CySEC Sounds Regulation Alarm on 5 FX and Crypto Domains

​The Cyprus Securities and Exchange Commission has once again published a warning against unauthorized platforms, which are operating in the country without any licenses or are clones of legitimate platforms, simply trying to fraud investors.

The watchdog has blacklisted the following domains:

• theultimateforex.com

• megatradestation.com

• digi-coins.net

• fxglobaltraders.com

• cloudfxoptions.online

One of the blacklisted domains, fxglobaltraders.com, claimed that it is a global online forex broker regulated by CySEC and offers tightest spreads in the market through its innovative and user-friendly trading platform, based on the web.

The Cypriot watchdog inform investors that these websites, including fxglobaltraders.com do not belong to an entity which has been granted an authorization for the provision of investment services and/or the performance of investment activities, as provided for in Article 5 of Law 87 (I)/2017.

And CySEC urges investors to consult its website before conducting business with investment firms, in order to ascertain the entities which are licensed to provide investment services and/or investment activities.