Swiss Financial Regulator Flags Unregulated Forex Brokers to Alert Investors

To traders, checking the warning lists issued by global financial watchdogs is one of the best ways to avoid investment scams.

The Swiss Financial Market Supervisory Authority (FINMA) is authorized by the government to oversee all types of financial institutions as a regulator.

FINMA's forex brokers are required by law to be registered as banks, but there are still unregistered companies offering financial services locally or claiming to be based in Switzerland.

These unregistered entities may pose significant risks to investors as they are probably scams.

In the past two months, the FINMA has added new financial service providers to its Warning List, with nine Forex brokers flagged. Check out the details below and do not fall for the traps.

PellerTrading

Address: Claridenstrasse 20, 8002 Zürich

Website: https://pellertrading.com/

The Profit Legion

Address: 1 Rue Du Pre-de-la-bichette, Geneva, 1202

Website: https://theprofitlegion.net/

ApexMarkets26

Address: Avenue de la Gare des Eaux-Vives 9, 1211 Genève

Website: www.apexmarkets26.com

KeyWealth Ltd

Address: Bahnhofplatz 2, 8001 Zürich

Website: https://keywealthltd.net/

swiss-v.com

Address: Richtistrasse 2, 8304 Wallisellen

Website: www.swiss-v.com

GoodyUpTrust Limited

Address: Rue des Ormonts, 1865 Les Diablerets

Website: goodyuptrustltd.com

Nixars Group

Address: Thurgauerstrasse 40, 8050 Zürich

Website: nixarsgroup.com

OTG Exchange

Address: Rue du Rhône 40,1204 Genève, Switzerland

Website: http://www.otgexchange.com/

TIGcap

Address: Rue du Rhône 78, 1204 Genève, Switzerland

Website: tigcap.co