Last Tuesday, the Cyprus Securities and Exchange Commission filed a list of fraudulent firms with seven more inclusions. The listed services are not authorized to continue business within the country and hence proclaimed to be illegal:
- acmarketsfx.co,
- agmmarkets.net,
- techathome.org,
- easycapitaltrade.com,
- smarttradesfx.online,
- cloudminingfx.net,
- and trust-capital.ltd.
All of these entities are providing unregulated forex trading, while some are even falsely claiming to be licensed by CySEC and or other legislation services. One of the firms is using the name of an already established CySEC trading business.
Although withdrawal methods are many, CySEC still advises investors to steer clear of the mentioned fraudsters.
This isn’t the first time CySEC has put out warnings about a large number of active firms. Recently, Cyprus citizens have been warned about another six public fraudulent businesses.
