The FinancialThe Malta Financial Services Authority (MFSA) has issued a notice warning investors and traders of an unlicensed entity Betal Trade FX. The regulator indicated that the company purports to have a “category 3 licence by the Malta Financial Services Authority in terms of which it is authorised to provide investment services from Malta”. In reality no such license exists for the firm.
The regulator stated “that Betal Trade FX is NOT a Maltese registered Company NOR licensed or otherwise authorised by the MFSA to provide any financial services which are required to be licensed or otherwise authorised under Maltese law. The public should therefore refrain from undertaking any business or transactions with the above-mentioned entity.”
Traders are reminded that they can check the regulatory or licensing status of their Maltese broker by using MFSA’s financial services register or for a global search, Financial Commission’s list of regional regulatory bodies around the world.