Dutch AFM warns customers of Grinta Invest unable to access funds
The Authority for the Financial Markets (AFM) of the Netherlands today issued a warning regarding Grinta Invest. The reason for the warning is that clients of the brokerage, which lacks a license, have not been able to access their accounts and funds for nearly a month.
Dutch consumers are offered to trade through Grinta Invest in highly risky financial instruments, including Forex and CFDs. Grinta Invest does not have a license from the AFM or another European regulator and therefore provides its services illegally.
Grinta Invest uses the website www.grinta-invest.com. In addition, Grinta Invest uses Dutch financial influencers and websites. These receive a fee if they promote trading with Grinta and actively recruit customers, for example via Instagram.
Since October 28, 2021, the website of Grinta Invest has been down and the AFM has received notifications from Dutch customers of Grinta Invest that they can no longer access their investment accounts at the firm. With this warning, the AFM wants to prevent or limit (further) damage to Dutch consumers.
The AFM calls on consumers to first check financial services providers in its registers and also not to respond to offers that sound too good to be true.