Spain's National Securities Market Commission (CNMV) has issued fresh warnings about eight financial companies promoting investment services without proper registration. These firms lack authorization from the CNMV to operate in Spain legally.

Spain's CNMV Flags 8 Unregistered Forex and CFD Entities

The CNMV stated that the companies mentioned in the latest warning are not registered in Spain to provide financial services or investment activities. Under local regulations, firms must register with the market watchdog before legally operating in the country.

The following companies were named in the CNMV warning:

• fame-traders.com (Fame Traders)
• globefx.io (Globe Fx)
• protrade24.net (Protrade24)
• tradingero.es (Tradingero)
• assetivax.com (Assetivax)
• aifmd.info, aifmd.xyz (Aifmd)
• smart-limited-group.com (Smart Limited Group)
• capitalmgmgroup.com, capitalmgm.com (Capitalmgm)

The above list includes a mix of companies offering access to trading platforms and automated bots aimed at FX and cryptocurrency investors.

Warnings from #CNMV on unregistered institutions: https://t.co/5OrAZfgBVE

— CNMV (@CNMV_MEDIOS) June 10, 2024

The Spanish regulator is among the most active in the European market in informing about illegally operating entities. In recent months, it has warned about clones of popular investment firms and drawn attention to the unlicensed activity of companies in the 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 and contracts for difference (CFD) sector.

In the most recent move, it warned against Linq Capital, a broker that had been under European regulators' scrutiny several months ago. The German BaFin, among others, had warned about its activities in February.

Spain recently expanded its restrictions on the marketing Marketing Marketing is defined as the business process of identifying, anticipating and satisfying customers' needs and wants.This is a crucial element of any operation or brokerage in the financial services space. Well-funded marketing campaigns are instrumental to the survival and longevity of these companies in an increasingly competitive industry.Within the forex space, marketers perform a wide range of functions to help procure, secure, or retain clients.In particular, newer forex brokers also have t Marketing is defined as the business process of identifying, anticipating and satisfying customers' needs and wants.This is a crucial element of any operation or brokerage in the financial services space. Well-funded marketing campaigns are instrumental to the survival and longevity of these companies in an increasingly competitive industry.Within the forex space, marketers perform a wide range of functions to help procure, secure, or retain clients.In particular, newer forex brokers also have t Read this Term, distribution, and sales of CFDs, banning practices aimed at retail clients and the general public. European authorities deemed these measures justified and proportionate, aiming to enhance investor protection in the face of aggressive advertising campaigns by some brokers.