Vortex Assets goes to the list of KNF warnings

Vortex Assets - Black Parrot Limited based in the Marshall Islands is another entity this year that is included in the list of public warnings of the Polish Financial Supervision Authority.

The KNF harvest is under way

Vortex Assets on the KNF's list of warnings

The aforementioned broker was placed on the infamous list because it operated in the country without proper registration. Vortex Assets got a lot of attention earlier this year. It was then that the eponymous company launched a "marketing campaign" by making calls not-your customers from the purchased (from an unknown source) database. There were voices from traders who claimed that the same actions were taken as in the case of the famous Alpha Finex (the owner was stopped by the police while trying to escape the country), which also stayed entered on the list of KNF warnings in December 2016. Aggressive marketing, proposals for "some extra deals" and investing in "debuts" finally had to get the attention of the Commission. At the moment, the Vortex website in Polish is still active, but the new law allows the PFSA to apply for a complete blocking of access from Poland to the websites of entities included in the list of warnings.

Be sure to read: Why (not) invest in company debuts with Forex brokers

The new law passes the exam

You have to objectively admit that a new law regarding the Polish Forex marketwhich entered into force at the end of April this year. brings the expected results. Its task was, above all, to put an end to the Eldorada of foreign, unregulated and unethical entities, which preyed on inexperienced and unaware investors. Dozens of phone calls a week from "international investment companies" were a bane that hit not only traders but also the entire Forex industry, tarnishing its opinion.

The editors of the Forex Club also observed positive changes. The number of phones has been reduced from about ten a week to a maximum of one in two weeks. And from a company that calls from outside Poland. It can therefore be boldly stated that the effects are highly satisfactory. Is it possible to conclude that we have rid ourselves of unethical brokers for good?

A full list of public warnings can be found on the site Polish Financial Supervision Authority.