Forex Broker TD365 Warned by Danish Financial Supervisory Authority

The Danish Financial Supervisory Authority (Finanstilsynet, FT) has issued a warning against online trading platform TD365.

Recently, some Danish-speaking finfluencers lured their followers on social media to invest in the online trading platform, TD365, which caught the attention of the Danish financial regulator.

According to the FT, the broker's website is www.td365.com and the company name used is Trade Nation Ltd. However, the regulator stressed that the company is not authorized to operate as an investment company in Denmark.

The FT reminds investors that if they trade financial products on an unlicensed investment platform, neither the investor nor their funds can be protected, nor can the investor file a complaint with the relevant authorities. And when things go wrong, investors are likely to be unable to recover their funds.

According to the information on the website of TD365, this service provider is located in the Bahamas and has obtained financial authorization from the Securities Commission of the Bahamas (SCB). Not only forex, TD365 also provides trading services such as index, stock, commodity and cryptocurrency, with leverage up to 200:1.

However, this is not the first time TD365 has been warned in Europe. Not only in Denmark, TD365 was cautioned by the Spanish National Securities Market Commission (CNMV) in March, 2023.

_{CNMV warns TD365}

Traders should carefully verify the local financial authorization status of a trading platform before making an investment decision and be cautious about dealing with unregulated ones.