The Cyprus Securities and Exchange Commission (CySEC) today issued a warning against a number of firms that provide investment services without having the necessary license.

The warning list includes the following entities:

• fundednowprop.com
• fiat-global.com & platform.fiatfxtrade.com
• buxmapps.com
• actaswiss.com
• trader-trust.eu
• fpmhelenic.com & client.clients-area.com/register
• wallstreet-fx.io
• fidelitycfd.com & wt.fidelitycfd.com
• vstarsoho.net
• alfacapitalmarket.com
• forexelite.co & forexelite.trade/private

The regulator notes 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.

CySEC urges 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.

Last month, CySEC significantly expanded its warning list. Let’s note that some of the entries in the warning list are the so-called “clones”, which typically abuse the data of authorised firms. In reality, the clone firms have nothing to do with the authorised firms.