KROUFR, the self-regulatory organization of the Russian forex brokers, has added the forex broker EU Broker Age to its black list and informed the public that all of its certificates are fake.
“There are three cases of document forgery and dishonest advertising, which are enough reason to put them on our black list”, notes KROUFR on its website. According to the organization, the three documents – a KROUFR membership certificate, a “Best Broker of 2015” certificate and a diploma for best institutional broker from Moscow Forex Expo 2015 are all fake and have never been issued to the broker.
According to Forex Magnates, the organization became aware of the forgeries after a client of EU Broker Age complained he cannot withdraw his funds and nobody is answering his e-mails and phone calls.
The broker has provided two addresses – in Moscow and in London, but no regulatory information and offers trading in forex and CFDs.
By Russian law the brokers based in Russia have to be regulated and a member of a financial self-regulatory organ with at least 10 members in order to offer their services in Russia.