The Saudi Ministry of Commerce issues a warning about forex

The Saudi Ministry of Commerce issued a severe warning, through its official account on the “Twitter” website, against forex.

And she said in a tweet seen by “Al”, “Do not lose your money because of your dealings with people or entities who promote unlicensed forex.”

The market for trading in securities in the foreign exchange market is witnessing a wide spread worldwide, attracting investors who lack a regulatory framework and are aware of the danger of venturing with their money and the adverse results that unlicensed “forex” platforms may cause in the field of foreign exchange and investment; In addition to the lack of adequate guarantees to preserve and protect customer funds; The entire capital was lost as a result of such a venture.

With the onset of these investments, the Capital Market Authority, the Saudi Central Bank, and the Ministry of Commerce launched an awareness campaign to protect society from the dangers of dealing with suspicious websites that market to invest in securities without obtaining the required licenses from the competent authorities, and to introduce the innovative means pursued by companies. Unlicensed or fraudulent persons to entrap their victims in unlicensed forex or cryptocurrency activities.

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