San4x Posted May 28, 2010 Report Share Posted May 28, 2010 FXOpen and Basel Financial banned by the Mauritius Financial Service Direct link: http://www.fxstreet.com/news/forex-news/article.aspx?storyid=40fb17f6-1361-4a67-b866-2aa765db2293 Fri, May 28 2010, 09:30 GMT http://www.fxstreet.com FXstreet.com (Barcelona) - The Mauritius Financial Services Commission (The Commission) has decided to revoke the license of FXOpen and Basel Financial Firms. In a 27th May statement, the Commission stated that these two companies, among others four, are hurting the financial reputation in Mauritius. "The Commission having reasonable grounds to believe that the revocation of the Global Business Licenses issued to the undermentioned companies is necessary to protect the good repute of Mauritius as a centre for financial services and to protect investors," says the statement. In addition to FXOpen and Basel Financial Firms, the Global Business Licenses of the following companies are being suspended forthwith: AEcnFX (Mauritius) Ltd, FXCOMPANY FINANCIAL GROUP LTD, FXMarkets Ltd, WORLD DERIVATIVES TRADERS LTD. The Commission's Chief Executive has ordered an investigation on the back that the Commission has reason "to believe that the above companies are carrying or are likely to carry out activities that may cause serious prejudice to the reputation of Mauritius." "It is very good news that even body regulators from safe haven countries known for their regulatory laxity," comments Francesc Riverola, FXstreet.com's CEO, "put themselves to work and clean the Forex landscape from not welcome firms." hermanhess and cubicrey 2 Quote Thanks for the kudos...much appreciated! Link to comment Share on other sites More sharing options...
winnerxp Posted May 31, 2010 Report Share Posted May 31, 2010 Thanks for the info, reminded me why i got wiped out the 1st day of trading in fxopen. execution 4 sec and up. and always a lost if trade short time/profit. Quote Link to comment Share on other sites More sharing options...
Guest Forex4me Posted June 15, 2010 Report Share Posted June 15, 2010 Maybe they didn't pay the bill for the liscense:) Quote Link to comment Share on other sites More sharing options...
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