简体中文
繁體中文
English
Pусский
日本語
ภาษาไทย
Tiếng Việt
Bahasa Indonesia
Español
हिन्दी
Filippiiniläinen
Français
Deutsch
Português
Türkçe
한국어
العربية
Abstract:The German financial regulator, BaFin, has issued a cautionary warning regarding the dangers of offshore brokers operating within the country's CFDs sector. BaFin has specifically flagged "Kingdom Investments", claiming that the company is running an illegal business without proper authorization and offering German customers CFDs that expose them to FX and cryptocurrency instruments.
The German financial regulator, BaFin, has issued a cautionary warning regarding the dangers of offshore brokers operating within the country's CFDs sector. BaFin has specifically flagged “Kingdom Investments”, claiming that the company is running an illegal business without proper authorization and offering German customers CFDs that expose them to FX and cryptocurrency instruments.
BaFin suspects that Kingdom Investments is a suspicious company as it uses the details of a regulated platform to deceive the public, giving the impression that it is legitimate in Germany. The company goes even further by claiming on its website to offer risk-free trading with powerful strategies. BaFin disputes the company's claimed locations in the United States and Malta.
On the other hand,
WikiFX, a medium platform of 30 financial authorities worldwide, discovered that the broker Kingdom Investment is not regulated or authorized by any financial authority.
The regulator urges citizens to exercise caution and follow due verification processes, including checking the company's identity and establishment location. BaFin is also keeping a close eye on social media, where it has issued guidelines for potential investors to be wary of promises of excessive returns. In response to the rise of unregulated trading signals on online forums, BaFin has warned against traders using flashy social media profiles to trick inexperienced persons into thinking they can quickly make large profits through online trading.
BaFin warns that these traders do not have the necessary qualifications or accreditation to offer these services and their advice can be inaccurate and carry significant risks. The watchdog is working to keep up with the growth of the crypto market and inform retail investors of the potential risks involved.
Stay informed on the latest news by downloading the WikiFX App on your smartphone.
Download link: https://www.wikifx.com/en/download.html?source=fma3
Disclaimer:
The views in this article only represent the author's personal views, and do not constitute investment advice on this platform. This platform does not guarantee the accuracy, completeness and timeliness of the information in the article, and will not be liable for any loss caused by the use of or reliance on the information in the article.
eToro collaborates with X to offer live and on-demand financial education, enhancing investment knowledge through videos, posts, and Spaces.
JustMarkets, a well-known broker, recently turned twelve. To mark this occasion, the broker has revealed several amazing features to improve customer comfort and efficiency while trading.
The UK Financial Conduct Authority (FCA) has announced the cancellation of the authorization granted to Global 4X Limited as an authorized payment institution (API). This decision comes after a thorough review revealed that the firm no longer meets the necessary conditions for holding such authorization.
Taiwan has established an industry association for its cryptocurrency sector, guided by the government, to enhance oversight and implement self-regulatory guidelines for virtual asset service providers.