Do not invest more money than you can afford to lose.
The Spanish financial markets regulator CNMV has updated its warning list with the addition of four unregulated forex and binary options brokers.
In the list are included the binary options broker Titan Trade and the forex brokerages Grizzly Limited with two brands: MXTrade and TradingBanks, as well as BForex, FX-Boutique.
Titan Trade is a binary options broker that is well familiar to various regulators, including CONSOB, IFSC, BCSC, FMA, ASIC, and Denmark’s FSA. They all warn it is not regulated, but it continues to operate undisturbed.
Grizzly Limited with its brand TradingBanks has also been warned against: by Hong Kong’s, South Africa’s and Malta’s regulators, even though the broker says it does not accept European clients.
The other two brokers on CNMV’s list BForex and FX-Boutique are a first. BForex’s site displays a notice: “We’re sorry, but we are unable to serve clients, in your region at this time”, while FX-Boutique’s site does not load at all.
