logo |


    Home   >     Industry    >     Main body

    CySEC Updates: warnings regarding unregulated FX, CFD and crypto brokerages.

    Abstract:The Cyprus Securities and Exchange Commission (CySEC) on Thurday published a set of warnings regarding unregulated FX, CFD and crypto brokerages.

      The Cyprus Securities and Exchange Commission (CySEC) on Thurday published a set of warnings regarding unregulated FX, CFD and crypto brokerages.

      The warnings target the following entities:

    •   capitalmarketcorp.com

    •   admiralecn.net

    •   thegoldcapitals.com

    •   alphacapitaltrade.com

    •   magnasale.org

    •   brocprime.net

      CySEC informs investors that the above-mentioned websites do not belong to an entity which has been granted an authorization for the provision of investment services and/or the performance of investment activities, as provided for in Article 5 of Law 87 (I)/2017. The regulator advises investors to consult its website (www.cysec.gov.cy), before conducting business with investment firms, in order to ascertain the entities which are licensed to provide investment services and/or investment activities.

      Let‘s note that CySEC has recently warned against an impostor website. The fake website is hosted in India is set up as an imposter of CySEC’s main site.

      The imposter website, cysecgov.com, is a scam which for whatever reason is only showing CySEC news bulletins through to October 2020.

      This is not the first time that CySEC has had to deal with imposters or impersonators. Last year that individuals claiming to be CySEC officers or appointed representatives were soliciting investors for fees, in exchange for settlement of bogus compensation claims related to conduct of business with a number of firms under CySECs supervision.

      - END -

      More news, stay tuned on WikiFX. Now you can review more than 30,000 Forex & CFDs brokers with just one click, quickly and easily!

    Risk Warning

    The Database of WikiFX comes from the official regulatory authorities , such as the FCA, ASIC, etc. The published content is also based on fairness, objectivity and fact. WikiFX doesn't ask for PR fees, advertising fees, ranking fees, data cleaning fees and other illogical fees. WikiFX will do its utmost to maintain the consistency and synchronization of database with authoritative data sources such as regulatory authorities, but does not guarantee the data to be up to date consistently.

    Given the complexity of forex industry, some brokers are issued legal licenses by cheating regulation institutes. If the data published by WikiFX are not in accordance with the fact, please click 'Complaints 'and 'Correction' to inform us. We will check immediately and release the results.

    Foreign exchange, precious metals and over-the-counter (OTC) contracts are leveraged products, which have high risks and may lead to losses of your investment principal. Please invest rationally.

    Special Note, the content of the Wikifx site is for information purposes only and should not be construed as investment advice. The Forex broker is chosen by the client. The client understands and takes into account all risks arising with Forex trading is not relevant with WikiFX, the client should bear full responsibility for their consequences.