FINMA has issued a warning against Swiss Assets FX
The Switzerland financial markets and service providers regulator FINMA has warned of unregulated forex broker Swiss Assets FX. The Swiss Financial Market Supervisory Authority (FINMA) is the Swiss government body responsible for financial regulation. This includes the supervision of banks, insurance companies, stock exchanges and securities dealers, as well as other financial intermediaries in Switzerland. FINMA keeps a close eye on the unregulated brokers and usually warns in a timely manner of those who make false claims of Swiss regulation or location but are not Swiss-regulated. According to the Swiss Assets FX website www.sfmsas.net, the company is located in Basel, Switzerland and is authorized by the Swiss Securities and Exchange Commission (‘SFMSAS’). Although there is no such institution as Securities and Exchange Commission in Switzerland and usually FINMA is the regulator who can provide with the trading license. Those companies that claim to be located and regulates in Switzerland without having an actual authorization in the country, are just trying to mislead the customers. As the first thought of a Swiss company is that it should definitely be reliable and properly registered. The negative comments about the Swiss Assets FX on the net also reveal that those who invested are having hard times with withdrawing their money, while the company representatives are cold calling them promising high returns. It is better to avoid such unregulated brokers, especially when there are client complaints against them. It is always safer to deal with the regulated companies, especially by reputable agencies like FCA. You can read our review on this broker here.