CySEC Issues Update to Earlier Warning on Unauthorised Brokerages

The Cyprus Securities and Exchange Commission (CySEC CySEC The Cyprus Securities and Exchange Commission (CySEC) is a financial regulatory authority of Cyprus. CySEC is one of the key watchdog authorities for brokerages in Europe, whose financial regulations and operations comply with the European MiFID financial harmonization law.Founded in 2001, CySEC is instrumental in providing licensing and registration for forex brokers and previously binary options providers.CySEC is responsible for a variety of different functions, which includes the supervision The Cyprus Securities and Exchange Commission (CySEC) is a financial regulatory authority of Cyprus. CySEC is one of the key watchdog authorities for brokerages in Europe, whose financial regulations and operations comply with the European MiFID financial harmonization law.Founded in 2001, CySEC is instrumental in providing licensing and registration for forex brokers and previously binary options providers.CySEC is responsible for a variety of different functions, which includes the supervision Read this Term), one of the leading regulators for the European retail 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 CFDs trading industry, today updated a warning which was published on 13th December 2016 and features over 100 unauthorised websites currently in operation and offering their services to the public without being owned or operated by Cyprus Investment Firms (CIFs) and therefore not authorised by CySEC to provide investment services.

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In today’s update CySEC informed investors that the following 4 domains were inadvertently included in the annex of the original announcement and have now been removed: www.aaafx.com, www.zulutrade.com, www.admiralmarkets.com and www.yesfx.com.cy

CySEC has once again reminded investors to be duly cautious and to consult its website in order to check the lists of approved and unapproved investment firms domains prior to conducting any business with them.

As an independent public supervisory authority responsible for the supervision of the investment services market and transactions in transferable securities carried out in Cyprus, CySEC's mission is to exercise effective supervision to ensure investor protection and the healthy development of the securities market.

Regular advisories and updates such as today's announcement serve to shield the public from the hands of unscrupulous outfits.