MFSA warns of unregistered and unlicensed entity

MFSA

The Malta Financial Services Authority, MFSA, has issued a notice to inform the public that the entity under the name Spring-FX is not a Maltese registered company and is not licensed or authorized by the MFSA to provide any financial services or Fintech services which are required to be licensed or otherwise authorized under Maltese law.

The MFSA also said that SpringFx-Pro offers Secured Accounts, Trading Signals, Trade Assistant, Quick Payout and Forex/Crypto Currency News Update and it mentions that they are regulated by the Malta Financial Services Authority followed by a Licence number. 

The MFSA reiterated that the entity’s licence number is not linked to the entity in subject.

The Malta Financial Services Authority has also informed 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 as activities of unlicensed entities are unregulated making transactions with such entities risky for consumers.

A list of entities licensed by the MFSA can be viewed on the official website of the Authority:  https://www.mfsa.mt/financial-services-register/.