In less than two weeks time, the Forex firm has managed to spark concerns in three jurisdictions, with the latest warning coming from Spain’s CNMV.
Forex firm Broker Capital gets third regulatory warning
Shortly after Belize Forex firm Broker Capital made it to the warning lists in Ontario and British Columbia, the company has triggered a similar notice from the Spanish securities regulator CNMV.
The Spanish watchdog has issued a public warning regarding Broker Capital (www.brokercapital.com), saying that the company is not authorized to offer any sort of investment services, including provision of investment advice and trading in foreign exchange, to Spanish residents.
This is the third time that the FX firm gets such a warning in less than two weeks. The British Columbia Securities Commission (BCSC) has stressed in its warning, that Broker Capital representatives are making unsolicited phone calls to residents of the Canadian province, urging them to open an account with the company.
The bottom line for investors is to stay vigilant and to check with their local regulator whether the company whose services they plan to use is properly authorized.
To view the full text of the warning from the Spanish regulator, click here.
David Hobart
David Hobart is Managing Director of FinAffiliates Limited, the UK media group behind LeapRate, AskTraders and a network of more than 30 financial and trading titles published across several languages and regulated markets. He writes on the commercial side of the industry: broker marketing, client acquisition, affiliate strategy and the editorial standards that hold it together. He is based in North Norfolk.
