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Spain’s CNMV warns of two unregulated forex brokers

 

Spain’s financial markets regulator, the CNMV, has issued warnings against two unregulated companies: MEDIA GC LIMITED (TRADEGC), and MEDIA CLIENT SERVICE, S.L.

 

According to the public notice, neither the brokers, nor their parent companies are listed in the respective registers of the commission. Therefore, they are not authorized to provide financial services or auxiliary services in Spain.

 

We could not find the website of MEDIA CLIENT SERVICE, S.L., but according to CNMV’s notice, it is headquartered in Marbella, town in southern Spain, and is managed by Simo Alfassy.

 

On the other hand, our check of MEDIA GC LIMITED operating from mediagcltd.com website revealed that the broker is registered offshore, in St. Vincent & The Grenadines. Trade GC offers trading in currency pairs and various CFDs, including on cryptocurrencies via the popular MetaTrader 4 platform. It obviously targets traders form European countries, as its website is available in English, Spanish, Portuguese and French

 

We strongly advise our readers to avoid offshore brokers and choose a properly regulated and reliable ones instead. If you are searching for a broker legally operating in Spain, you may find a list of such here

 

TAGS: CNMV  Spain  warning 
Broker Country Regulation Platform Min Deposit Review
Cyprus, UK, Belize CySec, FCA, IFSC MT4, MT5, Web $5 Review Website
Cyprus, Australia CySec, ASIC MT4, Web,
Mobile app
$100 Review Website
UK, Cyprus, Hong Kong FCA, CySEC, SFC MT4, Web,
PrimeTrader
$100 Review Website
UK, Cyprus, Australia FCA, CySec, ASIC MT4, MT5 $5 Review Website
UK, Australia FCA, ASIC MT4, Trading
Station,
NinjaTrader
$50 Review Website
UK, Cyprus, UAE, South Africa FCA, CySEC, DFSA, FSB MT4, MT5, FxPro
Markets,
cTrader
$100 Review Website
Cyprus CySEC MT4, MT5, Web $1 Review Website
Belize IFSC MT4, MT5 $100 Review Website
Cyprus, South Africa CySec, FSCA, FSC MT4, MT5, Web $5 Review Website
UK, Singapore, Australia FCA, MAS, ASIC MT4, AT Pro,
Advantage Web
£100 Review Website
Seychelles FinaCom MT4, Web $10 Review Website

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