IFSC reveals ATS Markets Global false license claims


30 March, AtoZForex, Lagos – Many different type of scams have been circulating lately, such as clone firms, outright fictitious companies and even forgery of license. On this note, the International Financial Services Commission of Belize (IFSC) has warned that the firm “ATS Markets Global Ltd” operates with a completely forged license displayed on the company’s website.

Claims of International business dealings

The firm claims on its website that “ATS Markets have Global Subsidiaries & Operations from the different parts of the world as a Rapidly Growing Broker, having the Global Registrations & Operations Conducted from the United Kingdom (UK), Belize – Central America, Vanuatu – Pacific Ocean, New Zealand, Afghanistan, India. Registered in Belize - Central America under Company Number 152,302. ATS Markets is Headquartered at Suite 102, Blake Building, Corner Eyre & Hutson Streets, Belize City, Belize - Central America. ” However, the UK number provided on the website has been unreachable.

It shows that the company number 152,302 is a fabrication. As the IFSC reveals the ATS Markets Global false license claims, the regulator released a warning statement, which goes thus:

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“It has come to the notice of the International Financial Services Commission of Belize (IFSC) that an entity calling itself “ATS Markets Global Ltd.” is purporting to be an international business company registered in Belize. The Certificate of Incorporation posted on its website, http://ats-markets.com/ is a complete forgery.

This entity is not licensed by the International Financial Services Commission or any other competent authority in Belize to conduct any type of trading business.”

See also: Breaking: ACFX Chinese withdrawals delays, another IronFX?

IFSC fortifies license procedure

The IFSC has taken firm steps lately to ensure a safer regulatory environment in the region, in an effort to avoid incidence like the ATS Markets Global false license claims. One of such steps taken involves vital changes to fee structure for brokers operating within its jurisdiction. A key aspect to the restructuring is the hype about the IFSC license fee structure, which includes an increase in licensing fee, alongside an upward review of the capital base requirements of such firms. In the past, financial services providers within the region have benefited from relatively low capital base requirements and licensing fees, compared to other regulators.

Changes made now put the Belize’s International Financial Services Commission (IFSC) license fee at $1,000, a 100 percent hike from the previous $500 amount. Also, the regulator has stated that this fee is non-refundable. As for the annual license fee, a four-fold leap from $5,000 to $25,000 has been stipulated.

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