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CySEC warns against World Trust Invest, Eurotrade Investments, and CoinOptions Trade

 

The Cyprus Securities and Exchange Commission (‘CySEC’) issued a warning against unregulated brokers World Trust Invest, Eurotrade Investments, and CoinOptions Trade on Tuesday. According to the regulator, the brokerage brands and their websites are not operated by Cypriot Investment Firms, authorized to provide investment services in the country.

 

World Trust Invest (WTI) is obviously a Russian forex and CFD broker, as its website www.worldtrustinvest.com is available only a Russian language. It uses the UTIP platform and provides an address in Switzerland. Nonetheless, the broker claims to be operated by WTI Capital Holdings (Cyprus) Limited, a company allegedly regulated by the CySEC, which, of course, is not true.

 

Eurotrade Investments, on the other hand, seems to target Spanish-speaking investors, and allegedly has offices in Spain, USA and Hong Kong. The broker has not clarified any of its trading conditions, nor even the platform it uses, but claims to be licensed by CySEC. Actually, Eurotrade Investments uses the name of Cypriot Investment Firm (CIF) Eurotrade Investments RGB LTD, which operates Eurotrader (CY) brokerage brand. Eurotrade Investments falsely claims to be associated with the legit CIF firm and www.eurotradeinvestmentsrgb.com domain is not in the list of websites approved by CySEC.

 

As regards CoinOptions Trade, it claims to be a private investment firm providing asset management services, including Bitcoin Mining Program, Cryptocurrency trading, exchange and crypto assets management, as well as some more “traditional” trading in forex and binary options. 

 

This provider also claims to be regulated by the Cyprus Securities and Exchange Commission (CYSEC) and has even uploaded an authorization by the latter on its website, which is obviously forged. Actually, CoinOptions Trade uses the number of A-Conversio Capital Ltd., a legit CIF.

 

The Cypriot financial watchdog urges investors to be particularly cautious before conducting business with any investment company and always check whether it is duly licensed. Forex brokers authorized by CySEC have to abide by a number of rules, which provide significant assurance for the security of clients’ funds.

 

TAGS: CySEC  World Trust Invest  Eurotrade Investments  CoinOptions Trade  warning  scam  Cyprus  regulation 
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