The National Securities Market Commission (Comisión Nacional del Mercado de Valores, or CNMV) in Spain has issued warnings against a number of unlicensed brokers and financial institutions targeting traders in the country.
Included in the list released today are two unlicensed Retail Forex brokers, NetoTrade (operating from website netotrade.com) and GBO Capital (at gbocapital.com).
Both brokers have been the subject of other regulator warnings. NetoTrade has been cited by the FCA in the UK for targeting UK customers, and was also added to CySEC’s list of unregulated forex and binary options brokers late last year.
GBO Capital, which claims to be based in Sofia, Bulgaria but is not licensed there, is owned by a company called Bali Limited Ltd, which also operates an online broker called Stockscall, which has also been the subject of a CNMV warning.
The CNMV warning against NetoTrade and GBO Capital can be seen here (pdf).