Spain’s CNMV warns of unauthorized,,,

Spain’s CNMV warns of unauthorized,,,


Forex broker Solidary Markets FX (SMFX), and binary options brokers FB-One (, Stockscall (, ST Capitals ( are neither registered, nor authorized to provide financial services in Spain, the country’s financial regulatory body, the Comision Nacional del Mercado de Valores (CNMV), said on Monday in separate notices.

The entities are not authorized to provide in Spain investment or auxiliary services, forex trading included, the regulator noted. Neither of them provides on their websites information concerning regulation or authorization.


SMFX does business via The brand is owned by Solidary Markets NZ Ltd., which claims to be based in New Zealand, but not included in the country’s Financial Service Provider Register (FSPR).

“Solidary Markets NZ is a Financial Services Provider but outside the policy framework of the Financial Act 2008 so it does not require us to stay in the Register of FSP for companies that provide services within New Zealand,” the company states on its website.

However, you should note that under the New Zealand regulatory framework, providers of financial services need to be registered in the FSPR in order to receive authorization to provide services in the country. If a company is included in the FSPR, it is not necessarily licensed or regulated in New Zealand but it is required to be registered if it wants to operate in the country.


FB-One says it is a brand of London-based Global Intex Services Ltd. No such company is licensed by the UK Financial Conduct Authority (FCA). The broker offers a trading platform for binary options on currencies, raw materials, stocks, commodities, and indices. It promises returns on investment of up to 75% – 85% if the option is in-the-money.

Stockscall and ST Capitals

Stockscall is operated by Bali Limited Ltd. and ST Capitals is a brand of LMM Marketing Solutions Ltd. Both are binary option brokers that claim to be based in the Bulgarian capital city of Sofia and their websites look nearly identical. The companies provide no information regarding authorization.

Stockscall’s product portfolio consists of more than 250 tradable assets with a return on investment of up to 90% and ST Capitals offers more than 50 tradable assets with a return on investment of up to 89%.

Earlier this year, the CNMV issued a warning against SFKK Trading Solutions, trading as ST Capitals.

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

When engaging with unauthorized and non-regulated brokers traders are putting their investments at higher risk. We strongly advise you to only deal with regulated forex brokers, authorized by reputable regulatory bodies like CySec, FCA, and CFTC/NFA, among others.

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