The Cypriot financial regulator – Cyprus Securities and Exchange Commission (CySEC) has announced warnings against more unauthorized firms and suspected scams. The regulator posted a warning on its website on Friday to announce that the following firms do not have Cyprus investment firm (CIF) registration and in some cases are clones of previously uncovered scam companies.
The regulator indicated that the following firms are not licensed to operate a brokerage business in Cyprus, nor are they affiliated with a regulated entity:
Traders holding accounts at these companies or those interested in trading with them should take extra caution as their funds may be at risk. Before making a decision to trade, investors should always check the status of their broker.
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