Spain’s securities regulator has warned that a clone-style website mimicking IG Group, along with two other online trading brands, is offering investment services in the country without authorization.
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The National Securities Market Commission (CNMV) said tarillium.com, value-markets.com and ig-indexlimited.com do not appear in its official registry and therefore cannot legally provide investment services or carry out activities under its supervision.
CNMV Expands List of Unregistered Entities
In its notice, the CNMV highlighted ig-indexlimited.com as a clone-style operation. The regulator stressed that this site has no connection with Indexa Capital A.V., S.A., which is duly registered in Spain as an investment firm under number 257.
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Spain’s latest clone-firm warning lands against a backdrop of tighter rules on high‑risk products, more aggressive blacklisting of unauthorized sites and broader EU‑level work on scams.
ESMA first introduced EU‑wide product‑intervention measures that capped leverage, required negative balance protection and standardised risk warnings, and national regulators such as the CNMV later embedded and tightened these rules locally.
In Spain, this has translated into tougher marketing curbs, including a near‑ban on CFD advertising to the general public and limits on sponsorships that indirectly promote leveraged trading.
CNMV Pairs Tougher CFD Marketing Rules
In recent years, CNMV has not only expanded its list of unregistered and clone‑style platforms, but also pushed through product‑intervention measures that clamp down on how firms’ market CFDs and other leveraged instruments to Spanish retail clients.
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The measures include a de facto ban on CFD advertising to the general public, restrictions on sponsorships and brand campaigns that indirectly promote these products, and stricter margin requirements, all aimed at curbing losses among retail traders.
The clarification aims to avoid confusion for investors who might link the unregistered website with the authorized company because of the similarity in names.
The CNMV is now urging investors to check a firm’s status before opening an account or transferring funds. Investors can consult the official registry and the section dedicated to warnings on the CNMV website, where the authority lists unregistered entities.
