CySEC warns of BrokerCreditService license clones
Cyprus financial regulator CySEC has issued a notice warning investors that a number of 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.
The list of unauthorized websites includes:
instantcryptoforextrades.com
upshotfinance.biz
global-vesco.ltd
raphaelfxinvestment.com
intlmc.com
cointradefxpro.com
coinstradingbit.com
rfmcorp.co
leadwayfinance.ltd
wficorp.co
maximumfinancetrade.com
forex-earners.org
ifmcorp.co
alphabitfx.org
fasttrade.ltd
expert-earners.com
CySEC noted that in the above mentioned websites, the name and license number of the Cyprus Investment Firm BrokerCreditService (Cyprus) Limited (License No. 048/04), is used illegally and without its authorization.
BrokerCreditService is the CySEC licensed arm of Russian retail banking and brokerage firm BCS Financial Group, controlled by Russian businessman Oleg Mikhasenko. The company provides DMA equity and derivatives brokerage services on RTS (Russia), MICEX (Russia) and LSE (UK) as well as on major world exchanges (AMEX, NASDAQ, NYSE, CME/CBOT, Eurex, Euronext, LIFFE, XETRA).