The Cyprus Securities and Exchange Commission (CySEC) has issued a warning notice today against eight unlicensed platforms offering trading services with contracts for difference, cryptocurrency, and forex.
The blacklisted domain addresses are:
The market watchdog stressed that none of these domains belong to any regulated entities and are illegally offering brokerage services to the investors.
It also warned that if consumers lost their money on the platforms that are not licensed, they are not protected under the Investor Compensation Fund (ICF), which serves to protect the claims of covered clients and provide them with compensation in case a member could not meet its financial obligations.
CySEC is vigilant against illegal platforms operating in the market and using its name to gain investor’s trust. Previously, the watchdog also warned against illegal platforms that spun off from shuttered brokerages. Most of these platforms falsely claim to hold CIF licenses.
The fresh list was published only a week after the watchdog flagged seven other suspicious domains for duping investors with similar services and claims.