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What should I do if I want to know its licenses?
Mengay
Lebanon
2023-05-08
ANSWER ARIEL is an unlicensed broker that we advise against trading with, despite the seemingly attractive deals it offers.ARIEL's homepage prominently displays its LEI code, 549300ZGYRJJ6TOW3055, which is registered and can be verified in the Legal Entity Identifier (LEI) database. However, it's crucial to note that the LEI is a reference code — like a bar code — used across markets and jurisdictions to uniquely identify a legally distinct entity that engages in a financial transaction. It is not a license or authorization to operate legally in the financial services industry. According to the LEI website, ARIEL is owned by ARIEL SPF SA in Luxembourg. Brokers who wish to offer financial products or services in Luxembourg, as required by law, must obtain approval from the Commission de Surveillance du Secteur Financier (CSSF) to operate legally. However, ARIEL has not received any authorization from the CSSF to provide financial or investment services, as stated in the CSSF's warning. You can check the full warning here. As such, ARIEL is not supervised by the CSSF and is not allowed to offer any financial products or services in or from Luxembourg without the necessary authorization.Regarding your question, if you want to know its licenses, you can refer to our full review of ARIEL. We have confirmed that it is an unlicensed broker. Dealing with an unlicensed broker like ARIEL involves significant risks, such as fraud and identity theft, which could be financially and personally devastating. To avoid such risks, investors are encouraged to choose fully regulated brokers only.
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