The Cyprus Securities and Exchange Commission (CySEC) has issued a warning to investors regarding a number of online platforms offering investment services without the required authorisation.

In a statement, CySEC said the listed websites do not belong to any entity that has been granted a licence to provide investment services or carry out investment activities under Article 5 of Law 87 (I)/2017.

The regulator named the websites as follows: fernrise.com, market-trading.ltd, xmarktrades.com, veldorna.pro, pravintol.com, kingsoptiontrade.com, fasat-g.pro, capitaliko.com, finconnect.fr, avacaptal.com, elitesignalmarket.com, and, at the time of publication, iux.com.

It also listed iqforextrade.net, metaindextrade.net, premiumwave.online, viptradersclub.com, stockforexinvestment.com, oneroyalfx.co, capitalinvestmentcentre.com, tradeshipglobex.com, cfdoptions.com and quantoria-markets.net.

CySEC emphasised that none of these websites is authorised to provide investment services or perform investment activities within the framework of the relevant legislation.

“CySEC urges investors to consult its website, before conducting business with investment firms, in order to ascertain the entities, which are licensed to provide investment services or investment activities,” the commission said.

The warning comes as part of CySEC’s ongoing efforts to protect investors from fraudulent schemes and unregulated entities that could pose financial risks to the public.

The commission reminded the public that engaging with unlicensed platforms carries significant risks, including the possibility of losing invested capital without any legal recourse.

Update on IUX

Following the publication of the warning, IUX notified the Cyprus Mail that “is no longer listed on the regulatory warning list, following a complete review and verification process with the relevant authorities”.

“Our company has complied with all required procedures and has been confirmed to have no wrongdoing,” it added.