Spain’s financial regulator, the National Securities Market Commission (CNMV), has cautioned investors against six unregistered entities operating nine unauthorized websites. These include ‘Pepper Stone Ltd’ and ‘PRIMUS FX’, which manage pepperstoneld.com and primusfx.net, respectively. The other websites flagged by CNMV are forzatrade.io, forzatrade.net, forzatrade.org, forzatrade.world, itradersfx.com, exteom.com/en/ and lionmarket.live.
The regulator clarified that these firms are not listed in its registry and are, therefore, not authorized to provide investment services or other activities under its supervision.
The CNMV’s warning is a reminder to investors to exercise caution when dealing with unregistered firms and their websites, as they may not comply with regulations and could pose risks to investors. The regulator advises investors to verify the registration status of entities offering financial services or investment opportunities before engaging with them.
The Laid Out Duplicate
‘Pepper Stone Ltd’ and ‘PRIMUS FX’ appear to be imitation versions of two established and reputable brokerages, Pepperstone and FXPRIMUS, respectively. Pepperstone is regulated in several jurisdictions, including Australia, Bahamas, the UK, Germany, Kenya, and Dubai, while FXPRIMUS is supervised by the Vanuatu Financial Services Commission and the Cyprus Securities and Exchange Commission (CySEC).
PRIMUS FX claims to be one of Europe’s leading financial institutions, providing trading opportunities in forex, CFDs, stocks, and commodities, but it does not specify its regulatory jurisdictions. Similarly, Pepper Stone does not mention its regulatory authorities but boasts more than five years of market experience and over 10,000 clients. In contrast, Pepperstone is multi-regulated and offers clients access to over 1,200 CFDs, as well as various trading platforms such as MetaTrader 4, MetaTrader 5, and cTrader.
The CNMV did not confirm whether ‘Pepper Stone Ltd’ and ‘PRIMUS FX’ are clones of the established brokerages. However, the Spanish financial regulator recently issued a warning against unregulated entities providing financial services to retail investors in Spain, including Morgan Finance, OneCapital Invest, Invinco, Theta Investments, Shadlake, Trade Coin, Trade Nation, and Millenium Operations.