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Spain’s CNMV warns against IWC Investment

 

The Comision Nacional del Mercado de Valores (CNMV) has published a statement earlier this week, warning local investors against doing business with IWC Investment. This forex broker is not authorized to provide investment services or investment advice in Spain, the CNMV said.

 

Our check on IWC Investment’s website revealed that the broker has not disclosed any trading conditions whatsoever, but promises some monthly profits, which is highly unprofessional and typical of scammers. What is worse, IWC Investment claims it is authorized and regulated by The Danish Financial Services Authority, which however is not true. It seems that the forex broker tries to mislead investors that it is a legit firm and a part of the IWC group, while it is not associated in any way with it.

 

That is why the Spanish financial watchdog also warned traders not to confuse this forex broker with IWC INVESTMENT PARTNERS, a leading natural resources investment expert, which is duly authorized in Denmark, and therefore also in the EU and EEA.

 

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. In order to operate legally in the country, forex brokerages need a license by the CNMV itself or the relevant authorities of another EU member state.

 

TAGS: CNMV  IWC Investment  warning  Spain  scam  clone firm 
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