Polish Watchdog Warns Against Several Unlicensed Firms

The public has been advised to abstain from any business or transactions with these providers.

Poland’s financial regulator KNF on Tuesday issued a public warning about several forex and binary options brokers, stating that the firms are not authorized to provide investment services or activities in the country.

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The Polish watchdog has updated its blacklist to include the following entities:

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  • Alpha Finex Ltd
  • Alpha Advanced Innovation Limited
  • Bloomfx sp. z o. o.
  • IL Trade sp. z o. o.
  • Joshua Consulting Ltd
  • Marshall Advanced Innovation (known also as KSF Trade)
  • Marshall Software (KSF Trade)
  • Trademarker Cyprus Ltd

The KNF cautions the public that the aforementioned firms target Polish customers and since they have no right to do so, the KNF has added these companies to its list of unauthorized investment firms.

The public has thus been advised to abstain from any business or transactions with these providers and to be aware of the increased risk caused by the lack of authorisation required to provide financial services in Poland and the European Union.

Investment services and activities in Poland may only be provided by companies licensed by the the Polish Financial Supervision Authority (KNF) under the terms of the Act on Financial Market Supervision.

 

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