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Does ISOTRADER regulated by CNMV?
Tien Dat NG
Spain
2024-01-04
ANSWER No, ISOTRADER is not licensed or regulated by the Comisión Nacional del Mercado de Valores (CNMV). This forex brand claims to be operated by Corny Solutions LLC, a company registered with the Financial Services Authority of St. Vincent and the Grenadines (SVG FSA). It is crucial to exercise caution when dealing with such a platform as it carries significant risks.The SVG FSA has explicitly stated that forex trading brokerage activities are not licensed or regulated by them. Mere registration with this offshore financial watchdog is not sufficient in supporting ISOTRADER's legitimacy in the forex market. Therefore, it is not actually regulated.What's more, the Hellenic Capital Market Commission (HCMC) issued a warning against ISOTRADER, stating it is not allowed to provide investment services on financial instruments, and/or to hold clients' funds in accordance with Greek law.Additionally, we discovered another forex brand, ApricusFX, which is also operated by Corny Solutions LLC. Its unlicensed investment services have also drawn a warning from the CNMV.Unfortunately, numerous victims have learned the hard way that trading with platforms that are merely registered with the SVG FSA can lead to fraud and identity theft. As such, we strongly suggest investors avoid ISOTRADER, as well as ApricusFX. To mitigate such risks, it is recommended to choose fully regulated brokers with solid reputations.
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