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Algorates

Algorates - Waarschuwing FSMA Belgium - 2015-Jul-02



ALGORATES
WARNINGS
02/07/2015

The Financial Services and Markets Authority (FSMA) warns the public against the activities of Algorates, a company that offers highly risky investment instruments in Belgium without complying with Belgian financial legislation.

Algorates 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, 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 May 2014 about the risks associated with speculative transactions in currencies (forex products).

Finally, Algorates 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 Algorates and against transferring money to any account number it might mention.

Algorates uses the websites www.algorates.com (link is external) and www.sirixtrader.com (link is external).

The FSMA recommends vigilance with regard to companies such as this one that offer forex products or other risky investment instruments. 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 2 July 2015 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 (link sends e-mail)).