CNMV Flags New Wave of Unauthorised Investment Platforms as Online Risks Persist

Spain’s financial regulator, the Comisión Nacional del Mercado de Valores (CNMV), has issued fresh warnings against a group of unregistered entities offering investment services without authorisation, underscoring the continued expansion of online financial scams targeting retail investors.

The latest alert highlights a range of websites and brands operating across multiple domains, many of which present themselves as trading platforms or investment service providers. According to the CNMV, none of the identified entities are registered in its official records and are therefore not permitted to provide investment services or conduct regulated financial activities in Spain.

The warning reflects a persistent pattern in the market, where unauthorised operators rely on professional-looking websites, simplified onboarding processes, and cross-border digital infrastructure to attract clients. These platforms often promote forex, CFDs, or crypto-related investments while avoiding regulatory scrutiny and investor protection requirements.

In addition to the unauthorised entities, the CNMV also pointed to links between certain operators and associated individuals, highlighting how some schemes may involve coordinated networks rather than standalone websites. This reinforces concerns about increasingly structured operations behind retail-facing platforms.

The regulator reiterated the importance of verifying whether a firm is authorised before engaging with any investment service, noting that the absence of registration typically means investors are not protected under existing regulatory safeguards. The CNMV also encourages the public to report suspicious offers and consult its official database to confirm the legitimacy of financial service providers.

Entities Identified by CNMV