The Spanish financial regulator, the National Securities Market Commission (CNMV), has issued a cautionary announcement concerning six organizations that are not officially authorized, including ‘Pepper Stone Ltd’ and ‘PRIMUS FX’.
The platforms are running nine websites without permission.
The Spanish financial regulatory body has identified 7 unauthorized websites.
These include:
- Pepper Stone Ltd (pepperstoneld.com)
- PRIMUS FX (primusfx.net)
- WIRRERIUM LLC (exteom.com/en/).
The other 4 are all operated by FORZATRADE:
- forzatrade.io
- forzatrade.net
- forzatrade.org
- forzatrade.world.
Also:
- ITRADES FX LTD (itradersfx.com)
- Lionmarket.live.
CNMV explained:
The CNMV makes it clear that these companies are not registered in the corresponding registry of this Commission and, therefore, are not authorized to provide investment services or other activities subject to the supervision of the CNMV.
Pepper Stone Ltd and PRIMUS FX seem to be knock-offs of Pepperstone and FXPRIMUS, two highly-respected multi-regulated brokerages.
Pepperstone is under the supervision of numerous government agencies such as those in:
- Australia.
- Bahamas.
- UK.
- Germany.
- Kenya.
- Dubai
While FXPRIMUS is regulated by:
- The Vanuatu Financial Services Commission.
- CySEC (Cyprus Securities and Exchange Commission).
Last month, the Spanish financial regulator issued a warning about multiple organizations that are giving financial services to consumers without authorization.
Examples of these entities are:
- Morgan Finance
- OneCapital Invest
- Invinco
- Theta Investments
- Shadlake
- Trade Coin
- Trade Nation
- Millenium Operations.
However, the regulator didn’t mention if ‘Pepper Stone Ltd’ and ‘PRIMUS FX’ are related to more well-known brokers.
Read more: Warning about Fake Dukascopy Clone Website | Brokers Times
