CySEC Blacklists 16 Forex and Crypto Domains, Warns of BrokerCreditService Clones

The Cyprus Securities and Exchange Commission (CySEC) has published a warning that it has blacklisted 16 forex and crypto domains which do not belong to an entity having been granted by the commission an authorization for providing investment services and/or performing investment activities, as provided for in Article 5 of Law 87 (I)/2017.

The following websites were newly added to the CySEC blacklist:

· instantcryptoforextrades.com

· upshotfinance.biz

· global-vesco.ltd

· raphaelfxinvestment.com

· intlmc.com

· cointradefxpro.com

· coinstradingbit.com

· rfmcorp.co

· leadwayfinance.ltd

· wficorp.co

· maximumfinancetrade.com

· forex-earners.org

· ifmcorp.co

· alphabitfx.org

· fasttrade.ltd

· expert-earners.com

CySEC also warned that in the above mentioned websites, the name and license number of the Cyprus Investment Firm BrokerCreditService (Cyprus) Limited (License No. 048/04), is used illegally and without its authorization.

Since Cyprus became a European Union member state in 2004, CySEC regulations and operations have had to meet the European financial regulatory framework's terms. To exercise effective supervision, the regulatory body of Cyprus is continuously adding suspicious entities and websites to its blacklist. As Fazzaco​ has reported earlier, CySEC blacklisted in February an array of domains, including fxglobaltraders.com which claimed that it was a global online forex broker regulated by CySEC.