Velmon Enterprise Ltd (“FX Market Pro”) - Warnings Published by Austrian Financial Market Authority (FMA), Financial Service Authority (FSA) / Financial Regulator / Financial Conduct Authority (FCA)
Number of dubious providers remains high, Warnings from supervisory authorities have been issued, Velmon Enterprise Ltd (“FX Market Pro”)
Austria's supervisory authority FMA has again issued a warning. It concerns the supplier Velmon Enterprise Ltd respectively FX Market Pro, which is supposed to be based in the Marshall Islands. The company advertises trading services on its website.
According to the FMA, however, the company is not entitled to provide banking transactions requiring a license in Austria. Therefore, the provider is not allowed to trade on its own or another account (Section 1 (1) no. 7 BWG).
Last year, with 62 warnings, the FMA issued more investor warnings than ever before. The warnings before dubious providers had thus even the peak year 2011, at that time the authority issued 51 investor warnings, exceeded.
Warnings from supervisory authorities have been issued in regard to Velmon Enterprise Ltd (“FX Market Pro”). List of warnings issued by financial supervisory authorities regarding Velmon Enterprise Ltd (“FX Market Pro”) in EU/EEA-countries can be seen as follows:
The Austrian Financial Market Authority (FMA) and the Financial Conduct Authority (FCA) added the unregulated firm Velmon Enterprise Ltd (“FX Market Pro”) to its warning list. The regulator stated that this entity Velmon Enterprise Ltd (“FX Market Pro”) is not allowed to trade on a commercial basis on its own account, nor on behalf of others, as these transactions in Austria require a license.
By publication in the official gazette “Amtsblatt zur Wiener Zeitung” the FMA informed that
Velmon Enterprise Ltd (“FX Market Pro”)
Trust Company Complex, Ajeltake Road, Majuro
Marshall Islands MH96960
is not entitled to carry out banking transactions in Austria that require a licence.
According to the provided information on these websites it is believed that Velmon Enterprise Ltd (“FX Market Pro”) has been providing financial services or products without authorisation. In cases of investment companies / firms which are acting without authorisation of the relevant financial supervisory authority and which are targeting people in the EU precaution is recommended. Find out how to protect yourself from scammers and possible investment frauds by reviewing our provided information as follows:
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