CySEC adds AgeFX, The Best Trader, others to warning list
The Cyprus Securities and Exchange Commission (CySEC) today warned investors against a raft of unregulated entities that target the public.
The regulator informs investors that the following 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.
- agefx.io
- goldstein-invest.com
- capital-partnersonline.com
- top-epargne.info
- thebestrader.io
- cryptosworld.trade
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.
These websites belong to entities that offer investment services (Forex, crypto, CFD trading) without having the necessary permission to do so. Some even claim to be regulated by abusing the license and name data of companies that are regulated.
CySEC has been updating its warning list on a regular basis, and fraudulent FX schemes seem to be rather frequent. In March, for instance, the Cypriot regulator warned of unlicensed FX brokers OTPFX and AllFxTradings.