Aston Markets, based in Bulgaria, claims to be licensed by CySEC but apparently isn’t and never was.

Cyprus financial regulator CySEC has sent out a release warning investors against Sofia, Bulgaria-based Aston Markets. On its website, Aston Markets claims that it is “licensed by CySEC, regulated under MiFID, as well as the FSA, BdF, CONSOB, CNMV, and BaFin. [Google translation of the original in Bulgarian]. Aston Markets also claims to be an “official business representative Trade.com” — Trade.com is one of the FX brokers operated by Safecap Investments Limited, the CySEC-licensed parent company of Markets.com, ForexYard and binary options broker TopOption.

The CySEC release warns investors that Aston Markets is not regulated by CySEC, and indeed has never been authorized by CySEC.

Based on a quick search of some of the websites of the other MiFID-country regulator websites, Aston Markets is not listed at all (by either the FCA in the UK, BdF in France, BaFin in Germany, and CONSOB in Italy).

For the original CySEC release on Aston Markets click here (pdf).

For more on the global Forex industry see the LeapRate-Dow Jones Forex Industry Report.