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UMarkets, My Safe Market and Trading Graphs on the KNF's list of warnings
Today, the PFSA's public list of warnings has been expanded to include three items - UMarkets, My Safe Market and Trading Graphs.
UMarkets, My Safe Market, and Trading Graphs
Do Universal Markets headquartered in Beachmont, Kingstown, Saint Vincent and the Grenadines, three sites are:
- www.umarkets.io/pl,
- www.umarkets.com.
- www.umarketspro.com.
On each of them, the broker offers access to Forex market i CFDs. The websites are in Polish, and the offer is to be made through Sirix platform. The information on the pages is extremely rudimentary, which should already sharpen our vigilance.
In the case of a company My Safe Market with headquarters in Ajeltake Island, Majuro, Republic of the Marshall Islands MH 96960, website www.mysafemarket.com, which appears in the KNF announcement, is no longer available. Nevertheless, it is possible that in some time we will not see another variety, which is an extremely popular activity in the case of "scams".
We know the least about the third position - the investment platform Trading Graphs (TradingGraphs.com). The message itself does not provide the company's address, and it is not visible on the platform's website. Interestingly, the site does not suggest that direct access to Forex trading is offered. This may indicate "hidden" side activities carried out by this site.
For each entity, the reason for including on the KNF's warning list is the same - the lack of appropriate licenses to conduct brokerage activities for Polish clients.
In the message PFSA we read:
"Notification of suspicion of committing an offense under Art. 178 of the Act on Trading in Financial Instruments (conducting business in the field of trading in financial instruments without the required permit or authorization). "
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We warn against using the services of unlicensed companies. Before opening an account, always make sure that the broker has the appropriate regulations and permits from the indicated institution supervising the financial market.
