News & Warnings

Lau Global Services Corporation, MXTrade and Taris Financial Corp.

Warnings
18/04/2016

The Financial Services and Markets Authority (FSMA) warns the public against the activities of Lau Global Services Corporation, trading under the business name MXTrade, a company that offers highly risky investment instruments in Belgium without complying with Belgian financial legislation.

Lau Global Services Corporation, trading under the business name MXTrade, is not an authorized investment firm or credit institution in Belgium. It is therefore not allowed to provide banking and/or investment services in or from Belgium.

Furthermore, certain investment instruments that this company offers, i.e. forex products and CFDs, are speculative and involve significant risks, with the investor in such products running the risk of losing the entire amount invested or, in some cases, even more than that amount. The FSMA already published a warning in June 2011 about the risks associated with speculative transactions in currencies (forex products).

Finally, Lau Global Services Corporation (MXTrade) has not published a prospectus approved by the FSMA, as is required before any public offering of investment instruments may be made within the territory of Belgium.

The FSMA therefore strongly advises against responding to any offers of financial services or to any public offers of investment instruments made by Lau Global Services Corporation (MXTrade) and against transferring money to any account number they might mention.

Lau Global Services Corporation (MXTrade) claims to have its registered office at 5 Cork Street, Belize City, Belize, C.A. It uses the website www.mxtrade.com, the email address cs@mxtrade.com and the phone numbers +442031294080 and +357-2200-7310. It also uses a bank account in Cyprus purportedly opened in the name of the company Taris Financial Corp.

On 8 September 2015, this company was the subject of a warning published by the Cyprus Securities and Exchange Commission (CySEC).

According to the information available to the FSMA, the Belgian financial consumers who invested with this company have to date been unable to recover the sums invested.

The FSMA recommends vigilance with regard to companies such as this one which offer forex products and CFDs. Always verify that any company which is offering you financial services has the requisite authorization. For more recommendations, please consult the general warning published by the FSMA on 18 April 2016 on its website.

If you wish to check in general whether a proposed transaction complies with the financial regulations, please use the search function (available in Dutch and French only) on the website of the FSMA. You can also contact the FSMA (email address: info@fsma.be).