The Ministry of Commerce and Industry has called on those concerned to ‘beware of ‘forex’ trading advertisements saying it is one of the high-risk systems that the Central Bank of Kuwait warned against dealing with.
In an awareness tweet posted on its official account on Twitter, the ministry said these advertisements exploit the images of some celebrities for marketing, attracting customers and urging them to trade through unauthorized fake platforms under attractive titles, reports a local Arabic daily.
The ministry explained that ‘Forex’ is a decentralized global market that works through various means of communication to exchange currencies and take advantage of price differences in buying and selling operations, stressing that it is a high-risk system that the Central Bank of Kuwait has warned against dealing with.