Poland's KNF Adds AvaTrade to Its Warning List

The Polish Financial Supervision Authority, known as Komisja Nadzoru Finansowego (KNF), a financial regulatory authority responsible for supervision of the financial market in Poland, has added seven other entities to its list of warnings.

According to the Polish watchdog, Dublin-based AVA Trade EU Limited and the company's Polish branch, operating via the avatrade.com platform, were entered on the list of warnings. The regulator cited that the 'entity is not registered in Poland', thus it cannot offer services to Polish clients.

AvaTrade is headquartered in Dublin, Ireland, and runs its European operation under its license obtained from the Central Bank of Ireland. The broker passports its Irish license to run its operations across the European Economic Area (EEA). That means, it normally does not require a local license from the KNF to offer services to Polish clients.

The list of warnings also includes: Marketbull (marketbull.co.uk), Viamarketsgo (viamarketsgo.com), Royal-Trades (royal-trades.com), Bulls & Bears Trades (bullsbearstrades.com) and Greenfield Investment (greenfieldinvestment.co.uk).

Earlier this year, the KNF issued a warning against Binance Markets Limited, a subsidiary of cryptocurrency exchange Binance, stating that the company cannot conduct crypto-related activities in the country as cryptocurrency is neither regulated nor subject to supervision in Poland.