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Cysec Issues Warning Against Five Unregistered FX and Crypto Platforms

Source: AtoZMarket
The Cyprus Securities and Exchange Commission (CySEC) recently issued a warning against five unregistered FX and Crypto Platforms.
CySEC has a history of whipping trading platforms that do not adhere to its strict guidelines. Today, CySEC has issued new warnings for five FX and crypto platforms. Moreover, those entity has not licensed to provide FX or Crypto services.
CySEC said that some of these companies are based in other countries but have fake addresses in Cyprus to lure the public. Moreover, the regulator has warned such companies and is committed to taking further steps for companies based in Cyprus. The regulator also stated:
CySEC Warning List of Unregistered FX and Crypto Platforms
The regulator has blacklisted the following domains:
24bitx.com
  • Address: 1 Safi Street ,Porto Bello BLD,3042,Limassol ,Cyprus.
  • Email: info@24bitx.com
growthandlegacyukfx.com
  • Address: 25 Canada square canary wharf London, e14 5lb UK
  • Phone : +357 22 000132
www.apollotradexcoexcurrency.com
  • Address: 10 Kyriakou Matsi Avenue, Liliana Building, 2nd floor, office 203, 1082, Agios Omologites, Nicosia, Cyprus
  • Phone: +39 0287167309, +1-800 836 1235
  • Email: support@apollotradexcoexcurrency.com
concept4x.com
  • Address: 8 Copthall Roseau Valley 00152, Commonwealth of Dominica
  • Email: support@concept4x.com
  • Phone: +35722000648
www.CMliveExperts.com
CMliveExperts offer FX and Crypto trading services. According to its website, it also said, “With our Next Generation platform, we’re always looking for new ways to deliver financial opportunity no matter how you define it.”
Broker of the month
The regulator also urges “investors to consult its website, before conducting business with investment firms, to ascertain the entities which are licensed to provide investment services and/or investment activities.”
CySEC also hopes to strengthen its oversight of FX and crypto by integrating EU anti-money laundering rules into Cyprus legislation. Last month, CySEC published a consultation paper on the protection of customer funds held by a CIF. The regulator also offered several ways to enhance existing procedures.

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