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Forex Scam Watch – Japan’s FSA warns against Sumo Forex

Japan’s Financial Services Agency

Japan’s Financial Services Agency (FSA) has earlier today updated its Warning List of investment companies soliciting Japanese clients without having any necessary permission from the authorities.

The latest addition to the list is Sumo Forex Limited, retail Forex broker providing its services via www.sumoforex.com and claiming to have an address in New Zealand.

The FSA notes that Sumo Forex is offering OTC derivatives trading services online without authorization from Japanese regulators.

This is not the first time Sumo Forex attracts the attention of regulators. Earlier this year in January, the Ontario Securities Commission included the broker into its Warning List, alerting investors that this company is not authorized to offer investment services to Ontario residents.

Paul

The author Paul