de | cn | ru

Market News

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
US CFTC, NFA MT4, Web,
in-house
$50 Review Website
Cyprus, UK, Belize CySec, FCA, IFSC MT4, MT5, Web $5 Review Website
Cyprus, Australia CySec, ASIC MT4, Web,
Mobile app
$100 Review Website
Australia ASIC MT4, MT5,
IRESSTrader
$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
Hong Kong SFC MarketSpeed FX,
Trading Station
$1 Review Website
Cyprus CySEC MT4, MT5, Web $1 Review Website
Belize IFSC MT4, MT5 $100 Review Website
Cyprus, South Africa, UAE CySec, FSCA, FSC MT4, MT5, Web $5 Review Website
Cyprus CySEC MT4, Web $25 Review Website
Cyprus, UK CySEC, FCA MT4, MT5 $1 Review Website

More Forex Market News

UK’ FCA updates warning list with MarketGBP, Capital-Traders, and FXTRADE777

Jan 17 2019 08:59:23

  The UK’s Financial Conduct Authority updated its warning list with unregulated forex brokers MarketGBP, Capital-Traders, and FXTRADE777 on Wednesday. According to the regulator, these brokers have been providing financial services or products in the UK without its authorization. Read more

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

Jan 16 2019 13:32:44

  The Cyprus Securities and Exchange Commission (‘CySEC’) issued a warning against unregulated brokers World Trust Invest, Eurotrade Investments, and CoinOptions Trade on Tuesday. Read more

BaFin orders Prestige FM / Euro Wealth OÜ to cease operations

Jan 15 2019 11:58:26

  The German Federal Financial Supervisory Authority (Bundesanstalt für Finanzdienstleistungsaufsicht – BaFin) has ordered Euro Wealth OÜ, operating Prestige Financial Markets brokerage brand, to cease offering illegal cross-border trading services to German investors. Read more

ASIC blacklisted unauthorized forex broker 4XFX

Jan 14 2019 14:27:06

  The Australian Securities and Investment Commission (ASIC) added unregulated forex broker 4XFX to its warning list previous week. Read more

ESMA calls for common approach on cryptocurrencies

Jan 10 2019 14:47:15

  The European Securities and Markets Authority (ESMA) has identified certain gaps and issues in the existing EU financial regulatory framework for cryptocurrencies and considers that further measures need to be taken in the sector to ensure investor protection. Read more

FCA added SafeMarkets to its warning list

Jan 04 2019 09:06:03

  The Financial Conduct Authority (FCA) in the UK added SafeMarkets to its long list of companies that illegally target British customers and offer financial services without a license. Read more

Abshire-Smith winds down UK operations due to the tough EU regulatory regime

Jan 02 2019 14:58:22

  A regulatory filing with the UK’s Companies House revealed that London-based forex and CFD brokerage Abshire-Smith is closing down its operations in the United Kingdom. Read more

CySEC statistics: After some records have been achieved in 2016 and 2017, what’s next?

Dec 31 2018 14:47:19

  According to data published by the Cyprus Securities and Exchange Commission (CySEC), the number of licensed forex brokers in the country peaked in 2017, while the largest trading and net income was reached in 2016. Read more

Bank of Russia suspends forex dealer licenses of Alpari, TeleTrade, TrustForex, and Forex Club

Dec 27 2018 14:32:18

  The Central Bank of Russia (CRB) announced it suspends the forex dealer licenses of Alpari, TeleTrade, TrustForex, and Forex Club due to violations of the Russian law. Read more

BaFin follows suit, restricts CFD trading permanently

Dec 21 2018 14:26:23

  Germany’s financial regulator BaFin plans to apply permanently ESMA’s CFD trading restrictions on a national level. The decision is intended as a protective measure for retail investors which will take effect in 2019. Read more

de | cn | ru