The Cyprus Securities and Exchange Commission (CySEC) has issued a warning regarding five investment firms that operate without the necessary authorization. These firms are:
* generalfx.io
* fintelligence24.com
* rcmbrokerslimited.com
* xbmkforex.com
* oakwell.finance
According to CySEC, these websites are linked to entities that lack the required licenses to provide investment services or engage in investment activities as stipulated under Article 5 of Law 87 (I)/2017.
Investors are advised to verify the legitimacy of investment firms by checking CySEC’s official website (www.cysec.gov.cy) to determine whether the entities are licensed for the provision of investment services or activities.
CySEC regularly updates its list of unauthorized investment entities to protect investors. Earlier in the year, a separate warning was issued regarding 11 firms that were similarly operating in Cyprus without appropriate licenses.
Additionally, the regulatory authority continues to alert the public about individuals or groups impersonating CySEC representatives, who are, in reality, engaging in fraudulent activities. It is crucial for potential investors to exercise caution and conduct due diligence regarding any investment firm before engaging in financial transactions.