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CNMV warns against Exilon Markets, and numerous brands of Game Capital Ads

Aug 27 2019
By
Jonathan Smith

 

The Comision Nacional del Mercado de Valores (CNMV) warned against Exilon Markets, BeAlgo, CapitalFXclub, numerous brands of Game Capital Ads, and several other unregulated entities. These brokers are not authorized to provide investment services or investment advice in Spain, the CNMV said.

 

Exilon Markets obviously targets Spanish-speaking investors, as its website is only available in Spanish. It is owned by Exilontrade Ltd., a company registered offshore which is not allowed to provide financial services and advise in Spain, nor the EU or another heavily regulated market.

 

Spain’s financial regulator also flagged a number of brands, operated by one and the same company -  Game Capital Ads Limited - Btcglobefx, CapitalBTCfx, CryptoClubFX FirstFXClub,  gameBTCFX, and ProCapitalFX.

 

This firm has become quite notorious in the online trading world, and most of its brokerage brands are already present in the warning lists of one or several European financial regulators. Furthermore, the websites of many of the above-listed brokers have similar or identical lay-outs, trading conditions, platforms, etc. Actually, most of these brands offer trading on a MetaTrader4 platform provided by West Media Group – a company flagged by the Italian financial regulator CONSOB.

 

Forexbrokerz.com has included detailed reviews on most of those fraudulent websites, which are involved in a seral scam scheme, and actually more brands of Game Capital Ads -  SmartBTCfx, 247smartfx, FirstBTCfx, SmartProFX, and more.

 

Some of the other brokers blacklisted by the CNMV today include Bulgaria-based BeAlgo, and CapitalFXclub – a broker that is allegedly owned by PRO CAPITAL LTD. However, we suspect that it is actually run by the same people behind Game Capital Ads Limited, as its the website is almost identical to that of some of the brokerage brands of the notorious firm. 

 

The CNMV regularly issues warnings against unregulated brokers targeting local investors and also maintains a register with investment companies that are authorized to operate in Spain. Earlier this month the Spanish regulator issued warnings against EurTrades, Trade100, and Key Markets.

 

TAGS: CNMV  warning. Exilon Markets  BeAlgo  CapitalFXclub  Btcglobefx  CapitalBTCfx  CryptoClubFX  FirstFXClub  gameBTCFX  and ProCapitalFX  Game Capital Ads  scam  Spain 
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