Malta MFSA warns against unlicensed entity Fast FX Trading

The Malta Financial Services Authority (MFSA) issued a warning against an entity operating under the name of Fast FX Trading. The entity has an internet presence at https://www.fastfxtradings.com/.

The MFSA stated that this entity is making unauthorised use and reference to the licence number and other company details of an MFSA licensed company.

​The MFSA said it wishes to alert the public, in Malta and abroad, that Fast FX Trading is not a Maltese registered company nor licensed or otherwise authorised by the MFSA to provide any forex trading services, VFA services or other financial services which are required to be licensed or otherwise authorised under Maltese law. Furthermore, the MFSA suggests Fast FX Trading is likely to be a scheme of dubious nature with a high risk of loss of money. The public should therefore refrain from undertaking any business or transactions with the above-mentioned entity.

The regulator would like to remind consumers of financial services not to enter into any financial services transaction unless they have ascertained that the entity with whom the transaction is being made is authorised to provide such services by the MFSA or another reputable financial services regulator. Investors should also be extra cautious when being approached with offers of financial services via unconventional channels such as telephone calls or social media.