On July 28, 2023, the Swiss Financial Market Supervisory Authority (FINMA) issued a warning against Torobanc, stating that this broker is not entered in its commercial register. https://www.finma.ch/en/finma-public/warning-list/torobanc/

Torobanc fails to disclose any information about its regulatory status, a significant scam indicator, as legitimate brokers always prominently display such information.

Torobanc provides an address in Switzerland, where the financial regulator is Financial Market Supervisory Authority (FINMA). However, we searched the FINMA registry and discovered that the Swiss authority has added Torobanc to its warning list, saying that it is not in their commercial register.

In essence, Torobanc 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.

On 7 November 2023, the United Kingdom Financial Conduct Authority (UK FCA) issued a warning that Torobanc was providing financial services or products in the UK without authorisation. You may visit: https://www.fca.org.uk/news/warnings/toro-banc-toro-bancio

As ToroBanc continues to soliciting investors without the required authorization, the Financial Conduct Authority (FCA) has updated the warning against the scam, revealing more details such as the new domain name to alert the public to stay away from it. https://www.fca.org.uk/news/warnings/toro-banc-toro-bancio