Spain’s CNMV warns is not authorized

Spain’s CNMV warns is not authorized

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Spain’s financial regulatory body, the Comision Nacional del Mercado de Valores (CNMV), issued on Monday a warning agains the operator of forex trading website for providing investment services without being registered.

The regulator warned that the website is not authorized to provide in the country investment of auxiliary services, including investment advice on forex trading,

The Spanish regulator maintains a register with investment companies that are authorized to operate in Spain. In order to operate lawfully, companies need to obtain a license by the local relevant authorities or the authorities of any other EU member state.

Currently, the website is not operational and no information about the website operator was immediately available.

Under the EU regulatory framework, brokers licensed by the relevant authority in any EU country are entitled to provide services in all countries of the European Economic Area (EEA). In most countries, however, they need to be registered with the local regulatory body.

We strongly advise you to only deal with regulated forex brokers, authorized by reputable regulatory bodies like CySec, FCA, and CFTC/NFA, among others.

Source: CNMV

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