Is Athens Markets Subject to Regulation? – The Significance of Regulatory Oversight
Athens Markets professes to be a trading name of Athens Markets Ltd, which claims registration in the British Virgin Islands (BVI). This territory is often likened to other locations like Saint Vincent and the Grenadines or the Marshall Islands, notorious for their minimal financial regulatory frameworks.
The Importance of a Trading License Explained
Even though the BVI is recognized for its relaxed regulatory environment, it does have a formal financial authority, the Financial Services Commission (FSC). Ideally, any firm based in the BVI would seek accreditation from this governing body. However, Athens Markets does not hold a license with the BVIFSC or any other prominent Tier 1 regulator, such as the UK’s Financial Conduct Authority (FCA), the Australian Securities and Investments Commission (ASIC), or Germany’s Federal Financial Supervisory Authority (BaFin).
Locations of Alleged Victims of Athens Markets Scam
Our investigation aims to pinpoint the regions most impacted by the purported Athens Markets trading scam and to identify the primary targets of the broker’s advertising efforts. Evidence gathered from our review indicates that the bulk of grievances originate from:
- United States
- Canada
- United Kingdom
- Norway
- United Arab Emirates
Timeline of the Broker’s Operations
Despite assertions of being a newly registered entity, the broker’s website was actually launched in July 2021. It is around this time that the company began to construct its network for the alleged scheme, promoting narratives of prospective gains through this new brokerage.
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