Investor warning against activities of the company operating under the brand name FXLider

Hanfa alerts investors to the services of the company operating under the brand name FXLider, offered and provided in the Republic of Croatia via its website http://www.fxlider.com/cr.

This website and various articles published in the media state that FXLider and the investment firm Fortrade Ltd. have concluded an agreement on promoting the Fortrade service for trading and platforms, i.e. investment services performed by Fortrade Ltd., a company authorized and regulated by the UK supervisory agency FCA (Financial Conduct Authority).

Pursuant to the Croatian Capital Market Act (Official Gazette 88/08, 146/08, 74/09, 54/13, 159/13, 18/15), an investment firm with its registered office in another Member State is allowed to provide, under certain conditions, its investment services in the Republic of Croatia, only in the following manner:

  • Directly,
  • Through the establishment of a branch,
  • Via a tied agent with its registered office or residence in the Republic of Croatia having Hanfa’s authorization,
  • Through an investment firm or credit institution authorized by HANFA or the Croatian National Bank to provide investment services.

The company operating under the brand name FXLider is not established as a branch of Fortrade Ltd., nor does it have its registered office, nor is it established as a branch in the Republic of Croatia. Furthermore, FXLider is not appointed as a tied agent nor is it authorized to perform investment services in the Republic of Croatia. In addition, the domain of the web page used for offering its services is not registered in the Republic of Croatia.

As a consequence , Fortrade Ltd. does not have authorization to provide investment services based on a notification in the Republic of Croatia (trading in financial instruments such as shares, CFDs, currency derivatives, etc.) through the above mentioned company or via its web page.

Hanfa therefore urges investors to exercise extreme caution when considering a decision on accepting an offer made on the FX Lider website, as Hanfa does not monitor the lawfulness of business operations of that company, nor can it have any influence on the protection of rights and interests of investors dealing with companies and/or persons who have neither notified Hanfa of their activities or have Hanfa’s appropriate authorizations and/or licenses.

The list of companies possessing Hanfa’s authorization to provide investment services and perform investment activities, the list of tied agents and the list of notified financial services providers from other EU Member States for the direct provision of services in the Republic of Croatia are available on Hanfa’s website under the following link.