Financial Commission Issues Warning Against Broker Group 500

The Financial Commission, an independent external dispute resolution (EDR) body dedicated specifically to FX, announced on Friday that it has added the brokerage firm Group 500 to its Warning List.

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According to the regulator’s announcement, it has been notified by concerned traders regarding the company Group 500 and its associated website. Upon reviewing the submitted information from potential customers of this broker, the Commission has determined that the indicated company and associated website were suspicious of being used to scam and defraud traders and investors.

The indicated firm claims on its website that it operates as a multi-asset broker offering 6 asset classes and over 100 instruments for trading.

The financial watchdog advises not to do business with this entity, either individuals purporting to represent this broker on social media and in private messages on popular messaging apps.