EBC Financial Group Warns Against Scams- What Happened?

EBC Financial Group warns against scams, emphasizes official channels and reaffirms regulatory compliance against impersonation threats.

Home » EBC Financial Group Warns Against Scams- What Happened?

EBC Financial Group (EBC) warns against scams where impostors pose as EBC staff across various online platforms. The fraudulent activities encompass webpages, apps, and social media channels like Facebook and Line. The Financial Conduct Authority in the UK, the Australian Securities and Investments Commission in Australia, and the St. Vincent and the Grenadines Financial Services Authority regulate the institution.

EBC clarifies that it exclusively offers the official mobile application developed by MetaQuotes and does not provide any in-house alternatives. Strongly advise clients to download the official application software directly from MetaQuotes’ official channels. Additionally, EBC does not engage in cryptocurrency trading and does not offer Contracts for Difference (CFDs) related to cryptocurrency products.

EBC Warns Against Scams

EBC Financial Group (UK) Ltd explicitly does not authorize any individual or institution to provide investment recommendations. Warn clients against accepting trading recommendations from individuals claiming to represent EBC. The firm asserts its right to take legal action against entities and individuals found misusing its name for fraudulent activities. EBC is committed to offering free legal assistance to victims who incur losses due to fraudulent acts. Those seeking support can visit the official website and contact customer service via email or live chat.

Finance Magnates previously reported EBC’s membership granted by the Financial Commission (FinCom) on July 5.The FinCom, an independent third-party dispute resolution organization, specializes in resolving disputes between traders and brokerage companies involved in various financial activities, including foreign exchange, CFDs, derivatives, and cryptocurrency trading. EBC’s membership enhances its presence globally, with offices in major economic hubs.

It’s crucial to note that FinCom, with over 40 members, offers protection of up to EUR 20,000 per complaint submitted by its members, supported by the commission’s compensation fund. While expanding its membership, FinCom has previously suspended certain members, such as LordFX, Gann Markets, and BalansFX, for alleged non-compliance, resulting in the forfeiture of access to the compensation fund for the affected brokers.
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