The National Securities Market Commission (CNMV) is the Spanish government agency responsible for the financial regulation of the securities markets in Spain. The financial regulations and operations comply with the European MiFID financial harmonization law. Forex brokers shall be regulated by CNMV to provide financial services and products.
Recently, CNMV issued warnings against 11 unlicensed forex broker. Here is the list:
1. 44 Trades (44 HOLDINGS GROUP LTD)
2. GitexCapital (SANGUINE SOLUTIONS LTD)
3. PrimeMarketCap (GZ PRECISION LLC)
5. Invest Atlas
7. W2W Capital (W2W CAPITAL LLC)
8. BBanc (PRIMIS LLC)
9. MYN Capital (MYN CAPITAL LLC)
10. Universal Wealth Group (UNIVERSAL WEALTH GROUP)
According to CNMV, all of the warned companies had not been authorized to provide investment services.
Traders should check the licenses of brokers before trading with them. Without regulation, investors' money can not be protected by any regulators or laws. Once your money is on bogus brokers, you may never get your funds back.