WikiFX News: CySEC Expands The Warning List With Five More Unauthorized Brokerages

CySEC (Cyprus Securities and Exchange Commission) issued a warning today about five unlicensed investment businesses.

The following entities are mentioned in the warning:

• cidmacorp.com

• radixoptionfx.live

• brokercreditserviceltd.net

• hycmbot.com

• stockvalo.com

Recently, CySEC just added 6 unlicensed or unregulated brokers.

• octatradings-llc.com

• icmarkets.one

• ftxindex.com

• 360cointrade.com

• forexiqoptions.co.uk

• bitcointradepro.com

CySEC added these unlicensed brokers to its warning list in June.

• acmarketsfx.co - https://www.wikifx.com/en/dealer/2241796035.html

• agmmarkets.net - https://www.wikifx.com/en/dealer/7941238240.html

• easycapitaltrade.com - https://www.wikifx.com/en/dealer/1309119488.html

• smarttradesfx.online - https://www.wikifx.com/en/dealer/3339496547.html

• cloudminingfx.net - https://www.wikifx.com/en/dealer/3402025712.html

• trust-capital.ltd - https://www.wikifx.com/en/dealer/1292249699.html

• winicoin.com - https://www.wikifx.com/en/dealer/3355389952.html

• fxviewinvestment.com - https://www.wikifx.com/en/dealer/3040593362.html

• marketsocta.com - https://www.wikifx.com/en/dealer/3123036943.html

• colmex24.net - https://www.wikifx.com/en/dealer/3131668392.html

• tradingmasterclass77.com - https://www.wikifx.com/en/dealer/5132446362.html

The regulator observes that the websites listed above do not belong to a company that has been permitted the supply investment services and/or conduct investment activities, as specified in Article 5 of Law 87 (I)/2017.

Before doing business with investment companies, investors should examine CySEC's website (www.cysec.gov.cy) to determine whether businesses are licensed to offer investment services and/or investment activities.

The Commission has been updating the list of unlicensed entities on a regular basis. For example, in August, the regulator issued a warning about six unlawful brokerages.

CySEC issued a warning earlier in 2022 about persons impersonating its officials. The regulator has been told that individuals impersonating CySEC officers or representatives are recruiting investors for money in return for the settlement of false compensation claims relating to enterprises supervised by CySEC.

About CySEC

The Cyprus Securities and Exchange Commission (CySEC) was constituted as a public legal body in line with Section 5 of the Securities and Exchange Commission (Establishment and Responsibilities) Law of 2001. It is an independent public supervisory institution in charge of overseeing the investment services market, transferable securities transactions in the Republic of Cyprus, and the collective investment and asset management industry. It also oversees businesses that provide administrative services but are not regulated by ICPAC or the Cyprus Bar Association.

About WikiFX

WikiFX is a platform for searching worldwide corporate financial information. Its primary duty is to give the included foreign exchange trading organizations with basic information searching, regulatory license seeking, the credit assessment, platform identification, and other services.

Over 39,000 brokers, both licensed and unregistered, are listed on the network. WikiFX's staff has been hard at work with 30 financial authorities from across the world to verify that the information supplied is factual and correct.

Stay tuned for more Regulatory News.

Download the WikiFX App from the App Store or Google Play Store.