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Abstract:he Spanish National Securities Market Commission (CNMV) has issued warnings about these unauthorized brokers. The following is a list:
The National Securities Market Commission (CNMV) is the Spanish government organization in charge of the financial regulation of the Spanish securities markets. Financial rules and activities are in accordance with the European MiFID Financial Harmonization Law. To offer financial services and products, forex brokers must be licensed by the CNMV.
The Spanish National Securities Market Commission (CNMV) has issued warnings about these unauthorized brokers. The following is a list:
1. Novelis Capital
Website: https://novelis.capital/
2. Spartan Trade
Website: https://spartan-trade.com/
Client Reactions
According to CNMV, all of the firms that were warned were not permitted to offer investment services.
Before trading with a broker, traders should verify their licenses. Investors' money cannot be safeguarded by regulators or laws if there is no regulation. If you leave your money with shady brokers, you may never see it again.
How to avoid these scam brokers?
WikiFX is a forex trading search website that offers users broker information. It lists over 38,000 brokers, both licensed and unregistered. This software may deter traders from using unregulated brokers. Furthermore, it provides the most significant information while searching for the correct broker, which is the state of regulation.
WikiFX's database is sourced from official regulatory bodies such as the FCA, ASIC, and others. The published information is also fair, objective, and factual. WikiFX does not charge public relations fees, advertising costs, ranking fees, data cleaning fees, or any other unreasonable expenses. WikiFX will do everything possible to keep its database consistent and synchronized with reliable data sources such as regulatory bodies, but it cannot promise that the data will always be up to date.
Exercising your ability to utilize the Wiki App can help you avoid unanticipated events and keep your money safe.
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Disclaimer:
The views in this article only represent the author's personal views, and do not constitute investment advice on this platform. This platform does not guarantee the accuracy, completeness and timeliness of the information in the article, and will not be liable for any loss caused by the use of or reliance on the information in the article.
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