The Australian Regulator (ASIC) announced that they had just added 4 entities to the warning list.Namely: GG Capital Group Limited (trading as BlueLexus), UCI-Limited, and Fibonetix.

As cited from Financemagnates [dot] com on 6 December 2019, the Australian Regulator (ASIC) announced that they had just added 4 entities to the warning list. Blacklisted companies mentioned are GG Capital Group Limited (trading as BlueLexus), UCI-Limited, and Fibonetix, all of which provide forex trading services. One remaining entity is Hertford Group Hong Kong, whose data was not found because the website has been deactivated.

Fibonetix Listed In the ASIC Warning List

 

Associated with the warnings list, ASIC stated that these companies had the potential to scam. Thus, ASIC prohibited the Australian inhabitants from conducting business relations. ASIC also declared that:

The business listed below has made offered calls or sent emails about investing, financial advice, credit or loans and does not hold a current Australian Financial Services (AFS) license or an Australian Credit license from ASIC.

 

Fibonetix Predicaments Not Only in Australia

Before being suspected by ASIC, broker FIBONETIX had also been in trouble with the Luxembourg financial regulator (CSSF). The cases come with similar reasons, namely providing financial services without legality that can be accounted for.

Earlier, in July 2019, the Luxembourg authorities gave a warning to Zeus Tech & Trading Group Ltd operating on the website called Fibonetix. Traders are advised not to carry out transactions with unregulated agencies because they can bring losses to their funds.