MetaStocks on the KNF's list of warnings

Polish Financial Supervision Authority announced the addition to the list of warnings of the entity Wellbe NB Aliance LLC, based in Saint Vincent and the Grenadines, which operates through the platforms www.metastocks.org and www.metastocks.in. We warn you against using the services of this company. Details below.

MetaStocks (?) On the list of warnings

On August 3, 2021, the list of public warnings "gained" a new position. Welllbe NB Aliance LLC is a company registered in the far Caribbean Sea. Interestingly, on two domains belonging to it, i.e. www.metastocks.org and www.metastocks.in, which with their names more or less deliberately refer to popular software Metastock, we will not find a "broker" offer as is the case with most scams from recent years. Both sites are practically copies of each other, but only one detail differs - the .org domain is intended for Forex market, a .in for "Financial markets".

But since the aforementioned company is not a broker but offers trading platforms, why is it on the list of warnings? The KNF announcement only states that the reason is the notification concerning the suspicion of committing a crime under Art. 178 in connection with joke. 69 sec. 1 and sec. 2 point 2, 3 of the Act on Trading in Financial Instruments, i.e. conducting activities in the field of trading in financial instruments without the required permit or authorization. The proceedings were initiated by the KNF Office and the case is being conducted by the District Prosecutor's Office in Warsaw.

MetaStocks entry on the KNF's list of public warnings. Source: KNF.gov.pl

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.