The Malta Financial Services Authority ("MFSA") has become aware of an entity operating under the name of ApexTrade Options Ltd which has an internet presence at https://apex-tradeoptions.com/index.php.

The entity claims to be "authorized and regulated by MFSA as a MiFID firm and holds a Category 3 Investment Services Licence".

The MFSA said that this website is making "unauthorised use and reference to the registered address and other company details of a Maltese licensed company."

"The MFSA wishes to alert the public, in Malta and abroad, that ApexTrade Options Ltd is not a Maltese registered company nor licensed or otherwise authorised by the MFSA to provide the service of an exchange or other financial services which are required to be licensed or otherwise authorised under Maltese law," the MFSA said.

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

The MFSA reminded consumers of financial services not to enter into any financial services transaction unless they have ascertained that the entity with whom the transaction is being made is authorised to provide such services by the MFSA or another reputable financial services regulator. "Investors are advised to 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 at https://www.mfsa.mt/financial-services-register/.

If you are a victim of a scam or think you might be dealing with an unauthorised entity or any other type of financial scam, first of all stop all transactions with the company and contact the MFSA at https://www.mfsa.mt/about-us/contact/ as soon as a suspicion arises.