The Malta Financial Services Authority (MFSA) has warned against an entity operating under the name of Concept4x, with an internet presence here.

The entity claims to be “one of the fastest growing and best Forex trading platforms”.

Concept4x is not a Maltese registered company, nor is it licensed by the regulator to provide any forex trading services or other financial services required to be authorised under Maltese law, the MFSA said.

“Furthermore, information available to the MFSA suggests that Concept4x is likely to be a scheme of dubious nature with a high risk of loss of money.

“The public should therefore refrain from undertaking any business or transactions with the above-mentioned entity.”

Customers of financial services were reminded not to enter financial services transactions unless it has been ascertained that the entity in question is authorised by a reputable regulator.

“Investors should also be extra cautious when being approached with offers of financial services via unconventional channels such as telephone calls or social media.”

A list of entities licensed by the MFSA can be viewed on the official website of the MFSA here.

Victims of scams, or those who suspect they have been dealing with an unauthorised entity, or any type of financial scam, are encouraged to cease all transactions and contact the MFSA here.