Spain's CNMV Warns Against Unauthorized Clone Broker Websites

Spain's National Securities Market Commission (CNMV) has issued a warning against three online trading brands offering unauthorized investment services. The regulator named tarillium.com, value-markets.com, and ig-indexlimited.com as entities not appearing in its official registry, making their operations illegal.

The CNMV specifically highlighted ig-indexlimited.com as a clone-style operation, stressing it has no connection to the legitimately registered Spanish investment firm Indexa Capital A.V., S.A. This warning is part of a broader regulatory crackdown on unlicensed brokers and clone firms.

The action occurs against a backdrop of stricter EU and national rules on high-risk products like CFDs. These rules, initially introduced by ESMA, include leverage caps and standardized risk warnings, which Spain has enforced with particular rigor.

In recent years, the CNMV has implemented tough marketing restrictions, including a de facto ban on CFD advertising to the public and limits on sponsorships promoting leveraged trading. The regulator urges investors to verify a firm's registration status on its official website before committing any funds.