Hungary’s MNB Bans Forex Company
- 13 Jan 2016 8:00 AM
Pro Trade FX, a foreign-currency trader registered in the British Virgin Islands, has been banned from conducting unlicensed investment services and activities and acting as an agent in Hungary, effective immediately, the MNB has announced.
Besides providing unlicensed services, Pro Trade presents further risks to investors as it is registered outside of Hungary, where the MNB has no jurisdiction and investors are not entitled to compensation, the MNB said.
Source: Hungary Around the Clock
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