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Spain's CNMV warned against unregulated forex broker InvestMib

 

Spain's financial markets regulator, CNMV, has warned of forex broker InvestMib earlier this week. According to the official notice on CNMV’s website, this entity is not registered in the corresponding registry of the commission and, therefore, are not authorized to provide investment services.

 

As for InvestMib, it offers trading in forex and CFDs on the MetaTrader 5 platform .The broker does not provide much information on the company that owns it, but it appears to be registered offshore, in Vanuatu. As most of you probably know, offshore jurisdictions have very few and lax requirements for forex brokers, if any at all. That is why investing in such companies carries significant risk, not to mention that many of them are pure scams. So, it is always safer to deal with financial services providers that are properly licensed (by UK’s FCA, or Cyprus’ CySEC, for example).

 

Meanwhile, Spain's financial markets regulator, CNMV, regularly issues warnings against unregulated forex and binary options brokers. Earlier this month the commission warned against Finodax, T.W. CAPITAL LTD, and LIONSBIT.COM, among others. Actually, we have recently covered the offering of Finodax and it seems really dubous. Its website lacks any information whatsoever on the company behind it and its trading conditions.

 

Investors can always check whether a certain company is present in the regulator’s warning list. In addition, there is a search engine available at the CNMV website.

 

TAGS: CNMV  InvestMib  Finodax  warning  scam  Spain   

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