The CNMV Has Issued A Warning To These Unlicensed Brokers

The National Securities Market Commission (CNMV) is the Spanish government organization in charge of the financial regulation of the Spanish securities markets. Financial rules and activities are in accordance with the European MiFID Financial Harmonization Law. To offer financial services and products, forex brokers must be licensed by the CNMV.

The Spanish National Securities Market Commission (CNMV) has issued warnings about these unauthorized brokers. The following is a list:

1. Novelis Capital

Website: https://novelis.capital/

2. Spartan Trade

Website: https://spartan-trade.com/

Client Reactions

According to CNMV, all of the firms that were warned were not permitted to offer investment services.

Before trading with a broker, traders should verify their licenses. Investors' money cannot be safeguarded by regulators or laws if there is no regulation. If you leave your money with shady brokers, you may never see it again.

How to avoid these scam brokers？

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