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CySEC adds 5 entities to the "black list". Be careful!
Cyprus Securities and Exchange Commission, CySEC, has listed 5 entities that offer brokerage services on the list of public notices Forex market and cryptocurrencies without the required licenses and permits. Most sites remain active all the time, and some scammers claim on their sites that they are regulated by regulators, which is not true. Stay vigilant!
Watch out for these Forex scams
The websites listed below offer the opportunity to invest in currencies, stocks, cryptocurrencies and commodities. However, all indications are that these are "typical scams" that are intended only to extort funds from unaware investors. None of the following entities is licensed to provide investment services and / or conduct investment activities, in accordance with Art. 5 of Act 87 (I) / 2017.
- cidmacorp.com (entity claims to be licensed by CySEC, which is not true),
- radixoptionfx.live (page currently inactive),
- brokercreditserviceltd.net,
- hycmbot.com,
- stockvalo.com (entity claims to be licensed by CySEC, which is not true).
Deliberate misleading using false license numbers or using data of legally operating companies, offering trading via popular platforms (such as MetaTrader 4), or offering very favorable trading conditions on popular instruments. These are just some of the techniques used by fraudsters. Always verify your trading partners!
MyChargeBack.com is an American company specializing in the recovery of funds extorted by unreliable companies and "scams" pretending to be honest Forex brokers, binary options brokers and cryptocurrency projects. If you've been scammed, there's a good chance that MyChargeBack.com will be able to help you!
Verify the broker before opening an account!
Cypriot supervision reminds that before starting cooperation with investment firms, the best way to verify the legality of their activity is to check the licenses and permits on the websites of regulators. In the case of CySEC, this can be done on the website www.cysec.gov.cy. However, you need to be vigilant also here - the Cypriot regulator warns against fraudsters who pretended to be ... CySEC. The scam page was a very credible copy of the regulator's website, but it had a different address (cysecgov.com), and the information contained therein was out of date (the latest news came from October 2020).
