Unsupervised FOREX market

[NewsWhore]

Three Mexican citizens have formed a company of financial analysts that is seeking clients willing to invest US$30,000 in exchange for monthly returns of 2% on the international foreign exchange (FOREX) market. Clave reports that this is happening without government supervision or regulation. The international FOREX market moves more than 1.3 trillion dollars every day, without any centralized regulation. The brokers firm established in the Dominican Republic, Adnum, acts as an intermediary between clients to whom they offer high returns and foreign financial institutions that specialize in speculating with foreign exchange in the global market. Odnum is seeking clients willing to invest, or rather risk (specifies Clave), a minimum of US$30,000 to create an investment portfolio. It began operating this year and has been offering clients 12% to 24% interest annually on their investments in US dollars, when the rate in the local banking system is only 3.1% average for the first seven months of this year, and the short term rate of the US Federal Reserve Bank is 5.25%. The international FOREX market is considered highly speculative and is currently unregulated in the Dominican Republic.

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