CNMV Exposes Unauthorised Binary Options Robot and FX Broker
- CNMV advises Spanish investors to check its registers before they deposit any fund with a broker.
The Comision Nacional del Mercado de Valores (CNMV), the financial regulatory body of Spain, today published a statement stating that it has added to its warning list two unregistered companies that are illegally conducting financial services targeting the country’s residents.
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The financial watchdog today blacklisted Binary Options Robots, which is currently operating through the website www.binaryoptionrobot.com. This website is a service for binary options traders that places trades into their accounts automatically, similar but not quite the same as copy trading in Forex Forex Foreign exchange or forex is the act of converting one nation’s currency into another nation’s currency (that possesses a different currency); for example, the converting of British Pounds into US Dollars, and vice versa. The exchange of currencies can be done over a physical counter, such as at a Bureau de Change, or over the internet via broker platforms, where currency speculation takes place, known as forex trading.The foreign exchange market, by its very nature, is the world’s largest tradi Foreign exchange or forex is the act of converting one nation’s currency into another nation’s currency (that possesses a different currency); for example, the converting of British Pounds into US Dollars, and vice versa. The exchange of currencies can be done over a physical counter, such as at a Bureau de Change, or over the internet via broker platforms, where currency speculation takes place, known as forex trading.The foreign exchange market, by its very nature, is the world’s largest tradi Read this Term. In copy trading, you choose a person to follow and copy his trades, but binary options robot is a program that literally takes over your account.
The FX and CFDs broker Alpha Group, operating as https://www.ialphagroup.com, was also added to the Spanish regulator’s caution list. The CNMV recommended in a statement that investors should avoid trading with both brands as they are not authorised to provide the investment services detailed in Article 140 of the Securities Markets Law, nor the auxiliary services.
Although the financial watchdog didn’t provide specific details, the inclusion of both entities means that they are not officially registered in Spain and are thus not authorized to offer trading services to local traders.
This is why the CNMV advises Spanish investors to check its registers before they deposit any fund with a broker, especially if the related broker used aggressive marketing techniques.
Earlier in March, the CNMV issued a circular setting a host of new rules regarding trading costs and risks disclosure, Leverage Leverage In financial trading, leverage is a loan supplied by a broker, which facilitates a trader in being able to control a relatively large amount of money with a significantly lesser initial investment. Leverage therefore allows traders to make a much greater return on investment compared to trading without any leverage. Traders seek to make a profit from movements in financial markets, such as stocks and currencies.Trading without any leverage would greatly diminish the potential rewards, so traders In financial trading, leverage is a loan supplied by a broker, which facilitates a trader in being able to control a relatively large amount of money with a significantly lesser initial investment. Leverage therefore allows traders to make a much greater return on investment compared to trading without any leverage. Traders seek to make a profit from movements in financial markets, such as stocks and currencies.Trading without any leverage would greatly diminish the potential rewards, so traders Read this Term and advertising requirements. In essence the new guidance concerns companies that offer forex, contracts for difference (CFDs) and other speculative products such as binary options among retail investors in Spain.
More specially, the CNMV notes that any broker offering ‘excessive leverage’ greater than 10:1 needs to explicitly warn investors that it believes that such products are not appropriate for retail investors due to their complexity and the risks involved.
The Comision Nacional del Mercado de Valores (CNMV), the financial regulatory body of Spain, today published a statement stating that it has added to its warning list two unregistered companies that are illegally conducting financial services targeting the country’s residents.
The London Summit 2017 is coming, get involved!
The financial watchdog today blacklisted Binary Options Robots, which is currently operating through the website www.binaryoptionrobot.com. This website is a service for binary options traders that places trades into their accounts automatically, similar but not quite the same as copy trading in Forex Forex Foreign exchange or forex is the act of converting one nation’s currency into another nation’s currency (that possesses a different currency); for example, the converting of British Pounds into US Dollars, and vice versa. The exchange of currencies can be done over a physical counter, such as at a Bureau de Change, or over the internet via broker platforms, where currency speculation takes place, known as forex trading.The foreign exchange market, by its very nature, is the world’s largest tradi Foreign exchange or forex is the act of converting one nation’s currency into another nation’s currency (that possesses a different currency); for example, the converting of British Pounds into US Dollars, and vice versa. The exchange of currencies can be done over a physical counter, such as at a Bureau de Change, or over the internet via broker platforms, where currency speculation takes place, known as forex trading.The foreign exchange market, by its very nature, is the world’s largest tradi Read this Term. In copy trading, you choose a person to follow and copy his trades, but binary options robot is a program that literally takes over your account.
The FX and CFDs broker Alpha Group, operating as https://www.ialphagroup.com, was also added to the Spanish regulator’s caution list. The CNMV recommended in a statement that investors should avoid trading with both brands as they are not authorised to provide the investment services detailed in Article 140 of the Securities Markets Law, nor the auxiliary services.
Although the financial watchdog didn’t provide specific details, the inclusion of both entities means that they are not officially registered in Spain and are thus not authorized to offer trading services to local traders.
This is why the CNMV advises Spanish investors to check its registers before they deposit any fund with a broker, especially if the related broker used aggressive marketing techniques.
Earlier in March, the CNMV issued a circular setting a host of new rules regarding trading costs and risks disclosure, Leverage Leverage In financial trading, leverage is a loan supplied by a broker, which facilitates a trader in being able to control a relatively large amount of money with a significantly lesser initial investment. Leverage therefore allows traders to make a much greater return on investment compared to trading without any leverage. Traders seek to make a profit from movements in financial markets, such as stocks and currencies.Trading without any leverage would greatly diminish the potential rewards, so traders In financial trading, leverage is a loan supplied by a broker, which facilitates a trader in being able to control a relatively large amount of money with a significantly lesser initial investment. Leverage therefore allows traders to make a much greater return on investment compared to trading without any leverage. Traders seek to make a profit from movements in financial markets, such as stocks and currencies.Trading without any leverage would greatly diminish the potential rewards, so traders Read this Term and advertising requirements. In essence the new guidance concerns companies that offer forex, contracts for difference (CFDs) and other speculative products such as binary options among retail investors in Spain.
More specially, the CNMV notes that any broker offering ‘excessive leverage’ greater than 10:1 needs to explicitly warn investors that it believes that such products are not appropriate for retail investors due to their complexity and the risks involved.