Spanish regulator CNMV warns against several unregulated forex brokers

Spanish regulator CNMV just issued another warning today against the forex companies:

  • Tradev Ltd., operating at www.tradev.com website;
  • DGX SYSTEMS LTD (PRIME FX BANK / PFXBANK), operating at www.pfxbank.com and www.pfx-bank.com; and
  • FIRST INVESTMENTS CAPITAL MARKETS, operating at www.firstinvestmentscapitalmarkets.com/ and www.first-union-esp.com.

CNMV confirmed that these entries are not licensed or registered and, therefore, are not authorized to provide investment services.

The companies are not authorised to provide the investment services detailed in Article 140 of the Securities Markets Law, which include investment advice, or to provide the auxiliary services detailed in letters a), b), d), f) and g) of Article 141 of the said Law in relation to the financial instruments detailed in Article 2 of the said Law, including, to those purposes, foreign currency transactions.

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