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Retail FX

FCA Issues 1,716 Warnings About Unregistered Firms From April 2022 to March 2023

  • The regulator prevented 1 in 5 new consumer investment firms from entering the market.
  • Inquiries about potential scams have increased by 12% annually since 2020.
by Jared Kirui
CryptoCurrency

Philippines Joins Global Crypto Crackdown on Binance

  • Philippines' SEC warns Binance for operating without a license, risking 21-year imprisonment for promoters.
  • The company faces global regulatory issues, including investigations in France and Singapore.
by Damian Chmiel
Retail FX

News Nuggets | 27 November: Argo Welcomes New CEO; HIVE Acquires Swedish Data Center

  • Also, the FCA issued a warning against VentureXchange.
  • Read today's FX/CFDs, crypto and fintech sectors' dynamic news.
by Damian Chmiel
Retail FX

News Nuggets | 21 November: FCA and FMA Warns against Clones and Fraudsters

  • Also, ASIC published enforcement plan; Plaid hires Adyen executive.
  • Read today's FX/CFDs, crypto and fintech sectors' dynamic news.
by Damian Chmiel
Retail FX

News Nuggets | 20 November: FMA and Consob New Warnings; LSEG Appoints New CFO

  • Also, The Trading Pit appoints the new Head of Dealing; Astra Financial and WeLab launch Bank Saqu.
  • Read today's FX/CFDs, crypto and fintech sectors' dynamic news.
by Damian Chmiel
Retail FX

Cyprus Police Warn of Telephone Scam as Fraudsters Pose as Market Watchdogs

  • Fraudsters are posing as officials from Capital Market Commission in telephone scams.
  • CySEC has cautioned against fraudsters impersonating its officers.
by Jared Kirui
Retail FX

eToro Clone among Eight Entities Flagged by CNMV

  • The Spanish market watchdog updates its warning list.
  • One of the entities has a name very similar to eToro.
by Damian Chmiel
Retail FX

Santander’s Shadowy Twin Triggers FCA Warning

  • The British regulator warns against impersonating the popular bank.
  • This month is another warning from the FCA about a clone firm.
by Damian Chmiel
Retail FX

Lirunex's Asian Expansion Faces Regulatory Hurdles in Malaysia

  • The broker's trading center in Kuala Lumpur has been running since 2022.
  • However, the SCM claims that Lirunex is operating without the necessary authorizations.
by Damian Chmiel
CryptoCurrency

FCA Targets 143 Entities, including Major Crypto Exchanges Huobi and KuCoin

  • On Sunday, the FCA expanded its warning list when the new crypto regulations kicked in.
  • The regulator claims two major cryptocurrency exchanges operate in the UK without authorization.
by Damian Chmiel
Retail FX

News Nuggets | 4 October: SEC Halts Ponzi Scheme; FCA Updates Warning List

  • Also, ClearBank broadens its Board; ABN Amro sells a stake in EMS to Fiserv.
  • Read today's FX/CFDs, crypto and fintech sectors' dynamic news.
by Finance Magnates Staff
Retail FX

Beware the Doppelganger: UK FCA Exposes Fake BUX Trading Platform

  • FCA has warned against Trader BUX Markets.
  • As it turns out, it is the second clone of BUX in the UK within the last 12 months.
by Damian Chmiel
Retail FX

News Nuggets | 6 September: Zodia Expands into Abu Dhabi; Belgium FSA Issues New Warnings

  • Also, Strise secured $10.8 million in funding; Finalto Asia announced its new Head of Sales.
  • Read today's FX/CFDs, crypto and fintech sectors' dynamic news.
by Finance Magnates Staff
Retail FX

News Nuggets | 7 August: FCA Warns against 20 Fraudulent Firms; Doo Group Hires Head of HR

  • Also, Fasset presents 'super-app'; Block axes its European venture and CS cuts jobs in HK.
  • Read today's FX/CFDs, crypto and fintech sectors' dynamic news.
by Finance Magnates Staff
Retail FX

News Nuggets | 17 July: LSEG's FX Head of Sales Departs; CNMV Warns against Illegal Firms

  • Also, Webull expand to ASX equities; BaFin Extends AML measures on N26.
  • Read today's FX/CFDs, crypto and fintech sectors' dynamic news.
by Finance Magnates Staff
Retail FX

Consob Blocks Access to Clone Sites of E*TRADE and ActivTrades

  • The number of clones has increased significantly in 2023.
  • Last week, CySEC and the FCA also warned against clone companies.
by Damian Chmiel
Retail FX

CySEC Warns against OANDA TMS Clone Website

  • The Cypriot regulator published a new list of warnings today.
  • Among nine illegal entities was an OANDA TMS clone.
by Damian Chmiel
Retail FX

FCA Warns against eToro Clone Misusing License Number

  • The warning was issued against ExpoToro and TraToro.
  • This has been another clone of a popular social trading platform in recent years.
by Damian Chmiel
Retail FX

FSMA Warns against 38 Unlicensed Forex, CFDs and Crypto Platforms

  • The regulator highlighted the dangers of using fraudulent platforms' services.
  • Many of them are still operational.
by Damian Chmiel
Retail FX

Nadex Clone and Three Other Sites Blocked by Consob

  • None of these platforms is authorized to operate in Italy or any other EU country.
  • Consob blocked almost 900 websites in the last three years.
by Damian Chmiel
Retail FX

Consob Blocked 855 Illegal Trading Platforms in 3 Years, Ads 5 More

  • Italy's Consob has been effectively blocking illegal trading websites since 2019.
  • To date, the supervisor has been able to halt 855 of them.
by Damian Chmiel
Retail FX

Rakuten Securities Hong Kong Warns Investors of Fraudulent Impersonators

  • Fraudulent actors are impersonating Rakuten Securities HK.
  • The number of clone companies increased in 2022 and the beginning of 2023.
by Damian Chmiel
Retail FX

FSMA Warns against Webull Clone and 20 Other Unlicensed Platforms

  • According to Belgium's FSMA, listed platforms may extort money from investors.
  • A Clone of the WeBull trading brand is one of them.
by Damian Chmiel
Retail FX

CySEC Warns against Licensed Broker Clone

  • IMS Crypto uses the CIF license number of IMS Markets.
  • The latter is CySEC's authorized investment firm, the first is just a clone.
by Damian Chmiel
Retail FX

ESMA Sees High Market Risks and Warns of Further Declines

  • ESMA just presented its newest TRV Report for 2023.
  • The institution warns retailers of further possible market declines.
by Damian Chmiel
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