CNMV Warns Against Four More Unregulated Brokerages

The Spanish regulator Comision Nacional del Mercado de Valores (CNMV) has issued warnings against unauthorized Online Trading Online Trading Online trading represents the trading of fiat currencies, digital currencies, commodities, stocks and indices, where traders and investors intend to make a profit, via the purchase or sale of the aforementioned products. This is done through an electronic network, made accessible by brokers in the form of an online trading platform or hub.Online trading continues to see a rapid growth year on year, due to a number of reasons. Firstly, the number of brokers offering their services, with more mone Online trading represents the trading of fiat currencies, digital currencies, commodities, stocks and indices, where traders and investors intend to make a profit, via the purchase or sale of the aforementioned products. This is done through an electronic network, made accessible by brokers in the form of an online trading platform or hub.Online trading continues to see a rapid growth year on year, due to a number of reasons. Firstly, the number of brokers offering their services, with more mone Read this Term companies. The companies are Neo Trade Global Investments Ltd., AI Operator Artificial Intelligence Finance, Bali Limited, and White Sea Limited.

The London Summit 2017 is coming, get involved!

[gptAdvertisement]

The CNMV accuses the named Forex Forex Foreign exchange or forex is the act of converting one nation’s currency into another nation’s currency (that possesses a different currency); for example, the converting of British Pounds into US Dollars, and vice versa. The exchange of currencies can be done over a physical counter, such as at a Bureau de Change, or over the internet via broker platforms, where currency speculation takes place, known as forex trading.The foreign exchange market, by its very nature, is the world’s largest tradi Foreign exchange or forex is the act of converting one nation’s currency into another nation’s currency (that possesses a different currency); for example, the converting of British Pounds into US Dollars, and vice versa. The exchange of currencies can be done over a physical counter, such as at a Bureau de Change, or over the internet via broker platforms, where currency speculation takes place, known as forex trading.The foreign exchange market, by its very nature, is the world’s largest tradi Read this Term and binary options trading companies of soliciting clients and/or providing them with financial services despite not being authorized. Consequently, the firms have been found in violation of the second paragraph of Article 17 of the Securities Markets Law.

Over the last few months, there have been a number of instances in which the Spanish regulatory authority warned traders of companies running illegal operations. In June, the CNMV released statements regarding Wing Pegasus S.L. and an individual identifying himself as D. Ricardo Cáscales Monge. The Spanish financial watchdog warned that the two are not authorized to offer financial services in Spain. Furthermore, Mr. Monge and Wing Pegasus S.L. seemed to be somehow affiliated, though the nature of the link between them has not been discussed.

In May, the CNMV added two more online trading firms to its blacklist - Binary Options Robots and the forex and CFDs broker Alpha Group. These have been operating while unlicensed and unregulated, as well. The Spanish regulatory body had advised traders against signing up and investing funds with these financial entities.

The CNMV has registers naming the brokerages that are authorized to offer financial services, and strongly advises traders to check them before dealing with a firm.