Cold calling firm FXTS Guru cut off following ASIC concerns 

ASIC_regulator

A cold-calling operation promoting FX and binary option products to investors worldwide has agreed to stop contacting Australian investors following ASIC concerns.

The outcome is part of ASIC’s ongoing work in the retail OTC derivative space.

FXTS Guru claimed on its website (www.fxts.guru) it makes up to 3000 calls a day to investors across 40 countries, including Australia, promoting its products and then supplying investors’ contact details to its clients – various FX and binary option issuers.

ASIC raised concerns with FXTS Guru because FXTS Guru was and is not licensed to provide financial services in Australia. In addition, none of FXTS Guru’s listed clients were licensed to provide financial services in Australia.

Following these concerns, FXTS Guru has agreed to cease contacting Australian resident investors and has also agreed to change the information on its website to remove references to Australia.

ASIC Commissioner Cathie Armour said, ‘Investors need to be extremely wary of any unsolicited calls encouraging them to deal in financial products, especially products such as margin FX and binary options which are complex and risky.

‘Always do your own research on a company or individual before you deal with them. You should also seek independent professional or legal advice to ensure you fully understand the products and services being offered and the various risks associated with them.’

Source: ASIC – Cold calling firm FXTS Guru cut off following ASIC concerns

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