Unauthorized Crypto Broker Margex Continues To Grow In The U.S.
The Spanish regulator CNMV issued a warning against crypto derivatives broker Margex. The unauthorized offshore broker offers leverage of up to 100:1, which is significantly higher than the maximum leverage of 30:1 allowed by ESMA. Margex is active on Twitter, YouTube, and Facebook and deploys an aggressive affiliate and referral system to chase new clients. According to the latest statistics, the broker receives most of its traffic from clients in the U.S.