Austria FMA issues warning regarding offshore broker Best Stocks Trade
Austria financial regulator Finanzmarktaufsicht (FMA) has issued a warning regarding an entity called Best Stocks Trade, also known as Bstrade, operating from website bstrade.co.
Best Stocks Trade appears to be an offshore broker domiciled in St. Vincent and the Grenadines, offering trading in stocks and indices, CFDs, Forex and Commodities. The company is targeting several markets in Europe, primarily the English, Spanish, Italian and German speaking countries.
Bstrade.co, and its operator Florishing Group LLC, were recently added to a blacklist of the Italian regulator Commissione Nazionale per le Società e la Borsa (CONSOB).
The FMA added that this provider is not authorised to carry out banking transactions in Austria that require a licence. The provider is therefore neither permitted to trade on a commercial basis on its own account or on behalf of others.