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Carax FX

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Operating status: SCAM

Website: https://www.caraxfx.com/

Broker violations and abnormal records
  • 2023-10-12 The CNMV adds Carax FX to its warning list

    On October 9, 2023, the Comisión Nacional del Mercado de Valores (CNMV) added Carax FX to its warning list for providing investment services without authorization. https://www.cnmv.es/Portal/ResultadoBusqueda.aspx?tipo=1&sortExpression=Fecha&sortDirection=1&page=0

    On October 9, 2023, the Comisión Nacional del Mercado de Valores (CNMV) added Carax FX to its warning list for providing investment services without authorization. https://www.cnmv.es/Portal/ResultadoBusqueda.aspx?tipo=1&sortExpression=Fecha&sortDirection=1&page=0
  • 2023-10-12 BrokersView has reviewed that Carax FX is an unregulated broker

    Carax FX is a broker whose website lacks transparency and credibility. It does not disclose the company name, address, or phone number, and only provides an email for investors to contact. It also does not provide any legal documents.

    The website displays the logos of the Italian Companies and Exchange Commission (CONSOB) and the Comisión Nacional del Mercado de Valores (CNMV), implying that it is regulated by these two agencies. However, this is not true. The CNMV has issued a warning that Carax FX is not authorized by them. While our search for it on CONSOB website has located a firm with a similar name "Carax", we have confirmed that it has no relation to Carax FX, nor does it operate a foreign exchange broker.

    Moreover, the Carax FX website domain name ("caraxfx.com") was registered only in June 2023, and the registrant is based in Mumbai. This is inconsistent with its claim that it is in France and Spain.

    In essence, Carax FX is not regulated by any governing body. Entrusting this broker with investors' funds is highly risky, as there are no legal protections in place to safeguard the funds. 

    Carax FX is unequivocally a scam.

    Carax FX is a broker whose website lacks transparency and credibility. It does not disclose the company name, address, or phone number, and only provides an email for investors to contact. It also does not provide any legal documents.The website displays the logos of the Italian Companies and Exchange Commission (CONSOB) and the Comisión Nacional del Mercado de Valores (CNMV), implying that it is regulated by these two agencies. However, this is not true. The CNMV has issued a warning that Carax FX is not authorized by them. While our search for it on CONSOB website has located a firm with a similar name "Carax", we have confirmed that it has no relation to Carax FX, nor does it operate a foreign exchange broker.Moreover, the Carax FX website domain name ("caraxfx.com") was registered only in June 2023, and the registrant is based in Mumbai. This is inconsistent with its claim that it is in France and Spain.In essence, Carax FX is not regulated by any governing body. Entrusting this broker with investors' funds is highly risky, as there are no legal protections in place to safeguard the funds. Carax FX is unequivocally a scam.

Related Complaints

Q&A

Can I use crypto to trade with Carax FX?

zzlljy
Uruguay
2023-10-30
ANSWER Regardless of how enticing the deals it offers, you are strongly advised against engaging with Carax FX.Carax FX, which claims to be a brokerage firm, has a website that raises questions about its transparency and credibility. The site does not provide any company details such as name, address, or phone number, and only offers an email address for investor inquiries. Furthermore, it does not supply any legal documentation.The site displays the logos of the Italian Companies and Exchange Commission (CONSOB) and the Comisión Nacional del Mercado de Valores (CNMV), implying that it is regulated by these entities. However, this is misleading. The CNMV has publicly warned that Carax FX is not authorized by them (the CNMV warning list can be accessed here). Additionally, while a search on the CONSOB website does reveal a company named "Carax", it has been verified that this entity doesn't operate as a forex broker and has no connection to Carax FX.Adding to the inconsistencies, the domain name for Carax FX ("caraxfx.com") was only registered in June 2023, with the registrant based in Mumbai. This contradicts its claim of being located in France and Spain.In summary, Carax FX is not overseen by any regulatory body. Investing with this broker poses a significant risk due to the lack of legal protections for investors' funds. It can be conclusively stated that Carax FX is a scam. Therefore, we strongly suggest investors steer clear of it and instead opt for fully regulated brokers.
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