Spain's National Securities Market Commission Warns of Cloned Entity Impersonating OANDA

On August 4, Spain's National Securities Market Commission (CNMV) warned of a cloned entity posing as regulated FX and CFD broker OANDA.

According to the Spanish financial regulator, a cloned entity is using “www.oandno.com” to offer unauthorized financial services to the public. The CNMV said that the cloned website is not related to OANDA TMS BROKERS S.A., the Spanish branch of the forex trading brand OANDA.

The regulator further stated that the cloned entity is not authorized by it to provide relevant investment services and activities, including forex trading and crypto-asset services, under the Securities Markets and Investment Services Act.

BrokersView reminds you

The cloned entity warned by the Spanish regulator has shut down its website “www.oandno.com”. However, it does not mean that the operators behind the website have given up stealing money from unsuspecting investors.

BrokersView recommends that you double-check the financial licenses of the service providers through the portals of your local regulators before transactions and avoid being deceived by impostors.