Spanish Investors Should Beware of These Dangerous Forex Brokers

On December 16, 2024, six unauthorized forex brokers were warned by the National Securities Market Commission (Comisión Nacional del Mercado de Valores), the Spanish regulator.

The CNMV is the regulatory body that oversees the Spanish financial market. A broker that has been blacklisted by this watchdog is not authorized to legally provide financial services in Spain. This is also a warning to investors who may choose a broker that does not provide adequate protection for their funds.

Before making investment decisions, BrokersView recommends that investors carefully refer to the information provided by the regulator and scrutinize whether the broker maintains a record of good conduct under the regulator's regulation to avoid unnecessary troubles and risks.

The Securities Market Act states that the following brokers are not authorized to provide investment services, foreign currency transactions, or related financial instruments.

FxAlta

Website: https://www.fxalta.com/

Xpoken

Website: https://xpoken.com/

Traders Home

Website: https://www.tradershome.com/

Greendax

Website: https://fr.greendax.org/

InvestingCy

Website: https://investingcy.com/

Titan FX

Website: https://www.titanfx.com/