The KNF warns against 3 Forex platforms

On February 10, 2023 Polish Financial Supervision Authority informed about adding another 3 Forex platforms, considered to be scams, to the list of public warnings. These are: Ultimate Financial Solution, Invest Kingdom andEffevervescent Group LTD. None of these entities has a license authorizing it to conduct this type of activity, therefore, a notification was made to the prosecutor's office about the commission of the crime. Details below.

Watch out for more FX & crypto scams!

The reason for placing on the list of warnings, one would like to say, "is what always", i.e. the lack of required licenses and permits to conduct brokerage activities in Poland (and the European Union). This is another message about "new" scams in Poland this year. The websites of all three have already been successfully blocked (or removed), but it is worth remembering these names - scammers often return with slightly modified brands after a short time.

The companies use the following websites:

• Ultimate Financial Solution – operating through the website ultimatefinancialsolution.com
• Invest Kingdom – operating via the websites https://investkingdom.com and https://investkingdom.net
• Effevervescent Group LTD based in Saint Vincent and the Grenadines - operating through the investment platform https://iconiccapital.world

Be vigilant - scammers often return with only slightly modified names or websites.

We warn against using the services of unlicensed companies. Before opening an account, always make sure it is correct the broker has the appropriate regulations and permits at the indicated financial market supervisory institution.