MFSA issues warning about KONTOFX trading platform
KONTOFX, which claims to be a forex trading broker, is unlicensed and unauthorised by the MFSA, the financial services watchdog has warned
by Massimo Costa
The Malta Financial Services Authority has issued a warning to alert the public that KONTOFX, a claimed forex trading broker, is unlicensed and unauthorised.
In a statement on Thursday, the MFSA said that it has become aware of an entity operating under the name of KONTOFX.
The above mentioned entity has an internet presence at https://www.kontofx.com and claims to be a forex trading broker providing a Web Trader platform. The entity purports to be operating from Northside Business Centres, 2nd and 4thfloor, BC91 Office building, Budapest 1139, Hungary.
The MFSA said it was alerting the public in Malta and abroad that KONTOFX is not licenced nor authorised by the Authority to provide any investment or other financial services which are required to be licenced or otherwise authorised under Maltese law.
Furthermore, information available to the MFSA suggests that https://www.kontofx.com is likely to be a scheme of dubious nature with a high risk of losing money.
The MFSA strongly advices investors and consumers of financial services that prior to making any investment or entering into any financial services transaction, they should ascertain that the entity with whom the investment or transaction is being made is authorised to provide such services by the MFSA or other financial services regulatory authorities as applicable.
A list of entities authorised by the MFSA is available from the MFSA and can be viewed on the official website of the MFSA at https://www.mfsa.com.mt/financial-services-register/.
