Spain’s CNMV warns of unregulated forex broker FXNobels
Spain’s financial markets regulator, CNMV, has warned of Forex broker FXNobels. According to the official notice on CNMV’s website, this entity is not registered in the corresponding registry of the commission and, therefore, are not authorized to provide investment services.
The National Securities Market Commission (often abbreviated as CNMV) is the Spanish government agency responsible for the financial regulation of the securities markets in Spain. It is an independent agency that falls under the Ministry of Economy, Industry, and Competitiveness.
FXNobels specializes in Forex, Stocks and Cryptocurrencies trading and operates through the website www.fxnobels.com. The company doesn’t disclose any information about the company behind the brand’s name as well as its regulation, which makes us think FXNobels is not regulated at all. According to the website, the broker is located in Malta, however, there is a warning against this broker from the Maltese regulator Financial Services Authority, stating that FXNobels purports to operate from an address in Malta, the regulator confirms that this is not the case.
To add up, we have found numerous negative reviews from FXNobels customers on the net. People state that they cannot get their money back and the company refuses to provide any kind of help.
When choosing a new Forex broker, it is very important to verify that they are in fact licensed for investors from your country of residence. Trading with a licensed broker ensures you will not have issues withdrawing your investment. The most trustworthy brokers are those registered with such regulators as FCA in the United Kingdom and ASIC in Australia. You can read our review on this broker here.