FOREX CLUB INTERNATIONAL LIMITED: A Comprehensive Overview
Introduction
FOREX CLUB INTERNATIONAL LIMITED, an established entity in the world of online trading and investment, offers a broad spectrum of services across various financial instruments. This includes trading in currencies, stocks from global companies, precious metals, energy resources, and stock indices.
Company Profile
Founded in 1997, the company’s headquarters are located in Kyiv, Ukraine. FOREX CLUB operates as a private entity, actively engaging in the financial services sector. It extends its services to a diverse clientele, covering over 120 countries globally. The company has made significant strides in employing over 650 professionals worldwide, marking its footprint in the industry.
Services and Offerings
FOREX CLUB provides a versatile range of trading platforms and educational products. It’s not only limited to forex trading but also includes Contracts for Difference (CFDs) on various assets. The company supports a variety of payment methods such as payment cards, bank transfers, and several electronic payment systems, catering to a global audience with accounts in multiple currencies.
Regulatory Compliance and Controversies
A notable aspect of FOREX CLUB’s history is its regulatory challenges. The company faced compliance issues in the US, leading to the cessation of its retail operations in the country. In 2010, it faced difficulties with licensing requirements due to capital issues. Furthermore, in 2012, the National Futures Association charged the company with multiple violations, including inadequate internal controls and anti-money laundering programs. This resulted in a fine and eventual exit from the US market.
Recent Developments
In recent years, FOREX CLUB has focused on promoting the Libertex trading platform, especially in markets like Ukraine and Kazakhstan. The platform is operated by Forex Club International LLC, registered in St Vincent and the Grenadines, and MAEX LIMITED in Mauritius.
Conclusion
FOREX CLUB INTERNATIONAL LIMITED, with its extensive history and global presence, offers a robust platform for trading and investment in a wide array of financial instruments. Despite its past regulatory challenges, the company continues to evolve, adapting to the dynamic landscape of online trading.
Sources: Wikipedia, support.libertex.org, craft.co, and gurutrade.com.