BaFIN - Three brokers targeted by German supervision

BaFIN, the German supervisory body of the local financial market, issued a warning to three financial service providers (Forex, CFD, binary options) without the required licenses and permits. Companies named BP1 LP, Pairs Ltd. and Gum ltd. they were called to cease further operations in Germany immediately.

List of BaFIN warnings

BP1 LP - Star Option

The entity operating at www.sternoptions.com offers intermediation in trading CFDs on currencies, indices, commodities, stocks and cryptocurrencies. The offer also includes binary options, which as of July 1 this year. have been banned in the European Union. The broker informs on its website that its seat is in Great Britain.

Pairs Ltd. - Weiss Finance

A company operating under two names, which also brokers CFDs on popular instruments - from currencies, through stocks and commodities, to cryptocurrencies. There are a lot of ambiguities - the address of the registered office indicates the Marshall Islands, the place of registration - Estonia, and the address of the operating office - Bulgaria.

Gum Ltd. - Stern Markets

A broker offering trading primarily on CFD instruments - stocks, currencies, indices, cryptocurrencies - which operates at www.sternmarkets.com. On the website you will find contact numbers for Scotland, England, Germany and Austria. Meanwhile, the company's headquarters are in Bulgaria.

Note:

When choosing a broker, we recommend that you check its regulations, including the license number on the official financial supervision website, and review the lists of public warnings.