Aggregated News From Investment Management Regulators

MFSA Warning – BTSave – Unlicensed Exchange – MFSA

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The Malta Financial Services Authority (“MFSA”) has become aware of an entity operating under the name of BTSave.  The entity presents itself as a Forex Broker providing a platform for trading in major commodities, stocks, indices and cryptocurrencies.

The MFSA wishes to alert the public, in Malta and abroad, that BTSave is NOT a Maltese registered Company NOR licensed or otherwise authorised by the MFSA to provide the service of an exchange or other financial services which are required to be licensed or otherwise authorised under Maltese law. The MFSA would also like to make reference to the warning that has been issued against BTSave by the UK Financial Conduct Authority for providing financial services or products in the UK without the required authorisation. The public should therefore refrain from undertaking any business or transactions with the above-mentioned entity.

The MFSA reminds consumers of financial services not to enter into any financial services transaction unless they have ascertained that the entity with whom the transaction is being made is authorised to provide such services by the MFSA or another reputable financial services regulator. Investors are advised to be extra cautious when being approached with offers of financial services via unconventional channels such as telephone calls or social media.

A list of entities licensed by the MFSA can be viewed on the official website of the MFSA at http://www.mfsa.com.mt/pages/licenceholders.aspx.

If you are a victim of a scam or think you might be dealing with an unauthorised entity or any other type of financial scam, first of all stop all transactions with the company and contact the MFSA at https://www.mfsa.mt/about-us/contact/ as soon as a suspicion arises.

Regulator Information

Abbreviation: MFSA
Jurisdiction: Malta

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