Brief Look at FXNobel
FXNobel claims on its website to be regulated by the RMI Banking Commission of the Marshall Islands, with transaction processing handled by Cohen Group Ltd, registered in Bulgaria. However, FXNobel's status with the RMI Banking Commission has been revoked, and Cohen Group Ltd is not listed in the registry of the Financial Supervision Commission (FSC) of Bulgaria. Therefore, the information on FXNobel's website is false. The revelation that the broker was operating illegally came to light after some time, during which traders continued to register and subsequently encountered various problems.
Many clients reported being misled from the outset of their engagement with FXNobel. The company promised conditions that turned out to be significantly worse than advertised. The most common complaints revolved around difficulties with withdrawing funds. Numerous traders lost all their investments due to balance resets, denied withdrawals,or account blocks.
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