Spain’s CNMV warns against unauthorized forex, binary options brokers FX Marker, Imperial Options

Spain’s CNMV warns against unauthorized forex, binary options brokers FX Marker, Imperial Options

The Spanish financial regulator, the Comision Nacional del Mercado de Valores (CNMV), issued on Monday warning notices against unauthorized entities Green Investment House Corp. and LandMark Trade, trading as FX Marker and Imperial Options, respectively, which have been providing forex trading services without being registered in the country.

The two companies do not have the proper authorization to provide investment services, forex trading included, to Spanish citizens.

Green Investment House operated via the website www.fxmarker.com, while LandMark Trade offers services using www.imperialoptions.com.

Spain, as an EU member, only allows investment companies to operate in the country if licensed by the local relevant authorities or the regulators of any other EU country.

The CNMV keep a list of entities authorized to provide investment services. It frequently updates a list of unauthorized companies and other warning notices. Any entitied that are not licensed and do not fall under the authority of the CNMV present a great risk to traders and their investments.

Green Investment House, or FX Marker, is registered and regulated by Belize’s International Financial Services Commission (IFSC). It also has an office in Gibraltar. It offers trading of forex, indices and commodities. The broker uses its own proprietary web-based trading platform under the FX Marker brand.

LamdMark Trade, or Imperial Option, on the other hand, is registered in the British Virgin Islands. It provides no data about regulation and licensing. The broker offers trading of binary options on forex, stocks, commodities, and indices.

Both Belize and the British Virgin Islands are known as offshore destinations for forex and CFDs brokers.

We strongly advise you to only deal with regulated forex brokers, authorized by reputable regulatory bodies like CySec, FCA, and CFTC/NFA, among others.

Source: CNMV

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