HandelFX Blacklisted by Swiss Authority
The Swiss Financial Market Supervisory Authority listed a new blacklisted firm for clientele trading in the Forex and Blockchain markets. HandelFX Limited has been blacklisted for not being commercially registered with any notable regulators. Swiss Authorities have provided no further details other than the corporation’s name and website address. Since their announcement, it’s estimated that activity at HandelFX has dropped by more than 77%.
Switzerland’s Financial Blacklist displays on their homepage that any brokerage, exchange or firm found without an authorizing authority will be removed from active service. Their list is extensive, showing the unauthorized services from Forex Trading and Blockchain Networks. Before sites can be blacklisted, an investigation unit thoroughly exams the mentioned company.
After examinations have proved there’s a threat for investors, the Swiss Financial Market Supervisory Authority will blacklist the site. Investigations usually take two to four weeks, with results publicly listed for global traders.
FINMA officially states on its website: “The fact that a company is on FINMA’s warning list does not automatically mean that its activities are unlawful. Their entry in the list does, however, highlight the lack of consent. The companies and individuals in question will be removed from the list once FINMA has completed its investigations and taken any appropriate measures.”
The HandelFX Brand is operated by an unknown corporation, which claims to have numerous years of experience in the Financial Trading Markets. However, research indicates that these claims are false. Their mission to clients is providing an opportunity to trade with multiple assets.
Those assets included crypto currency, futures, forex trading, commodities, indices, algorithmic trading and standard stocks. Those services will be terminated if FINMA sends a cease and desist order.
The websites public statement on the homepage reads: “HandelFX is a top online Forex broker with many years of experience in the market. HandelFX being a client oriented company, places the needs of every one of our customers as its priority. We are committed to providing all our investors with a wide range of options when trading to help them become better at trading and also make profits.”