Two entities going by the names of MXTrade and Trading Banks are operating without the appropriate licences, the Malta Financial Services Authority said today.

It said in a statement that MXTrade and TradingBanks were brands owned and operated by or associated with a Malta registered company, Grizzly Limited, with a registered office at Floor 5, 115A, Msida Valley Road, Birkirkara BKR 9024, Malta.

The authority said that MXTrade, TradingBanks and/or Grizzly Limited were not licenced or otherwise authorised by the MFSA to provide any investment or other financial services required to be licenced or otherwise authorised under Maltese law.

The MFSA strongly advised investors and consumers of financial services that prior to making any investment or entering into any financial services transaction they should ascertain that the entity with whom the investment or transaction was being made was authorised to provide such services by the MFSA or another financial services regulatory authority. 

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