Barclay Stone added to KNF public warnings

On November 17, 2022 Polish Financial Supervision Authority added to "Blacklist" another entity that investors should be wary of. It is Barclay Stone Ltd based in Saint Lucia operating via an online platform Barclay Stone available on three different websites, i.e.: www.br-stone.net/pl, www.br-stone.online/pl and www.trade.br-stone.club). Business illegally provides brokerage services in the CFD market. Details below.

Watch out for Barclay Stone

Subject Barclay Stone has been entered on the list of warnings due to the notification under Art. 178 in connection with joke. 69 sec. 2 points 2 and 3 of the Act on Trading in Financial Instruments. The reason is offering brokerage services in trading in financial instruments without having the appropriate permissions. The notification is sent by the KNF Office, and the case is handled by the District Prosecutor's Office in Warsaw.

The broker's websites are available in three language versions - English, Russian and ... Polish. And this is probably something that caught the attention of the KNF. Without the appropriate permissions, the company offers trading on all popular types of instruments, i.e. on currencies, stock indices, cryptocurrencies, commodities and shares, and the alleged trade is to take place via the popular MetaTrader 5 platform. Let's not delude ourselves, however, that these would be real transactions.

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.