BaFin Issues Warning Against Unauthorized Financial Entity HandelEU

The Federal Financial Supervisory Authority (BaFin) warns against offers from the allegedly Frankfurt-based HandelEU. According to information available to BaFin, the company offers banking transactions and financial services on its website handeleu.com without authorization. Consumers are allegedly able to trade cryptocurrencies, shares and commodities there.

The imprint of the website gives the impression that HandelEU is licensed by BaFin. This is false, the watchdog notes. BaFin does not supervise the entity.

Anyone conducting banking business or providing financial, investment or payment services in Germany may do so only with authorization from BaFin. However, some companies offer these services without the necessary authorization. Information on whether a particular company has been granted authorization by BaFin can be found in BaFin’s database of companies.