28 September, AtoZForex.com, Lagos – CySEC warning bell has rung for the second time against Fundsaver services Ltd. Marking another warning in less than a month against the firm. The first warning was issued against a foreign brand of Fundsaver services Ltd, and now In just a time period of one month, CySEC second warning against Fundsaver services Ltd. has been issued, namely upon its 500option brand.
The Cyprus financial watchdog has confirmed that Fundsaver services Ltd and all its related firms are unauthorized to carryout services in the region. The company is not licensed to provide investment and ancillary services in Cyprus, it is also not allowed to pursue investment services and activities according to the Cypriot regulator.
CySEC denies affiliation
The regulators clearly stated that 500options has never been authorized by the Commission. Ιt is not a bank or a cooperative firm, established in the Republic and authorized to provide such services. No notification has been received by a competent authority of another member state, pursuant to sections 77 and 80 of the Law.
The firm claims to have been formed by a group of traders, investors and technology experts, who have combined their skills and knowledge of the highly exciting financial market. In order to build a company of excellence. The regulator has warned the public not to risk doing business with such a firm, irrespective of its claims. Hence, prompting the warning against 500option and Fundsaver.
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