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Unlicensed Forex Broker LuxQuotes Warned by Luxembourg Regulator

2024-11-29 BrokersView

Unlicensed Forex Broker LuxQuotes Warned by Luxembourg Regulator

On November 26, Luxembourg's Commission de Surveillance du Secteur Financier (CSSF) alerted the public to fraudulent activities regarding LuxQuotes.

 

According to the regulator, the company LuxQuotes Bank Europe Ltd (LuxQuotes), which claims to be registered in Luxembourg, was not authorized by the local regulator.

 

This broker used the website www.luxquotes.com to promote its financial services, boasting about its experts.

 

In addition, the Luxembourg regulator also presented the e-mail address and phone number used by the scammer.

 

The CSSF stated, “LuxQuotes and LuxQuotes Bank Europe Ltd are not supervised by the CSSF and have not been granted any authorisation to provide investment services or other financial services in or from Luxembourg.”

 

LuxQuotes claimed to help clients access global markets, provide expert analysis and innovative tools to maximize financial growth, and offer unparalleled trading and investment opportunities. However, the mere fact that it is not regulated is well enough to make it an untrustable broker for investors.

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