Prime4x - official warning

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mayzus

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The Cyprus Securities and Exchange Commission (‘the Commission’) wishes to inform the investors that the company Prime Forex LLC. (www.prime4x.com) is not permitted to provide investment and ancillary services in the Republic, pursuant to Investment Services and Activities and Regulated Markets Law, as:

1. It has never been authorized by the Commission.
2. Ιt is not a bank or a cooperative firm, established in the Republic and authorised to provide such services.
3. No notification has been received by a competent authority of another Member State, pursuant to sections 77 and 80 of the abovementioned Law.

Finally, the Commission urges investors, before conducting business with Investment Firms, to consult its Web Site (http://www.cysec.gov.cy/default_en.aspx) to confirm the entities that are authorised to provide investment services in the Republic.

Nicosia, 17 December 2009

Source: http://www.cysec.gov.cy/Downloads/I...ouncement (Warning) 12.17.2009 re Prime4x.pdf
 
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fising

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wowowo...This is a heavy accusation from the President of a Forex broker's company.... to another Forex Broker which has many clients in Carigold. Thus, if this is the truth, everybody have to take note on his warned and aware to this broker.

From what that i've understood, IKOFX also is not regulated to CYsec yet. All IKOFX's traders have to beware regarding this matters, even i'm one of the trader who currently using IKOFX among other broker that i've used now. .

panas bontotlaa promoter2 forex broker yg tk regulated ataupun forex broker yg cuma ada offshore company registration je tanpa ada regulation dari financial bodies yg jalankan bisnes forex kt CG ni.. si Mayzus ni dah rasa tercabar la ni.. sebab dia ada mention dia kuar modal juta2 bukak company dia tu..huhuhu
 

S.Y.E.D

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kalau btol2 iyer korang kena bjaga2 la.. even aku dgr kata iko ni termasuk dlm list nih pon berjaga2 gak.. nanti nak tanye kt iko live sapoter sal nih..wat going on.. adesss
 

cry2nite

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so,tunggu apa lagi..

choose instaforex la..
:))
 

iamloco

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nak betul2 selamat, join regulated broker dari US la.
 

sureheboh.com

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This unofficial English text is for information purposes only and is not legally binding.
 

warheadfx

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hi mayzus,

Thanks for the info. Appreciate if you can reveal other brokers that have been prohibited to trade forex for non-compliance without fears. This can be a message for other traders and brokers as well... Currently there are lots of brokers appears as like mushroom after the rainings. We want to see forex traders do transaction with legal entities and keep the forex business in harmony...

Cheers..
Warheadfx
 

Azuan IntelFX

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CySEC start to investigate all broker that register company or have office or have bank account in Cyprus. That company must shut down operation or leave Cyprus if they don't make a regulation with CySEC.

CySEC doing this because all unregulated broker start to collect fund from customer in illegal ways. So to protect clients and investment, CySEC start to doing his job to stop all unregulated company making a Forex business.

Regulated broker spend more than 2.5 million euro and many more things to submit and get approval, but unregulated broker just spend few bucks to start their business. In this case, CySEC will use all power that they have to stop all unregulated broker as soon as possible.

Think twice before you make deposit to unregulated broker. Your fund maybe will safe if you deposit in small amount and make small profit, but how about if you make huge deposit and make huge profit too? i guarantee you will having problem that you hope and pray that will not happen to you. They can start making a lot of excuses to not pay you and your profit. They can do that, because why? because nobody control this company, nobody can take action on your problem.

So hear, maybe 3 years ago, we all still blind and don't understand what mean regulated and unregulated. We don't care that company regulated or not, as long as they can pay our profit. But think again, you will be a victim 1 day when broker see you make a lot of profit in your trading. Trust me, i know everything that maybe you all don't know.

We all 1 MALAYSIA..RAKYAT DIDAHULUKAN - PENCAPAIAN DIUTAMAKAN
 

KarimDaud

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Abes prime4x kena pindah la n regulated kt tempat lain kalau mereka nak. Jgn gulung tikar udah naye
 
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