Spain’s securities regulator CNMV has published a warning against Citrades, a binary options firm offering its services via https://www.citrades.com/.
The watchdog notes that the company is not authorized to provide investment services and/or investment advice regarding financial instruments, including foreign currency.
The website of Citrades says the broker is owned and operated by CIT investments Ltd of 25 Mason complex, Stoney ground, Anguilla. The Spanish regulator stresses that the broker is unregistered.
This is not the first time for Citrades to grab the attention of regulators, as in May last year, the British Columbia Securities Commission (BCSC) issued a similar warning against the brokerage. The Canadian regulator said back then that Citrades is not authorized to offer its services to residents of British Columbia.
You can view the original warning from the Spanish regulator by clicking here.