Spain’s CNMV warns against unauthorized brokers Financika, BKTrading, Safeklik

Spain’s CNMV warns against unauthorized brokers Financika, BKTrading, Safeklik

The Comision Nacional del Mercado de Valores (CNMV), the financial regulatory body of Spain, added on Monday unauthorized binary options brokers BKTrading and Safeklik and forex broker Financika to its warning list. The entities have been offering investment and auxiliary services to Spanish citizens without having the proper licenses.

BKTrading (www.bktrading.com/es) and Safeklik (www.safeklik.com) are two platforms for binary options trading, while Financika (www.financika.com) offers trading in various instruments, including forex, contracts for difference (CFDs), stocks and commodities.

According to the entities’ websites, Financika is a brand name of Sharp Trading Ltd. and has offices in Vanuatu and Bulgaria, while Safeklik is part of London-based SFKK Trading Solutions LTD. The website of BKTrading, on the other side, is not active any longer.

Spain is a EU member state and as such allows the operation of investment companies if they are licensed by the local relevant authorities or the regulators of any other EU country.The local financial watchdog Maintains a list of entities authorized to provide investment services and another one with unregulated entities. Any entities that are not licensed and do not fall under the authority of the CNMV present a great risk to traders and their investments.

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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