The financial regulator from Cyprus, the CySEC, has alerted the public about several unregulated and scam investment services.
Capital Tech FX
CapitalTechFX is a typical broker that is trading with Forex, stock, commodities and ETFs. The broker says that it has office in the UK, Singapore and Cyprus. It is supposed to be an authorized investment service thanks to its parent company Crowd Tech.
But it is not true, the CySEC has clearly stated that Capital Tech FX is not regulated at all.
It claims to have offices in Australia and Cyprus and also to be regulated thanks to its parent company Crowd Tech.
But it is not true, the CySEC has confirmed that Richmonds Finance has no authorization whatsoever.
Because it is a broker, and not an exchange, it needs a license from regulators to be able to operate legally. But it doesn’t have any.
This is why not only the CySEC, but also the FCA has placed eMarketsTrade on its blacklist of unregulated companies.
Nervic FX Trade, Crypt FX Tm, Urban FX Trade and Intense FX Trade
Nervic FX Trade, Crypt FX Tm, Urban FX Trade and Intense FX Trade are not regulated at all, they have no connection to any regulated entity, they are lying on their websites, this is why they have to be avoided.
Capital Tech FX, Richmonds Finance, eMarketsTrade, Nervic FX Trade, Crypt FX Tm, Urban FX Trade and Intense FX Trade are unregulated brokers that the CySEC has warned against, stay away from them.
For trading you should always use regulated brokers. We recommend starting on a demo account so that you can learn trading with virtual money.