CySEC issues a new set of warnings against unregulated brokerages
The Cyprus Securities and Exchange Commission (CySEC) today warned investors against a number of unregulated entities that target the public.
The latest set of warnings target the following websites:
- lhk-group.com
- garafi.com
- alfacapital24.com
- btmarkets.io
- netradefx.com
The regulator notes that these websites do not belong to an entity holding an operating license for the provision of investment services and / or the exercise of investment activities, as provided in Article 5 of law L. 87 (I) / 2017. The CySEC urges the investing public to refer to its website (www.cysec.gov.cy) before engaging with investment services companies, to make sure that the entities are licensed to provide investment services and / or carry out investment activities.
CySEC has been updating its warning list on a regular basis, and fraudulent FX schemes seem to be rather frequent. Earlier in May, CySEC warned against six unregulated investment firms that target investors without having the necessary license to do so. Back then, the regulator added AgeFX and The Best Trader to the warning list.