This week, the Austrian Financial Market Authority (FMA) has yet again updated its warning list, flagging two entities which are operating in the foreign exchange (forex) space that it deems as suspicious.
The two entities are OMC Markets (Personal Found Ltd), which the regulator published a warning about on Tuesday and Zuitex, which is blacklisted this Wednesday.
On both of the warnings, the regulator stated that they are: “not entitled to carry out banking transactions in Austria that require a licence. The provider is therefore neither permitted to trade on a commercial basis (Article 1 para. 1 no. 7 BWG).”
OMC Markets, which operates via the website www.omcmarkets.com, is based in Sofia Bulgaria. The entity claims to offer a range of trading, primarily forex, but also stocks, commodities and indices.
Similarly, Zuitex (www.zuitex.com) also offers forex trading, along with cryptocurrencies, shares and raw materials. The company claims to be based in St. Gallen, Switzerland.
On its website, the entity states: “Swiss finance traditions meets the modern Fintec…born from the idea in 2016 to make professionell trading services available for private customers Zuitex was founded in 2018.”
Another day, another scam
Earlier today, New Zealand’s FMA added a new entity to its blacklist this Wednesday – JJ Lloyd. As , JJ Lloyd, which operates via www.jjlloyd.com could be involved in a scam, the regulator said.
Furthermore, the regulator states that the entity is not registered on the New Zealand Financial Service Providers Register. The FMA is not the first regulator to flag JJ Lloyd. In fact, the regulator refers to two previous warnings, one published by the (SFC) in Hong Kong and one by .