The group is licensed by ASIC Australia, FCA UK and vfsc Vanuatu.
vfsc: Vanuatu Financial Services Commission
Vanuatu: Jurisdictio under the Republic of Vanuatu
Vanuatu gained its independent status since 1980 and is an archipelago of approximately 83 islands situated in the South-western Pacific Ocean.
The Vanuatu jurisdiction gained its popularity among the investors and business owners in the Forex industry looking to become a regulated broker, yet obtain its status through a simplified process and operate almost without supervision.
The opening requires the company to submit a register online, prove initial establish capital which is $2,000 only, to pay a fee, and within a 2-3 month, the firm is crisp and registered. The VFSC regulator does not require strict proof of the company background, nor check on the implementation of the secure fund management or operation guidelines, does not require regular reporting and further on never impose fines in case of the fraud operation.
Very exotic and fun-filled place for holidays but, as a financial regulatory body, not good.