FXLINK's website tells you it is FXLINK CORP LIMITED, a Comoros company with a Mwali licence. The contract you accept names FXLINK Co.,Ltd of London instead. The Comoros company appears in none of the 11 legal documents.
Why this matters
If your money goes missing, you would be chasing a London company, not the licensed one you were shown. The licence on the website belongs to a company that signed nothing with you.
Exhibit 1Every flagged clause gets its own number so you can point at this one. The number does not change, so a link to it keeps working.CriticalHow much this clause can cost you, in our reading. Critical can take your money or your profit. Warning can delay or limit it. Notice is simply worth knowing before you sign.Rarely seenHow ordinary this wording looks next to the contracts we read. This is our reading of the clause, not a count of other brokers.11The figure this clause puts a number on, taken from the broker's own words.
FXLINK Co.,Ltd, (hereinafter “Company”), 27, Old Gloucester Street, LONDON, WC1N 3AX, UNITED KINGDOM is incorporated under registered in UNITED KINGDOM, Number 12671959, registered by the Securities and Exchange Commission of UNITED KINGDOM
Where it sits: section 2 of 94 in the Client Agreement, near the start.We counted the numbered sections in the Client Agreement. This clause sits in section 2 of 94, about 2% of the way through. A fee written on the first page and the same fee written near the end are not the same disclosure.
Firms licensed by the FCA or CySEC must tell a retail client which legal entity they are contracting with before they trade. Here the website and the contract name different companies in different countries.
FXLINK is not licensed by these regulators, so this is a comparison of practice, not a finding of any breach.
Our readingOur own comment on the clause, not the broker's words. Anything we quote is marked as a quotation.Brokers commonly run several group entities. Naming one company on the website and a different one, in another country, in every contract is not a group structure. It leaves the licensed company outside your agreement.
- Worse together with Exhibit 17Read these two clauses together. Each one costs more because the other exists.You cannot tell which company you dealt with, and the two contracts point at two different countries' courts.