Portuguese Watchdog Warns Against AAFX CAPITAL
- Portugal’s watchdog confirmed that registration under its laws is required in principle, even for overseas operators
Portugal’s securities watchdog authority, Comissão do Mercado de Valores Mobillários (CMVM), today reminded the public to exercise caution when dealing with Affiliates Affiliates Affiliates serve as an essential component of a broker’s client acquisition tactics and marketing. One of the most important functions of affiliate marketers is the sending of leads to the broker, which are directly opening an account or visiting the broker’s website. There are several ways in which brokers are compensating affiliates based on the number and type of clients they refer to the company and whether or not or how much they end up depositing.Understanding CPA or Cost Per Acquisition T Affiliates serve as an essential component of a broker’s client acquisition tactics and marketing. One of the most important functions of affiliate marketers is the sending of leads to the broker, which are directly opening an account or visiting the broker’s website. There are several ways in which brokers are compensating affiliates based on the number and type of clients they refer to the company and whether or not or how much they end up depositing.Understanding CPA or Cost Per Acquisition T Read this Term or introducing brokers of unregulated FX companies. In an advisory, the CMVM warned locals against AAFX CAPITAL, which operates its FX and CFDs business based from an undisclosed jurisdiction and without a regulatory permit.
Per the latest regulatory warning, AAFX CAPITAL is not authorized under the Portuguese Securities Code (Approved by Decree-Law No. 486/99) to provide investment and ancillary services in the country. These services include the prospecting and advising on investments and dealing in financial instruments, such as stocks and shares, bonds, derivatives, and instruments like 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.
Portugal’s watchdog confirmed that registration under the aforementioned act is required in principle, even for overseas operators offering financial instruments for residents, or making transactions on their behalf as counterparties.
The watchdog has also alerted investors against other FX brands, most of which are offshore brokers that operate in a loose regulatory environment.
The CMVM explained that both types of operators, IB or execution brokers, should implement and maintain appropriate measures to ensure compliance of all applicable rules and regulations.
Consult the CMVM Website First
Portuguese authority also warned of a new generation of unchecked traders that are using flashy social media profiles to trick victims into thinking they can trade online and make thousands in no time. It referenced Instagram profiles of pro-claimed traders that post pictures of jet-setting lifestyle, including sports cars that they gained from trading in currencies and claim customers can do the same if they ‘follow their signals’.
While these bogus profiles advertise get-rich-quick schemes, they do not even have a website and operate solely on social media channels, including Instagram, Facebook, or WhatsApp.
However, these traders do not have the necessary accreditation or qualifications to offer these services, though they promise very lucrative and guaranteed returns. All fake promises tend to stop after victims have invested some money and received their first round of profits, the CMVM warns.
The agency noted that the information used in the warnings was obtained from solicitation materials, and therefore, may be inaccurate. The CMVM recommends that all investors consult its website before conducting or engaging in any investment activities with companies in order to see if they are authorized to provide investment services in Portugal.
Portugal’s securities watchdog authority, Comissão do Mercado de Valores Mobillários (CMVM), today reminded the public to exercise caution when dealing with Affiliates Affiliates Affiliates serve as an essential component of a broker’s client acquisition tactics and marketing. One of the most important functions of affiliate marketers is the sending of leads to the broker, which are directly opening an account or visiting the broker’s website. There are several ways in which brokers are compensating affiliates based on the number and type of clients they refer to the company and whether or not or how much they end up depositing.Understanding CPA or Cost Per Acquisition T Affiliates serve as an essential component of a broker’s client acquisition tactics and marketing. One of the most important functions of affiliate marketers is the sending of leads to the broker, which are directly opening an account or visiting the broker’s website. There are several ways in which brokers are compensating affiliates based on the number and type of clients they refer to the company and whether or not or how much they end up depositing.Understanding CPA or Cost Per Acquisition T Read this Term or introducing brokers of unregulated FX companies. In an advisory, the CMVM warned locals against AAFX CAPITAL, which operates its FX and CFDs business based from an undisclosed jurisdiction and without a regulatory permit.
Per the latest regulatory warning, AAFX CAPITAL is not authorized under the Portuguese Securities Code (Approved by Decree-Law No. 486/99) to provide investment and ancillary services in the country. These services include the prospecting and advising on investments and dealing in financial instruments, such as stocks and shares, bonds, derivatives, and instruments like 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.
Portugal’s watchdog confirmed that registration under the aforementioned act is required in principle, even for overseas operators offering financial instruments for residents, or making transactions on their behalf as counterparties.
The watchdog has also alerted investors against other FX brands, most of which are offshore brokers that operate in a loose regulatory environment.
The CMVM explained that both types of operators, IB or execution brokers, should implement and maintain appropriate measures to ensure compliance of all applicable rules and regulations.
Consult the CMVM Website First
Portuguese authority also warned of a new generation of unchecked traders that are using flashy social media profiles to trick victims into thinking they can trade online and make thousands in no time. It referenced Instagram profiles of pro-claimed traders that post pictures of jet-setting lifestyle, including sports cars that they gained from trading in currencies and claim customers can do the same if they ‘follow their signals’.
While these bogus profiles advertise get-rich-quick schemes, they do not even have a website and operate solely on social media channels, including Instagram, Facebook, or WhatsApp.
However, these traders do not have the necessary accreditation or qualifications to offer these services, though they promise very lucrative and guaranteed returns. All fake promises tend to stop after victims have invested some money and received their first round of profits, the CMVM warns.
The agency noted that the information used in the warnings was obtained from solicitation materials, and therefore, may be inaccurate. The CMVM recommends that all investors consult its website before conducting or engaging in any investment activities with companies in order to see if they are authorized to provide investment services in Portugal.