CNMV | FinTelegram News

Category: CNMV

December 4, 2023

Spanish CNMV Warns Against Broker Scam BTRADE!

The Spanish regulator CNMV has issued a warning against the broker scam BTRADE, allegedly operated through WSYM Technology LLC, registered in St. Vincent & The Grenadines. Potential victims may lose their money via credit/debit cards with the stated payment processor Praxis not working. Apparently, the business relationship has been terminated. Stay far away!

November 14, 2023

Spanish Financial Watchdog Warns Against Broker Scam ThorFX!

The Spanish Financial Market Authority CNMV has issued a warning against the broker ThorFX. The broker is supposedly operated via the Marshall Islands (which are still not submerged in the ocean). Customers can make deposits via cryptocurrencies as well as buy cryptocurrencies via credit/debit card. Stay far away. Protect your money and your private data.

November 13, 2023

Attention: Another Regulatory Warning Against Broker Scam Tools4Deals!

A few weeks ago, we issued a warning against the black-listed broker scam Tools4Deals. The Dutch regulator AMF has the broker on its warning list. Today, the Spanish regulator CNMV has also issued a warning against the scam. The payment agent for credit/debit cards is Admirra, which is registered in the UK. Stay away, protect your financial health and your data.

October 31, 2023

Warning Against Corny Solutions LLC And Their Broker Scam AlfaTrade!

In January 2022, Corny Solutions LLC was established in St. Vincent & The Grenadines. This offshore company is officially the operator of scams like ApricusFX or AlfaTrade. On October 30, 2023, the Spanish regulator CNMV issued a warning against AlfaTrade and Corny Solutions. Stay far away and protect your money and private data. In our review today, it seemed that AlfaTrade is about to disappear with money stolen from its victims.

October 12, 2023

Attention: Spanish Watchdog Warned Against TradeCMF Broker Scam!

TradeCMF is one of dozens of white-label broker scams active on the Internet at any time. They usually have a short lifespan and disappear after a few months with their victims' money. TradeCMF is allegedly operated by CMF Group Ltd, which is registered in the Marshall Islands. Potential victims can lose their money via bank deposits, credit/debit cards, and e-wallets. The Spanish regulator CNMV has issued a warning. Stay far away.

October 12, 2023

Urgent Warning Against the Trade Tech Broker Scam Facilitated By MoonPay!

The Spanish regulator CNMV has warned against the broker scam Trade Tech. It is allegedly operated by Zermatt Group LLC, registered in St. Vincent & The Grenadines. Potential victims can lose their money via credit/debit card deposit or via crypto. As a payment processor, we have once again discovered MoonPay, via which potential victims buy their cryptos using credit/debit cards. Stay far away and protect your money!

September 14, 2023

Attention: Spanish Watchdog Warns Against CFTC-Regulated NinjaTrader

The Spanish financial regulator CNMV has warned against the broker scheme NinjaTrader. NinjaTrader Group and its legal entities operate this broker and the Infinity Futures brand. NinjaTrader Group holds CFTC registrations as an Introducing Broker and futures commission merchant. However, the scheme does not have regulatory permission to operate in EEA jurisdictions. You should, therefore, be cautious as an EEA resident.

August 1, 2023

Another Regulatory Warning Against Vanished FinexTrader Broker Scam!

FinTelegram has warned several times about the Latvian Racket, a cybercrime organization attacking consumers with broker scams and boiler rooms. One of these scams is FinexTrader, against which several financial regulators have issued warnings over the last two years. Recently, the Spanish CNMV. In our review on 1 August 2023, the scam's website was not accessible. It seems the scammers vanished with their victims' money.

July 25, 2023

Urgent Warning Against EuroxtradeFX Broker Scam Facilitated By Cardeta!

The Spanish regulator CNMV has issued a warning against EuroxtradeFX, which is allegedly operated through a legal entity in St. Vincent & The Grenadines. We have not found this company. EuroxtradeFX also falsely claims to be a member of the Financial Commission, a dispute resolution organization. As a supporting payment processor for credit/debit card deposits, we have once again found Cardeta. Stay far away and protect your financial health.

July 12, 2023

Attention: Warning Against ELV Markets Broker Scam Focused On LATAM!

The Spanish regulator CNMV has warned against the ELV Markets broker scam. According to the website, the operators are Elvmarkets Ltd, registered in St. Vincent & The Grenadines, and ELV Markets Ltd, registered in the Marshall Islands. Potential victims can lose their money via cryptocurrency deposits. ELV Markets seems to be primarily focused on the LATAM markets. More detailed information about the operators is, of course missing. Stay far away and protect your money.

July 12, 2023

CNMV Follows FinTelegram And Warns Against Londonex Broker Scam!

We previously reported in April 2022 on the upcoming launch of Londonex, an offshore broker then registered in St. Vincent & The Grenadines. In the meantime, the broker, which clearly qualifies as a scam, is allegedly operated by two entities in Saint Lucia. Earlier this week, the Spanish regulator CNMV issued warnings against Londonex, a/k/a LonMarkets. Stay far away, protect your financial health and their private data.

July 10, 2023

Urgent Warning Against Crypto-Powered Multi-Asset Broker PrimeBit!

In April 2021, the Spanish regulator CNMV warned against the crypto-based trading platform PrimeBit, allegedly operated by PrimeBit Ltd, registered in St. Vincent and the Grenadines. In essence, PrimeBit is just another unauthorized multi-asset broker that accepts deposits only in cryptos and offers a leverage of 1:200. PrimeBit has no regulatory permission to do so. We consider Primebit a scam and have put it on our black compliance list. Stay away!