CNMV Warning List Regarding Fraudulent Brokers For February

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Action Markets is an offshore broker from the Marshall Islands. Since the respective regulator, GLOFSA, isn’t strict or reliable, this financial swindler has the freedom to pose as legit.

The Spanish CNMV begs to differ though. We found Action Markets on the warning list, which means that the broker hasn’t got the necessary permit to provide services in Spain or Europe for that matter.

This bogus website looks unfinished. There are a lot of full of broken links and no information about the legal background of Crybit.

Since the legal documentation is missing, the CNMV deemed this site a scamming platform. It’s not a real trading broker.

Upon entering the website, we saw a red tab telling us we have only six minutes left to register due to high demand. Honestly, we found it funny but the CNMV wasn’t having it.

The Spanish watchdog issued a clear warning against this fraudulent website with no owner or address. It’s just a platform meant to scam traders and investors.

Enerix Invest is an anonymous website with no address or owner. Therefore, any business with this alleged broker is extremely risky.

It’s definitely not a regulated provider. Just look at the leverage, it’s above the ESMA limit of 1:30. Since the CNMV adheres to ESMA rules, the same applies in Spain.

No address, no owner mentioned and a UK code phone number. Some favorable spreads are advertised on the home page but we know nothing about the leverage, trading platform, commissions, etc.

Since this broker is anonymous, it could technically disappear at any moment with your funds and you’d be left without compensation. That’s why the CNMV put Europe Markets on its blacklist.

EverriseBrokers allegedly offers CFD and crypto trading. The broker claims to be based in Switzerland, Europe’s probably most strict jurisdiction.

With this anonymous scam broker, you certainly won’t be winning anything. On the contrary, you’ll lose your funds. This bogus entity is a clone of the real FX Winning.

Half of the website is broken. The legal documentation is in Spanish but do you know what else is? Client complaints we found on Trustpilot. They probably alerted the CNMV to issue a warning against this fraud.

Crypto scam platform! MFT Trade isn’t a real broker. As mentioned, the leverage cap in Spain, which belongs to the EEA zone and is under the jurisdiction of ESMA, is 1:30 for retail clients, even less for crypto trading.

MFT Trade offers above 1:100, which just shows you how incompetent this scammer really is. Not to mention the lack of a license or transparency.

Swizz-Pro, yet another fraudulent broker that lied about being regulated in Estonia. The fraud really thought it could fly under the radar of the CNMV.

While BingX may be a popular crypto exchange, it’s not authorized to operate in Spain. The entity seemingly does have a permit in the US, Lithuania, Canada and Australia, but not in Spain.

Thus, the CNMV issued a warning to traders to be careful with BingX. There’ve been some complaints on Trustpilot as well. Crypto isn’t that well-regulated in the country either, leaving a lot of room for fraud.

Yes, the Austrian financial watchdog has issued a warning against this entity. The Spanish CNMV did the same thing, which means that BTX Group is a con site.

Capital Biz is not a reliable and legit broker. It offers a rudimental browser-based WebTrader and “0.0 pips” for trading. However, in the Account Types section, the story is different.

For example, the Bronze account offers leverage of up to 1:100 (illegal in Spain), a spread of 3 pips and 4.5 $ commissions. That’s suicide for your trading career. The CNMV was right to warn traders about this fraud.

Here’s another entry on the list from the Marshall Islands. CMX Markets is an offshore broker with a dubious offer. You could easily be scammed by this entity.

As mentioned, the Marshall Islands’ GLOFSA isn’t up to par with the CNMV in terms of regulations and security. CMX Markets can’t just go around Europe without adhering to ESMA protocols.

Yet another fraudulent broker that offers illegal trading conditions. Foreplay, and its owner Elysian Group LLC, aren’t authorized to provide services in Spain.

They aren’t following ESMA rules for leverage since we found that Foreplay offers up to 1:200. Therefore, the CNMV blacklist got a new entry.

Kiexo states that it’s the trading name of Kiexo LLC, registered with the Financial Services Authority of Saint Vincent and the Grenadines. Thus, it’s an offshore operator. 

Given Kiexo’s background, any investments related to this suspicious website are at risk. The broker is unlicensed for Forex trading since SVG’s FSA doesn’t issue FX licenses. Trustpilot is full of fuming complaints against the broker as well as fake 5-star reviews.

There’s no demo account, so we couldn’t check this. Nevertheless, Trustpilot users complained about being scammed by MilleniumOne so the CNMV issued a warning against the broker.

Leverage north of 1:30 and welcome bonuses. That’s all the CNMV had to see to know how fraudulent this broker really is. 

For instance, bonuses are banned in the EEA zone since scammers always attach shady clauses to them, thus preventing clients from withdrawing funds. As for the leverage, the ESMA limit is 1:30, and NYXTrade offers from 1:100 to 1:500.

First of all, this financial swindler lied about being registered with CySEC, the regulator of Cyprus. We checked the database of CySEC and found nothing on SGG Invest. Secondly, if the Maurities address is real, then SGG Invest is just another offshore provider. 

The CNMV certainly didn’t authorize the broker to provide services onshore, hence the warning against it. There’s no way SGG Invest could have a legit license while offering leverage of 1:100 and beyond.

ACA Invest, a broker from Singapore? The Monetary Authority of Singapore has no such entity in its database. Therefore, the address is fake.

The rest of the bogus website is lacking key legal and trading facts. We found out that the leverage goes up to 1:100. Remember that the legal limit in ESMA-regulated states is 1:30. Spain is one of them.

The fraudulent broker claims to have an office in Anaheim, California. False! Every US-based broker must be registered with the US National Futures Association (NFA). 

Unsurprisingly, the NFA has nothing on Tomex Options. This is nothing but an online investment scam and the Spanish CNMV put it on the blacklist.

Trading Club is an offshore crypto trading platform. The entity comes from Saint Vincent and the Grenadines to spread fake promises of overnight wealth for those willing to invest.

The fraudulent provider certainly isn’t authorized to operate on European soil, especially not in Spain. The CNMV assures traders that Trading Club is a crypto investment scam.

Do any of these names sound familiar to you? If you’ve been defrauded by any of them, it’s really important that you report the scam to the CNMV.

The Spanish regulator is pretty active in catching online scams. Direct complaints or Trustpilot reviews will surely grab the watchdog’s attention.

As for your lost money, Global Fraud Protection is here to help you get it back. Whether you’ve paid using credit cards, wire transfers or cryptocurrencies, it doesn’t matter because our experts can deal with everything.

They specialize in bank chargebacks, recalls and crypto-tracing methods using cutting-edge software such as CipherTrace. Book your free consultation today to find out about the next step.

The post CNMV Warning List Regarding Fraudulent Brokers For February appeared first on Global Fraud Protection.


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