CNMV warning on BK Trading and Safeklik


February 17, AtoZForex, Paris - La Comision Nacional del Mercado de Valores has two new members, as a CNMV warning on BK Trading and Safeklik has been issued. On February 15, two binary options broker firms in particular, made it to the Iberian financial watchdog's list for targeting Spanish clients without proper authorization from the regulator.

These alleged perpetrators, blacklisted by their domain names: www.safeklik.com/es/ and www.bktrading.com/es, respectively, have been issued a CNMV warning on BK Trading and Safeklik, thus dissuading all locals from doing business with them.

CNMV public warning/s

Safeklik for example, presents itself as "one of the leaders of online trading in Binary Options, Pair Trading and Forex Trading" with an address in London, 1A Arcade House, Temple Fortune, London, NW11 7TL, and somewhere in their site -although impossible to find it a second time- they claim to be regulated by the CySec.

eToro
98/100
eToro Review
Visit Site
Capital.com
96/100
Capital.com Review
Visit Site
xm.com
95/100
xm.com Review
Visit Site

On the other hand we have BK trading, another firm in binary options trading whose website seems to be down at the moment in which this article was written. Therefore making it very difficult to confirm any information regarding the firm.

All in all, we at AtoZ Forex always recommend to our avid readers, especially those interested in pursuing any investment opportunities, check with their local investment instrument regulator if their future broker has been issued any warnings of any sort. To learn more about the industry's main regulators swing by our Education page listed in the tab section above, paying particular attention when choosing your broker.

All too common!

Our latest story covering the CNMV public warning against binary options traders includes ImperialOptions and FXMarker for targeting clients without authorization, or the license to offer investment services in the Peninsula.

Despite the fact that one of the broker firms is regulated by the CySec (the financial regulator in Cyprus), it does not authorize the firms to contact potential clients elsewhere. In part this is due to the company's regulator and its limited jurisdiction.

In order for a broker to offer ANY investment services, it is imperative to have first passed through the local regulator. And it would appear that the firms failed to do just that! By making a Spanish language version of their website, they are essentially targeting clients in Spanish speaking countries. Hence, the CNMV warning on BK Trading and Safeklik was issued.

Think we missed something? Let us know in the comment section down below.

Leave a Reply

Your email address will not be published. Required fields are marked *