Cyprus financial regulator CySEC has ramped up its war against unlicensed and offshore retail FX brokers which falsely claim to be either based in the island EU nation, or to be licensed by CySEC, or both.

CySEC said it wishes to inform 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.
 otpfx.com
 AllFXtradings.com
 en-n.com
 bhc.international
 bbgroupfx.com
 acronisfx.com

A quick perusal of the websites shows that all the aforementioned websites falsely claim to have a CySEC license (plus others from other countries), with some listing legitimate CIF license numbers of legitimate brokers, and some either omitting their license number (which should always be a dead giveaway to potential clients that the license doesn’t exist), or giving a non-existant one.

The regulator urges investors to consult its website at 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.