MFSA issues warning about three online companies

Three online companies that claim to be operating in line with Maltese law are not registered with the financial regulator and are not authorised to operate in Malta, the MFSA has warned. The regulator issued warnings about Legit Crypto Option or Citizen Crypto Mining FX  (https://007cryptooption.com/index.html), Admiral Capital Trade (https://www.admiralcapitaltrade.com/) and Hillwood Limited (https://www.hwlimited.com/) Legit Crypto Option or Citizen Crypto Mining FX claims to be ‘authorized and regulated by MFSA as a MiFID firm and holds a Category 3 Investment Services Licence”. This is not true and the company is likely to be a “scheme of dubious nature with a high risk of loss of money,” the MFSA warned. Admiral Capital Trade claims to be a market maker for CFD and Spot FX Contracts and claims to be “Regulated under the strict standards of the MFSA in Malta”. This is not true. Hillwood Limited presents itself as “a specialist asset manager” and an insurance company that is registered to the office address of a Maltese-registered company with a similar name. However, it is not licenced to operate in Malta and has no association with that Malta-registered firm, Hillwood...