Dear Investor,
BoForex claims that its operating entity, BoForex Company LTD, is a “fully licensed and regulated broker” authorized by a “top-tier regulator.” However, the only regulatory information it provides is a purported registration in Saint Vincent and the Grenadines.
First, we were unable to locate any record of BoForex Company LTD in the official register of the Financial Services Authority (FSA) of Saint Vincent and the Grenadines. Second, even if such a registration existed, it would only confer International Business Company (IBC) status, which does not constitute a valid financial services or forex trading license. In fact, the SVG FSA has explicitly stated that it neither regulates nor licenses forex trading activities, and there is no other authority in SVG that oversees forex brokers.
Therefore, BoForex’s claims about being fully licensed appear to be highly misleading, and possibly false. At worst, it may not even be legitimately registered as a company.
Given these serious concerns, we strongly advise against investing or trading with BoForex, as it exhibits clear signs of being an unregulated and potentially fraudulent broker.
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