CNMV Issues Warnings on Unregistered Firms and Unauthorized Financial Services Providers
The Comisión Nacional del Mercado de Valores (CNMV) has issued multiple warnings to the public regarding firms and platforms that are not authorized to provide investment services or activities in Spain, including activities related to financial instruments and crypto-asset services. These warnings are issued pursuant to the second paragraph of Article 18 of the Securities Markets and Investment Services Act (Law 6/2023, of 17 March).
According to CNMV, the entities listed below are not registered as investment services companies and are not authorized to carry out activities reserved for crypto-asset service providers under Regulation (EU) 2023/1114. Some of these entities falsely claim to be linked to legitimate companies or offer services such as foreign currency transactions, crypto trading, or investment products without a valid prospectus. Investors are urged to exercise extreme caution and verify the registration and authorization status of any firm before engaging in financial transactions.
Confirmed Unregistered Entities and Platforms:
|
Entity / Platform |
Website |
Notes |
|
4SYTE Trading Ltd |
Not authorized; offers investment services without registration. |
|
|
4SYTETrade (Clone) |
Clone site impersonating legitimate entity. |
|
|
Global TradeStation Ltd |
Not authorized; crypto and investment activities prohibited without prior authorization. |
|
|
SQHWYD |
Not authorized; crypto-asset services restricted. |
|
|
MKTInvesting |
Not authorized; foreign currency and investment services prohibited. |
|
|
ETF Boost AI |
Not authorized; investment services prohibited. |
|
|
Horizons28 |
Not authorized; investment and crypto services prohibited. |
|
|
IDCXS Crypto Group Ltd |
Not authorized; investment and crypto services prohibited. |
|
|
IBXT App |
Mobile application promoted via WhatsApp groups |
Not authorized; investment and crypto services prohibited. |
|
Stamford Finance |
Not authorized; investment and crypto services prohibited. |
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