CNMV Warns Investors About IBA Markets

Spain’s financial watchdog adds unregistered FX broker IBA Markets to its warning list.

The CNMV, Spain’s securities markets watchdog, has added IBA Markets (International Brokers Association Markets) to its growing investor warning list. The announcement comes just one week after the CNMV issued warnings against several brokers including BelforFX and Escuelade Traders for being unauthorised to provide investment services or advice under the relevant local capital markets law.

The broker in question operates online under the banner of as a provider of a range of FX services. While the website claims to have started its registration process with Russia’s Federal Financial Markets Service (FFMS) and Germany’s Bafin, the CNMV draws attention to the fact that where regulation is concerned, forex brokers in Russia are regulated by the Russian central bank as opposed to the FFMS.

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The CNMV’s role is to inform investors that investing through non-authorised companies implies a high risk of suffering capital losses since they operate outside the controls of supervisory authorities. Its latest warning on IBA Markets confirms that it is not authorised to offer investment services, including forex, in Spain.


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