Allianz Market on the KNF's list of warnings

Today Polish Financial Supervision Authority announced that Allianz Market, which operates via the website www.allianzmarket.com, has been added to the list of warnings. We warn you against using the services of this company. Details below.

Allianz Market on the list of warnings

On August 30, 2021, the list of public warnings was enlarged by a new position - Allianz Market Ltd .. It is impossible to say where (or whether at all) this entity is registered, because its website does not contain any address details (it does not provide them also the KNF in its announcement). The only form of possible contact is an e-mail, contact form or telephone with the area code from ... Warsaw.

Allianz Market is by no means a "new" scam on the Polish market. It has been around for a while, offering an "investment" in ETFs, cryptocurrencies, commodities, stocks and also Forex. On the website, we see that the "broker" provides access to leverage 1: 400 and over 200 instruments, and somewhere in the background is the popular MetaTrader 4. The first signals about the activity of fraudsters appeared in 2020, and in January 2021, even a topic on Forex Club forum "praising" this entity (check the discussion). We strongly advise against using the services of this entity. Additionally, we advise you to be cautious when reading reviews on the web - only in the last few days Forex Club editors have managed to block nearly 20 comments trying to present Allianz Market in a positive light.

The KNF announcement states that the reason is the notification concerning the suspicion of committing a crime under Art. 178 in connection with joke. 69 sec. 1 and sec. 2 point 2, 3 of the Act on Trading in Financial Instruments, i.e. conducting activities in the field of trading in financial instruments without the required permit or authorization. The proceedings were initiated by the KNF Office and the case is being conducted by the District Prosecutor's Office in Warsaw.

Allianz Market entry on the KNF's list of public warnings. Source: KNF.gov.pl

We warn against using the services of unlicensed companies. Before opening an account, always make sure it is correct the broker has the appropriate regulations and permits at the indicated financial market supervisory institution.