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IDM warns about five investment websites
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IDM warns about five investment websites

created Paweł MosionekAugust 23 2017

IDM, or the Chamber of Brokerage Houses, sent a letter to UOKiK warning about the activity conducted by four investment entities without appropriate licenses. In the infamous group there is one Forex broker and one binary option broker.

Cleaning the market continues

In a letter sent to the Office of Competition and Consumer Protection, IDM lists the names and websites of suspicious entities which, in their opinion, offer financial services (mainly investments with a high and even "guaranteed" rate of return) to Polish residents. Below are the websites of these companies:

  • inwestycjedlaciebie.pl,
  • walletmagazine.pl - redirecting to the site inwestycjedlaciebie.pl,
  • doradca-inwestora.pl,
  • exbino.com (binary options broker),
  • ustader.com (Forex broker).

The first three sites are currently inactive (just one day after the IDM message), from which the advisor - investor.com website has been completely erased.

In the IDM list you can read:

"These entities on their websites encourage the user to invest in the financial market by offering a guarantee of earning and above-average profits, without informing about the risk related to investments. In the summary, we also present an example of companies - "marketing entities" - which accept deposits - cash payments from Polish clients probably without the required legal authorization ".

In addition, IDM informs that in addition to the lack of required permits, companies do not specify important issues on their websites, such as how to store customer funds. In addition, the regulations are packed with unfavorable provisions and imprecise wording for customers.

In the current situation, it can be seen that it is not only the Polish Financial Supervision Authority that is interested in the very quick and effective cleansing of the financial market (in particular the market for the provision of brokerage services) from illegally operating entities. In fact, they significantly harm the image of the industry and lead to the introduction of increasingly stringent regulatory provisions by government institutions. There is not exactly a month in which the KNF does not inform us about entering new entities related to the Forex industry to the list of warnings.

The full text of the IDM magazine

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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.
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