The Cyprus Securities and Exchange Commission (CySEC) has
flagged ten unauthorized investment websites operating without proper
licensing, with Markets Vox, a recently launched prop trading provider, notably
among them.
Cyprus Financial Regulator Issues Warning against Ten Unauthorized Investment Websites
The regulatory body identified several unauthorized
platforms including surgirux.pro, nasanetac.com, a-eternitycapital.ltd,
marketsvox.com, rohkatech.com, asteo-group.com, elegantopex.com, ewripro.com,
haystdq.com, and eldenstrade.com. None of these entities possess the required
authorization under Article 5 of Law 87 (I)/2017.
This marks another major update to CySEC‘s warning list in
the past two months, primarily targeting CFD sector entities. The inclusion of
Markets Vox is particularly noteworthy given their recent entry into the prop
trading space.
MarketsVox and MVFunded Operations
MarketsVox, a Seychelles-licensed broker, launched its prop
trading firm MVFunded in October. The company operates in partnership with MV
Technologies, a Cyprus-based entity handling payment processing.
🚨Whilst most brokers and evaluation firms across the market experienced pricing and liquidity issues in GOLD (XAU/USD) yesterday with spreads expanding out to 200 points at times @mvfunded and @marketsvox_ managed to stay below 24 points at ALL times!.Trade with a trusted and… pic.twitter.com/c93iIjQ2pS
— MVFunded (@MV_Funded) December 12, 2024
Earlier last year, the company rebranded from ForexVox to
better reflect its expanded investment product offerings.
The reason for its inclusion on the warning list is
straightforward: MarketsVox, like the other nine entities warned against by
CySEC this week, lacks the necessary regulatory authorization from the Cypriot
watchdog.
This article was written by Damian Chmiel at www.financemagnates.com.
Source link
