Swiss FINMA Warns Against Unregistered Forex Brokers

The Swiss Financial Market Supervisory Authority (FINMA), a government-authorized financial regulator, has issued a warning about unregistered forex brokers operating in Switzerland. In its function as a financial regulator, FINMA highlights the need for registration for forex brokers, who are legally obliged to be registered as banks. Despite this rule, several organizations continue to provide financial services in their home country while claiming Swiss affiliation.

Investors and consumers are strongly urged to exercise caution and due diligence when dealing with the following unregistered brokers:

Global-ICM

• Address: Rue de Lyon 77, 1203 Genève

• Website: www.global-icm.com

Plus-600 Management Ltd

• Address: Richtistrasse 2-6, 8304 Wallisellen, Schweiz

• Website: www.plus-600.com

iTORO

• Address: 102 Hagenholzstrasse, Zürich

• Website: https://www.itoro.io/

Note: Please be aware that iTORO should not be confused with Toro Trading AG, Sarnen, which is duly registered in the Swiss Commercial Register (CHE-114.647.071).

Powerwealth

• Address: Althardstrasse 80, 8105 Regensdorf, Switzerland

• Website: https://www.powerwealth.ch/de/

Zero Point

• Website: https://www.0p0p.com/

It is essential to check the qualifications and registration status of any financial service provider with whom you wish to work. The warning issued by FINMA is a proactive effort to protect customers' interests and investments in the Swiss financial sector.

Investors and consumers are advised to swiftly report any questionable or unregistered financial institutions to FINMA. The authority is devoted to maintaining the integrity and transparency of Switzerland's financial services industry.

About FINMA

The Swiss Financial Market Supervisory Authority (FINMA) is the Swiss government-authorized regulatory agency in charge of supervising and regulating Switzerland's financial institutions. The fundamental goal of FINMA is to ensure the stability and integrity of the Swiss financial market, while also protecting consumers and adhering to financial legislation.