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CySEC warns against 5 unregulated entities - VestleFX and "company"
Cyprus Securities and Exchange Commission, CySEC, issued a warning regarding several unregulated investment entities, including companies offering brokerage services on Forex market without the required licenses and permits. The inglorious group included, among others VestleFX or Edufintech.org.
CySEC warns against 5 entities
The following websites belong to entities that would have consent to provide investment services and / or conduct investment activities, in accordance with Art. 5 of Act 87 (I) / 2017:
- edufintech.org
- vestlefx.com
- powerfxm.com
- traderscodes.com
- ti-gi.com
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 - recently the regulator warned against fraudsters who pretended to be ... CySEC. The scam page was a very reliable 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of the regulator's website, but it had a different address (cysecgov.com), and the information contained therein was out of date (the latest news came from October 2020).
This was not the first time I tried to impersonate CySEC. In 2020, fraudsters pretending to be representatives of Cypriot supervision contacted investors in order to obtain funds under the pretext of settling non-existent compensation claims related to cooperation with companies under Cypriot supervision.
