IFSC Warns Against TenkoFx Forex Trading Services for Fraudulent Licence

The International Financial Services Commission (IFSC), a statutory authority established in Belize to regulate and supervise the international financial services sector, has issued a warning against TenkoFx Forex Trading Services for providing service with fake licence.

According to the regulator, the company is using or giving out the following details:

Name of Individual/Entity: TenkoFx Forex Trading Services

Address: Corner of Jews Street & Marion Avenue, Ramsbury Site, Charlestown, Nevis

Fraudulent Licence No: IFSC/60/349/TS/15

Website: https://tenkofx.com

Email:finance@tenkofx.com, marketing@tenkofx.com

Phone: +44 114 463 0905, +44 190 421 1064

Taking a look at the company’s website, TenkoFx claims that “Our business focus is to provide our customers with access to the Forex market, spot indices, spot metals and energy as well as crypto-currencies”, but no regulatory information can be traced anywhere on the website.

Furthermore, in the legal provision section of the official website, the fraudulent company claims that“The company’s authorization to provide financial services is issued by the International Financial Services Commission of Belize. This authorization is published and maintained on the regulator’s official website. The license issued for a one year period, and is renewed annually. The company’s licence can be verified via the IFSC website at www.ifsc.gov.bz, in the register of licensed entities authorized to offer services in trading in financial and commodity-based derivative instruments and other securities (List F under the Licensed Service Providers tab). ” 

Looking into the company’s licence number on IFSC official website, its information is not shown under the category of trading in financial and commodity-based derivative instruments and other securities as it claims in its official website. The company actually uses fake licence and details to fraud traders.