CySEC warns against nine unregulated brokerages
The Cyprus Securities and Exchange Commission (CySEC) today issued a warning against nine unregulated brokers.
The list of entities targeted by the warning includes:
- nylsinv.com
- primusforex.net
- tfimarkets24.com
- afexeu.com
- protechfx.com
- forextimeltd.com
- jfdtrade.net
- ltdexxovo.com
- ico-assets.com
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.
CySEC regularly updates its list of unauthorized brokers. In April, for instance, the regulator added eight websites of firms offering investment services illegally to its warning list.