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PolaxGroup

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Operating status: SCAM

Website: https://polaxgroup.com/; https://www.polaxgroup.co/

Broker violations and abnormal records
  • 2023-08-03 The UK FCA issues a warning against PolaxGroup

    On August 4, 2023, the Financial Conduct Authority (FCA) issued a warning against PolaxGroup, believing this broker might be providing financial services or products without proper authorization. https://www.fca.org.uk/news/warnings/polaxgroup

    On August 4, 2023, the Financial Conduct Authority (FCA) issued a warning against PolaxGroup, believing this broker might be providing financial services or products without proper authorization. https://www.fca.org.uk/news/warnings/polaxgroup
  • 2023-08-06 BrokersView has reviewed that PolaxGroup is an unregulated broker

    PolaxGroup fails to disclose its regulatory information and licensing data, a significant scam indicator.

    Additionally, the Financial Conduct Authority (FCA) has issued a warning against PolaxGroup, cautioning the public of this unauthorized firm.

    In essence, PolaxGroup is not regulated by any governing body. Entrusting this broker with investors' funds is highly risky, as there are no legal protections in place to safeguard the funds. It is unequivocally a scam.

    PolaxGroup fails to disclose its regulatory information and licensing data, a significant scam indicator.Additionally, the Financial Conduct Authority (FCA) has issued a warning against PolaxGroup, cautioning the public of this unauthorized firm.In essence, PolaxGroup is not regulated by any governing body. Entrusting this broker with investors' funds is highly risky, as there are no legal protections in place to safeguard the funds. It is unequivocally a scam.
  • 2023-12-26 The BCSC issued a Warning against PolaxGroup

    On 20 December 2023, the British Columbia Securities Commission (BCSC) issued a warning against PolaxGroup, stating that this broker is not registered to trade in, or advise on, securities or derivatives in BC. https://www.bcsc.bc.ca/enforcement/early-intervention/investment-caution-list/2023/polaxgroup

    On 20 December 2023, the British Columbia Securities Commission (BCSC) issued a warning against PolaxGroup, stating that this broker is not registered to trade in, or advise on, securities or derivatives in BC. https://www.bcsc.bc.ca/enforcement/early-intervention/investment-caution-list/2023/polaxgroup
  • 2024-04-18 FCA warns the public to avoid PolaxGroup once again

    PolaxGroup's old domain name (http://polaxgroup.com/) is for sale. PolaxGroup is still operating under a new domain name (www.polaxgroup.co) and continues to conduct fraudulent activities to steal money. Therefore, the FCA updates its warning against PolaxGroup, cautioning the public to stay away from this unauthorized firm. https://www.fca.org.uk/news/warnings/polaxgroup

    PolaxGroup's old domain name (http://polaxgroup.com/) is for sale. PolaxGroup is still operating under a new domain name (www.polaxgroup.co) and continues to conduct fraudulent activities to steal money. Therefore, the FCA updates its warning against PolaxGroup, cautioning the public to stay away from this unauthorized firm. https://www.fca.org.uk/news/warnings/polaxgroup

Related Complaints

Q&A

My friend told me that PolaxGroup is unregulated, would you help me to verify the platform's license?

Yetta Widjaja
France
2023-08-29
ANSWER Yes, your friend is right. PolaxGroup is unregulated.It is a significant scam indicator that PolaxGroup fails to disclose its regulatory information and licensing data. The lack of transparency often suggests the intent to defraud.Furthermore, the fraudulent nature of PolaxGroup has been further proven by the warning from the Financial Conduct Authority (FCA). According to the FCA, PolaxGroup is not licensed by them but targets British citizens.Therefore, PolaxGroup is an unregulated broker. There are no rules in place to safeguard the money and personal information held by the platform and hence investors are exposed to fraud and identity theft. As such, to avoid such risks, it is advisable to stay away from unregulated brokers like PolaxGroup and opt for a fully regulated one.
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