Spain’s CNMV Adds Forex Broker Banco CFD to its Warning List
- The watchdog has cautioned investors about another forex broker for unlawfully soliciting its services.

Comisión Nacional del Mercado de Valores (CNMV), Spain’s securities markets watchdog, today published a statement stating that it has added retail 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 broker Banco CFD to its warning list and advised the public not to invest with this entity.
Not Authorised
Banco CFD offers investors a range of services in the forex and CFD markets. The company’s website www.bancocfd.com was found to be currently unavailable, although it has maintained a fairly recent Twitter presence. There is, however, no indication as to the brokerage’s current operational status.
Regardless, the CNMV has blacklisted the company because it is not authorised to provide investment services or provide auxiliary services including investment advice in Spain, as detailed in the Securities Markets Law.
Spain’s Financial Watchdog
Spain’s CNMV ensures the protection of investors by promoting the dissemination of as much information as necessary to achieve this purpose. To this end, its role is to inform investors that investing through unregistered companies may pose a high risk of substantial capital losses since they operate outside of the controls of supervisory authorities.
The addition of Banco CFD is part of the watchdog’s continued attempts to halt the activities of unauthorised financial services entities soliciting their services to the public. Today's latest addition follows the inclusion of a further Forex Broker Forex Broker In the forex space, a broker is any company that can provide traders with access to a platform that permits the buying and selling of multiple currencies.The retail forex industry has grown over the past two decades to include every major jurisdiction, which in turn has necessitated new regulatory oversight. Relative to the institutional sector, retail brokers are rather small portion of the greater forex market. However, traders can rely on brokers for leveraged trading in a 24-hour-a-day marke In the forex space, a broker is any company that can provide traders with access to a platform that permits the buying and selling of multiple currencies.The retail forex industry has grown over the past two decades to include every major jurisdiction, which in turn has necessitated new regulatory oversight. Relative to the institutional sector, retail brokers are rather small portion of the greater forex market. However, traders can rely on brokers for leveraged trading in a 24-hour-a-day marke Read this Term, Your Trade Choice, which was added to the CNMV's warning list for being unregistered back in July, as reported by Finance Magnates.
Comisión Nacional del Mercado de Valores (CNMV), Spain’s securities markets watchdog, today published a statement stating that it has added retail 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 broker Banco CFD to its warning list and advised the public not to invest with this entity.
Not Authorised
Banco CFD offers investors a range of services in the forex and CFD markets. The company’s website www.bancocfd.com was found to be currently unavailable, although it has maintained a fairly recent Twitter presence. There is, however, no indication as to the brokerage’s current operational status.
Regardless, the CNMV has blacklisted the company because it is not authorised to provide investment services or provide auxiliary services including investment advice in Spain, as detailed in the Securities Markets Law.
Spain’s Financial Watchdog
Spain’s CNMV ensures the protection of investors by promoting the dissemination of as much information as necessary to achieve this purpose. To this end, its role is to inform investors that investing through unregistered companies may pose a high risk of substantial capital losses since they operate outside of the controls of supervisory authorities.
The addition of Banco CFD is part of the watchdog’s continued attempts to halt the activities of unauthorised financial services entities soliciting their services to the public. Today's latest addition follows the inclusion of a further Forex Broker Forex Broker In the forex space, a broker is any company that can provide traders with access to a platform that permits the buying and selling of multiple currencies.The retail forex industry has grown over the past two decades to include every major jurisdiction, which in turn has necessitated new regulatory oversight. Relative to the institutional sector, retail brokers are rather small portion of the greater forex market. However, traders can rely on brokers for leveraged trading in a 24-hour-a-day marke In the forex space, a broker is any company that can provide traders with access to a platform that permits the buying and selling of multiple currencies.The retail forex industry has grown over the past two decades to include every major jurisdiction, which in turn has necessitated new regulatory oversight. Relative to the institutional sector, retail brokers are rather small portion of the greater forex market. However, traders can rely on brokers for leveraged trading in a 24-hour-a-day marke Read this Term, Your Trade Choice, which was added to the CNMV's warning list for being unregistered back in July, as reported by Finance Magnates.