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FX Global Asset Management - Belize entity on the KNF warning list

FX Global Asset Management - Belize entity on the KNF warning list

created Paweł MosionekAugust 16 2017

The cleaning up of the Polish Forex market is in full swing. The Polish Financial Supervision Authority announced that another entity was added to the list of public warnings. It is a Belize registered company under the name FX Global Asset Management Ltd.

35% of earned profits

Getting on the KNF's list of warnings is the result of a notification of a suspected crime under Art. 178 of the Act on Trading in Financial Instruments (conducting brokerage activities without the permission of the Polish Financial Supervision Authority). On the company's website it was possible to read (due to the fact that the website is no longer available at the moment) that its main activity was the provision of capital management services on the Forex market. Based on cooperation with regulated entities of good reputation, FX Global Asset Management built its trust, and the cooperation with investors consisted in providing access to investment accounts in which invested on behalf of clients.

Fx Global Asset Management charges a fee of 35% on profits earned on clients' accounts in each calendar month. In addition, 2% is also charged the initial fee calculated on the deposit paid.

FX Global Asset Management on the list of KNF warnings

Last week we informed you about entering another Forex entity on the KNF "blacklist" - it was MIB700 broker also registered on a small, exotic island (Vanuatu).

The full list is available on the KNF website pod tym linkiem.

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About the Author
Paweł Mosionek
An active trader on the Forex market since 2006. Editor of the Forex Nawigator portal and editor-in-chief and co-creator of the ForexClub.pl website. Speaker at the "Focus on Forex" conference at the Warsaw School of Economics, "NetVision" at the Gdańsk University of Technology and "Financial Intelligence" at the University of Gdańsk. Twice winner of "Junior Trader" - investment game for students organized by DM XTB. Addicted to travel, motorbikes and parachuting.