Brazilian authorities have issued a FX Trading Corp investment fraud warning.

According to the Brazilian Securities and Exchange Commission, FX Trading Corp is not licensed to offer securities in Brazil.

Within the context of MLM, a security is any MLM company offering a passive investment opportunity.

As per our FX Trading Corp review, the company offers investors a passive 500% ROI.

FX Trading Corp claims to generate ROI Revenue through cryptocurrency arbitrage. To date however the company has failed to provide any audited accounting.

FX Trading Corp represents that they are based out of South Korea, however it is believed to be run from within Brazil itself.

The Brazilian SEC warns that unless FX Trading Corp registers itself and starts filling legally required reports, it faces a $1000 ($244) daily fine.

Brazil is the second company to take regulatory action against FX Trading Corp. In February Spain issued a similar investment fraud warning.

At the time of publication Alexa estimates that 28% of traffic to FX Trading Corp’s website originates from Brazil.