Germany's BaFin Launches Investigation Against RXK Management

BaFin, Germany's Federal Financial Supervisory Authority, yesterday announced that it has launched an investigation into RXK Management Ltd, as the platform is conducting banking business and providing financial services without authorization in this country. 

According to the regulator, providers of banking or financial services in Germany require a permit under the KWG. However, some companies act without the required permission. RXK Management is not supervised by BaFin. 

RXK Management's website, rxkcapital.com, claims that RXK Capital is a Forex & CFDs brokerage and is therefore authorised to onboard traders throughout various jurisdictions in the world. Whether you're an experienced trader or someone who is just starting out, the company's pricing, platform, deep liquidity, and levels of customer care will give you the edge when it comes to trading the markets. 

BaFin recommends that anyone seeking to invest money online should exercise the utmost caution and do the necessary research beforehand in order to avoid becoming the victim of fraud.

Recently, BaFin launched a block of investigation against entities offering financial business without authorization in Germany. These entities include Ethereal Group LLC and StakeFX Markets Ltd, Seychelles.