The Polish Financial Supervision Authority adds Forex Network and Universe to the list of warnings

On February 15, 2024 Polish Financial Supervision Authority announced that four entities had been added to the list of public warnings. These are: Universe (https://universe.co.com/), Forex Network (two companies) and PRV Jakub Kołtuniak. Details below.

Universe and Forex Network on warning list

The KNF's public warning list is a collection of entities that violate Polish law regarding banking and investment activities. As a rule, these are ordinary fraudsters who operate illegally, without appropriate consents and licenses, and their only goal is to extort funds from unaware investors. These are also companies that have violated the provisions of Polish law in terms of their activities, e.g. in terms of advertising, information contained on the website and more.

This time, the Polish regulator included 4 entities on the list. Universe is an investment platform offering its services under the domain universe.co.com. However, it can be safely assumed that it operates illegally, because despite being registered in Ireland, it does not have any licenses or permits, and the range of instruments offered is wide. On the website you will find offers regarding the Forex market and cryptocurrencies, as well as bonds, ETFs and shares.

Subject Forex Network was included on the list twice (two different companies). According to information that can be found on the Internet, it is a marketing company that dealt with the so-called "calling" clients from databases obtained in various ways, presumably on behalf of foreign Forex brokers. The first disturbing signals about the company's activities date back to 2017 (source: gowork.pl).

The last entity, i.e. PRV Jakub Kołtuniak, is a company operating in the field of investment consulting and loans.

The KNF warns against:

• PRV Jakub Kołtuniak
• Universe – activities conducted, among others, via the website https://universe.co.com/
• Forex Network sp. z o. o. (currently NXF sp. z o. o.)
• Forex Network sp. z o. o. sp. k. (currently NXF sp. z o. o. sp. k.)

Stay alert!

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.