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ECN Capital goes to CySEC's list of warnings

ECN Capital goes to CySEC's list of warnings

created Paweł MosionekNovember 22 2018

The Cyprus Securities and Exchange Commission, CySEC, announced that a new entity, ECN Capital, was placed on the public list of warnings. The reason is that he does not have any licenses entitling him to provide financial services.

Years "ECN"Nor "Capital"

How can we read in the message of the Cypriot regulator:

  • Website www.ecncapital.com (ECN Capital) claims that it does not belong to the entity that has been authorized to provide investment services and / or perform investment activities, in accordance with art. 5 Act No. 87 (I) / 2017.
  • There are references on the above website that indicate that it is related to Moslok Ltd, whose headquarters are at 84 Spyros Kyprianou, 4004 Limassol, Cyprus.

The broker's home page has a very simple structure and we will not find much information on it - it mainly redirects us to fill out the registration form. However, deeper we can find the offer that the company offers to clients.

The minimum deposit begins with 5000 $. What would probably attract potential customers are deposit bonuses (prohibited by CySEC and ESMA regulations), transactional signals, a wide range of available transaction platforms and instruments.

We warn against using the services of unlicensed companies. Before you open an account always make sure whether a given broker has appropriate regulations and permits from the indicated financial market supervision institution.

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About the Author
Paweł Mosionek
An active trader on the Forex market since 2006. Editor of the Forex Nawigator portal and editor-in-chief and co-creator of the ForexClub.pl website. Speaker at the "Focus on Forex" conference at the Warsaw School of Economics, "NetVision" at the Gdańsk University of Technology and "Financial Intelligence" at the University of Gdańsk. Twice winner of "Junior Trader" - investment game for students organized by DM XTB. Addicted to travel, motorbikes and parachuting.