CySEC warns of fraudulent investment websites, urging investors to verify licensing before making financial decisions.
CySEC warns of fraudulent investment websites, urging investors to verify licensing before making financial decisions.
The Cyprus Securities and Exchange Commission (CySEC) warns of fraudulent investment websites falsely presenting as legitimate firms. CySEC has not registered these sites, including WeonMarket, Nortenway, and PrimusCFD, and suspects them of fraudulent operations that could harm unsuspecting investors.
CySEC’s alert specifically identifies several websites and associated platforms that pose a risk to investors. Notably, these include WeonMarket (with its platform at dashboardweonmarket.live), Nortenway (cfd.nortenway.com), PrimusCFD (client.primuscfd.net)
The regulator also pointed out several additional suspicious sites, such as Axiagroup.co, OctaMarketFX, Apmetrade, and Investous.pro. These fraudulent entities attempt to deceive users by imitating licensed financial firms and using similar branding, logos and even addresses to appear legitimate. Many of these websites are suspected of being “clone firms,” which are deceptive copies of actual companies.
These impostors often create nearly identical websites and branding to confuse investors into thinking they are dealing with a legitimate, licensed entity. A prime example is octamarketfx.com, recently added to the warning list. The website uses the name and branding of the globally licensed broker OctaFX but has no affiliation with the firm. In response to the warning, OctaFX issued a statement clarifying that octamarketfx.com is a fraudulent site that uses its brand without authorization.
The company emphasized that its official website is octafx.com, and EU residents cannot register there. The firm confirmed that they are taking legal action to remove the deceptive site from circulation.
CySEC has urged investors to exercise extreme caution when considering online investment opportunities and to verify the legitimacy of any platform by consulting its official website. The regulator stresses that anyone unsure of a platform’s authorization should check its licensing status before investing.
In Conclusion, CySEC urges investors to remain vigilant and verify the legitimacy of any investment platform. Fraudulent websites can easily deceive unsuspecting individuals, leading to financial losses. Always consult CySEC’s official site to confirm licensing before making investment decisions.
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