The latest regulatory warning in the online trading space comes today from the Nicosia-based Cyprus Securities and Exchange Commission ,
CySEC, which has just released a circular warning investors that FX TRIDENT 365 LTD, www.tridentfx.com is not permitted to provide investment and ancillary services in Cyprus, as per the press release from the Cypriot regulator .
The finding are on the basis of local applicable financial market regulations, under the Investment Services and Activities and Regulated Markets Law, which cited how FX Trident 365 LTD has never been authorized by CySEC and is not a bank or cooperative firm established in Cyprus nor authorized to provide such services. Also noted by CySEC how no notification has been received by a competent authority of another member state pursuant to section 77 and 80 of the above mentioned law, regarding this firm.
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Additionally, the press release said that the firm is not regulated by the Commission, and urged investors, before conducting business with Investment Institutions, to check the CySEC website to confirm an entities regulatory status in order to determine whether it is authorized to provide investment services in the Cypriot Republic.
Forex Magnates’ reporters attempted to contact the company based on a cache version of the website that depicted the latest contact information as of June 17, 2013, as its site is not currently online, and received a voice mail for Trident FX. The cached contact information listed the Company Registration Number as HE 318333 and with an address at the Gala Business Center in Paralimni, Cyprus.