, and the firms are:

1. BASEL FINANCIAL INC.
2. AEcnFX (Mauritius) Ltd.
3. FXCOMPANY FINANCIAL GROUP LTD
4. FXMarkets Ltd
5. FXOpen Investments Inc.
6. WORLD DERIVATIVES TRADERS LTD

At last we can start to believe that the world regulators have started to prove that no matter how high or how strong is a broker it can also be shown an exist door.!!!! Well done Mauritius for this information:D
 

clem699

Sergeant
Messages
147
Surprises do occur.Fxopen that claim to be well reputed and even boasts of its ECN based platform,i hope there is a mistake somewhere.
 

AsstModerator

FPA Forums and Reviews Admin
Messages
5,575
Since we don't have any details of why there are suspensions, this doesn't qualify as for this section of the forums. I still do want to keep this information available to forum members. I hope some of the brokers involved will make a statement in this thread.

I'm moving this over to General Forex Talk. If the FSC gives details that are more than just technical or paperwork issues, someone please remind me to move it back.
 

fxfrench

FXOpen AU Representative
Messages
392
As far as FXOpen is concerned, this only concerns Mauritius's Jurisdiction and doesn't affect our operation elsewhere in the world at all.
 

clem699

Sergeant
Messages
147
As far as FXOpen is concerned, this only concerns Mauritius's Jurisdiction and doesn't affect our operation elsewhere in the world at all.
Would you please explain why your Mauritius branch was suspended and what is the faith of your customers in that area?
 

fxfrench

FXOpen AU Representative
Messages
392
Would you please explain why your Mauritius branch was suspended and what is the faith of your customers in that area?
If you know why, we would like to know. The Mauritius FSC has not yet given a reason apart from the extremely vague "to protect the reputation of Mauritius" statement they have already made. Your guess is as good as ours.
 
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