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.
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.