Spain’s regulator CNMV warns against Globalix
Spain’s financial markets and services regulator CNMV has issued a warning against Globalix. According to the public warning notice, Globalix is not authorized to provide investment services or investment advice and auxiliary services, including foreign currency transactions in Spain.
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. The regulator maintains a register with investment companies that are authorized to operate in Spain.
Globalix is a forex broker, owned and operated by Globalix Ltd. The company is based in the Marshall Islands, which means it is an offshore entity and there is a high risk for the customers when dealing with this firm.
The website mentions a contact phone number with a British country code, which means the company has been targeting people from this country. Although, the company is not licensed in the UK, and there is no regulatory body that monitors its activity to ensure it sticks to best practices.
Trading on Crypto Currency, Share or Forex is financial investment service, that needs to be regulated by your government’s regulator. In order to operate legally, investment firms need a license by the local relevant authorities or the authorities of any other EU member state. We strongly advise traders to select among brokerages authorized by reputable regulators, such as EU ones (FCA, CySEC) or Australia’s ASIC. You can read our review on this broker here.