Brief Look at IMMFX
IMMFX was based in Saint Vincent and the Grenadines (SVG FSA). This regulator has repeatedly stated that it does not issue forex trading licenses or oversee brokerage activities. The company actively attracted clients from the Middle East and Southeast Asia by offering aggressive bonuses and swap-free accounts. The broker used bonuses to retain funds within the system. When clients attempted to withdraw profits, they were given impossible conditions for "overtrading lots" or had their trades cancelled, labeling them "arbitrage." IMMFX closed due to a typical problem with offshore shell companies: the inability or unwillingness to pay out profits to clients in the absence of external control. Any remaining funds on clients' balances at the time of closure are considered irretrievably lost.
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