Finally! German BaFin prohibits offshore activities of CySEC-regulated BDSwiss Markets!

FCA bans BDSwiss Group
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Swiss Markets and BDSwiss are registered trademarks of BDSwiss Holding Ltd, regulated by the Cyprus CySEC with license number 199/13. BDS Markets is part of the BDSwiss Group. The company is regulated by the Financial Services Commission (FSC) in Mauritius with License Number C116016172. The German BaFin issued a statement, saying that the offshore broker BDS Markets has no permission to offer ist regulated services in Germany. Currently, CySEC-regulated BDSwiss is no longer accepting new clients.

FinTelegram reported that in August 2021, the UK FCA ordered BDSwiss Holding Plc and other members of the BDSwiss Group to stop offering high-risk contracts for differences (CFDs) to UK investors. The BDSwiss Group trades using the brands BDSwiss, Swissmarkets, and BDS Trading.

The BDSwiss Group also runs BDS Ltd in Seychelles, regulated by the Financial Services Authority Seychelles (FSAS). Like other CySEC-regulated firms, BDSwiss uses its offshore entities to acquire European clients while circumventing regulatory requirements. Please read our reports on IC Markets (here) and OctaFX (here), for example.

The fact that no new clients can register at the moment indicates that there may be an investigation by CySEC.

BaFin clarifies that the company BDS Markets, 6th Floor, Tower 1, Nexteracom Building, 72201 Ebène, Mauritius, is not licensed under the German Banking Act to conduct banking business or provide financial services. The company trades as BDSwiss Markets, the German regulator found. Providers of banking business or financial services in Germany require a regulatory permit, which BDS Markets does not have.


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