Unregulated “Forex” brokerage Webnet Ltd has been blacklisted by the The Commission de Surveillance du Secteur Financier (CSSF). The country’s main financial regulatory suspects them being involved in scam operations.
The brokerage Webnet Ltd claims to be a CFD broker and further purports to be regulated by the authorities in Luxembourg, however, such claims are divorced from reality. It operates through the website – www.2dots.com – and gives a supposed address: 5, rue Heinrich Heine, Luxembourg 19857. We also read that there are more than a thousand different trading products which is quite impressive, however, the broker does not extend potential clients a test-drive of its platform and we conclude it is likely a bogus claim.
The CSSF has always advised traders to only do business with legitimate firms that hold the proper license. Traders may always check the regulatory status of a given company by going on the online registry of the Luxembourgian financial watchdog and typing out the name of the company. Another good idea is simply googling the name of the company and reading reviews from ex-clients of the brokerage, as well as from professional Forex bloggers.