Forex

Forex betting apps lure unwitting investors as crypto craze wanes


More than half a dozen apps, offered by brokerages registered in distant jurisdictions like St. Vincent and the Grenadines, a Caribbean tax haven, and the British Virgin Islands (BVI) are peddling their online services.

Synopsis

The Financial Commission, however, is not a regulatory body, as a quick internet search would show, but a dispute resolution organisation for forex trades.

As the crypto craze wanes, investors hunting for the next get-rich-quick bet are joining the forex rush. Many are unwittingly depositing money with forex trading apps to punt on intra-day and short-term price movements of the dollar, euro, Japanese yen and popular foreign currency pairs — trades that regulatory professionals believe could put these small investors on the wrong side of the law.

More than half a dozen apps, offered by

BY

ETtech

6 mins read, Last Updated:

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Read More:Forex betting apps lure unwitting investors as crypto craze wanes

2022-09-02 00:30:00

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