The Cyprus Securities and Exchange Commission (CySEC) informs investors that several websites are not linked to any entity authorized to offer investment services or perform investment activities.

It should be noted that some of these entities may be fraudulent clones, attempting to impersonate licensed companies by using their names, logos, addresses, and other details.

CySEC Alerts on Unauthorized Websites

These firms include WeonMarket, along with its associated site platform.dashboardweonmarket.live; Nortenway and its registration page, cfd.nortenway.com/register; PrimusCFD and its client portal, client.primuscfd.net; Axiagroup.co; OctaMarketFX; Apmetrade; Investous.pro; Varkuti.eu and QuoMarkets.com.

Other sites in the warning list include Efgbtrdpltfrm.com; Profitwave.cc; MarketsAdvGroup.com; Platform-Oro.com; VTMarkets.com and VTMarkets.net; Bybit.com; Chiron-Group.limited; and GameChangersWW.com, which is also linked to Bybit.com and VTMarkets.net.

Deceptive operations by clone Clone A clone refers to a fraudulent attempt by an entity or individual to use the details of an authorized firm in a bid to convince people that they work that firm.This refers to a relatively new tactic that has seen fraudsters using the name, ‘firm registration number’, and address of firms and individuals authorized by regulators to suggest they are genuine. Clones are seemingly primitive techniques, though newly adopted by scammers that have evolved in the information era. As regulators push for A clone refers to a fraudulent attempt by an entity or individual to use the details of an authorized firm in a bid to convince people that they work that firm.This refers to a relatively new tactic that has seen fraudsters using the name, ‘firm registration number’, and address of firms and individuals authorized by regulators to suggest they are genuine. Clones are seemingly primitive techniques, though newly adopted by scammers that have evolved in the information era. As regulators push for Read this Term firms have no connection to the legitimate firms they mimic, despite their apparent similarities.

Investor Caution Advised

Finance Magnates reached out to several firms on the warning list. OctaFX responded, clarifying that the website “octamarketfx.com” is unrelated to their globally licensed operations and is an impostor using their brand for fraudulent purposes. They emphasized that their official site is “octafx.com” and assured that steps are being taken to eliminate the deceptive site.

“‘octamarketfx.com’ website added recently to the warning list issued by the CySEC CySEC The Cyprus Securities and Exchange Commission (CySEC) is a financial regulatory authority of Cyprus. CySEC is one of the key watchdog authorities for brokerages in Europe, whose financial regulations and operations comply with the European MiFID financial harmonization law.Founded in 2001, CySEC is instrumental in providing licensing and registration for forex brokers and previously binary options providers.CySEC is responsible for a variety of different functions, which includes the supervision The Cyprus Securities and Exchange Commission (CySEC) is a financial regulatory authority of Cyprus. CySEC is one of the key watchdog authorities for brokerages in Europe, whose financial regulations and operations comply with the European MiFID financial harmonization law.Founded in 2001, CySEC is instrumental in providing licensing and registration for forex brokers and previously binary options providers.CySEC is responsible for a variety of different functions, which includes the supervision Read this Term has nothing to do with the globally licensed broker Octa (ex. OctaFX) operating on the market since 2011. ‘octafx.com’ is the main official website of the company. Moreover, EU residents and citizens aren’t able to register and be onboarded via octafx.com,” the firm noted in its statement.

“As for ‘octamarketfx.com’ we consider the entity as an impostor using our brand for the purpose of profit. There have been numerous instances where imposters have attempted to deceive people by using our brand name and/or logo to solicit money, which is ultimately stolen by these copycats. We passed the case to the relevant team, so we’re aiming to take action in this regard and eliminate ‘octamarketfx.com’ from public access.”

CySEC urges investors to exercise caution and consult its website to verify the licensing status of any investment firm before proceeding.