The Malta Financial Services Authority has warned against two companies it says are impersonating Maltese companies to advertise financial services online. 

Mistral Trading and Paramount FX Trade are both unauthorised to provide such services and are using legitimate companies to deceive the public, the MFSA warned. 

Companies providing financial and exchange services must be licensed to do so under Maltese law. 

It warned the first company, Mistral Trading, operating from the website https://mistraltradingltd.com/, is using the details of a Maltese registered company, Mistral Trading Limited (C 85815) that provides shipping services.

"The website https://mistraltradingltd.com/ appears to be a clone of the legitimate entity and the public should refrain from undertaking any business or transactions with the false entity," the MFSA said in a statement.

The second company, Paramount FX Trade or PFXT Ltd, which has an internet presence at https://paramountfxtrade.com/, claims to be “a regulated broker by the MFSA over seven years” and “a market maker for CFD and Spot FX Contracts”.

This website, the MFSA said, is making unauthorised use and reference to the registered address and other details of a Maltese licensed company.

A list of bodies and companies licensed by the MFSA can be viewed on the official website of the MFSA here.

Sign up to our free newsletters

Get the best updates straight to your inbox:
Please select at least one mailing list.

You can unsubscribe at any time by clicking the link in the footer of our emails. We use Mailchimp as our marketing platform. By subscribing, you acknowledge that your information will be transferred to Mailchimp for processing.