Maltese watchdog warns of bogus NSBroker domains

The Malta Financial Services Authority (MFSA) issued a warning against forex brokers offering services without authorization. Websites like https://nsbroker.cc, https://nsbroker.net, https://nsbroker.pro, https://nsbroker.live, https://nsbroker.trade and https://nsbroker.online do not represent a Maltese entity and are not authorized to provide financial services in or from Malta. These domains are using the details of an MFSA-licensed company, NSFX Limited (also operating under the brand called 'NSBroker'), to deceive the public. Ironically, some operatives of these domains are so unprofessional that they forgot to replace NSFX Ltd's name on some website pages. The MFSA has been strengthening its regulatory efforts in recent years. For example, it has increased the capital requirement for category 2 investment services licence applicants to €730,000, compared to €125,000 under the previous rules. It also emphasized that operating a crypto-related business in the country requires an MFSA license under the Virtual Financial Assets Act of 2018.