Spain's National Securities Market Commission (CNMV) has issued fresh warnings about eight financial companies promoting investment services without proper registration. These firms lack authorization from the CNMV to operate in Spain legally.
Spain's CNMV Flags 8 Unregistered Forex and CFD Entities
The CNMV stated that the companies mentioned in the latest warning are not registered in Spain to provide financial services or investment activities. Under local regulations, firms must register with the market watchdog before legally operating in the country.
The following companies were named in the CNMV warning:
- fame-traders.com (Fame Traders)
- globefx.io (Globe Fx)
- protrade24.net (Protrade24)
- tradingero.es (Tradingero)
- assetivax.com (Assetivax)
- aifmd.info, aifmd.xyz (Aifmd)
- smart-limited-group.com (Smart Limited Group)
- capitalmgmgroup.com, capitalmgm.com (Capitalmgm)
The above list includes a mix of companies offering access to trading platforms and automated bots aimed at FX and cryptocurrency investors.
The Spanish regulator is among the most active in the European market in informing about illegally operating entities. In recent months, it has warned about clones of popular investment firms and drawn attention to the unlicensed activity of companies in the forex and contracts for difference (CFD) sector.
In the most recent move, it warned against Linq Capital, a broker that had been under European regulators' scrutiny several months ago. The German BaFin, among others, had warned about its activities in February.
Spain recently expanded its restrictions on the marketing , distribution, and sales of CFDs, banning practices aimed at retail clients and the general public. European authorities deemed these measures justified and proportionate, aiming to enhance investor protection in the face of aggressive advertising campaigns by some brokers.
