Not The Onion…
On the week when The Dow crossed above 21,000 amid multi-year highs in retail equity inflows, none other than Mike Tyson reminded us with a tweet of how these runs always end.
Launched last year, Mike Tyson’s retail brokerage firm Trade12.com allows up to 400x leverage on FX, commodities and futures on stocks… and don’t worry there are plenty of education tools.
What could go wrong?
Well judging from the ‘small print’ on the website – plenty…
Trade12 is owned and operated by UK Company Global Fin Services Limited (Reg. No: 09836699) operation address Tomimae 5, Tallinn 10145, Estonia.
Global Fin Services Limited is a subsidiary of Exo Capital Markets Limited (Reg. No: 68798) located at Ajeltake Road, Trust Company Complex, MH 96960, Ajeltake Island – Majuro, Marshall Islands.
With Rep. office in Riga, Maskavas iela 224 – 69. Regulated by Eyar Financial Corp Limited (Company No: 014641), Republic of Vanuatu.
Trade12 do not solicit and accept clients from USA and France.
So to summarize, Tyson’s brokerage is domicled in Estonia, regulated by Vanuatu, andnot available to Americans.
Did Mike Tyson just ring the bell?
This post originally appeared on Zero Hedge