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Prussia Fx

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Operating status: SCAM

Website: https://www.prussiafx.com/

Broker violations and abnormal records
  • 2023-07-26 The UK FCA issues a warning against Prussia Fx

    On July 27, 2023, the Financial Conduct Authority (FCA) issued a warning against Prussia Fx, believing this broker might be providing financial services or products without proper authorization. https://www.fca.org.uk/news/warnings/prussia-fx

    On July 27, 2023, the Financial Conduct Authority (FCA) issued a warning against Prussia Fx, believing this broker might be providing financial services or products without proper authorization. https://www.fca.org.uk/news/warnings/prussia-fx
  • 2023-07-27 BrokersView has reviewed that Prussia Fx is an unregulated broker

    Firms engage in forex trading and brokerage in the US are required to be regulated by the Commodity Futures Trading Commission (CFTC) and the National Futures Association (NFA). To meet that requirement, companies involved in such activities need to be an NFA member first. Therefore, we searched the register of the NFA for Prussia Fx, a company claiming to be authorized by the US Securities Exchange Act. However, no matching record exist in the NFA register, suggesting that it doesn't comply with relevant regulations.

    Furthermore, it provides an address in the UK. To legally offer financial services in this country, Prussia Fx needs to seek authorization from the Financial Conduct Authority (FCA). However, the FCA has added Prussia Fx to its warning list as an unauthorized firm.

    In essence, Prussia Fx 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.

    Firms engage in forex trading and brokerage in the US are required to be regulated by the Commodity Futures Trading Commission (CFTC) and the National Futures Association (NFA). To meet that requirement, companies involved in such activities need to be an NFA member first. Therefore, we searched the register of the NFA for Prussia Fx, a company claiming to be authorized by the US Securities Exchange Act. However, no matching record exist in the NFA register, suggesting that it doesn't comply with relevant regulations.Furthermore, it provides an address in the UK. To legally offer financial services in this country, Prussia Fx needs to seek authorization from the Financial Conduct Authority (FCA). However, the FCA has added Prussia Fx to its warning list as an unauthorized firm.In essence, Prussia Fx 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.

Related Complaints

Q&A

How long it takes to process withdrawl request in Prussia Fx?

Christopher jun Langoyan
Bulgaria
2023-08-15
ANSWER If you are looking to engage with Prussia Fx, please drop the plan. If you have traded with this platform, please proceed with extreme caution and have no further deals with it.As per US law, firms engaging in forex trading and brokerage in this jurisdiction are required to be regulated by the Commodity Futures Trading Commission (CFTC) and the National Futures Association (NFA). However, Prussia Fx fails to meet that requirement as our search for this company in the register of the NFA didn't yield any matching results. While it claims to be authorized by the US Securities Exchange Act, Prussia Fx, in fact, doesn't comply with relevant regulations.In addition, despite having an address in the UK, Prussia Fx fails to seek authorization from the Financial Conduct Authority (FCA), as evidenced by the FCA warning.In essence, we strongly suggest investors stay away from unlicensed brokers like Prussia Fx and choose a fully regulated counterpart. Or the money and personal information are not protected by relevant rules.
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