Continuing its series of warnings, the Spanish CNMV warns against AAOPTION and IB INVERSIONES. Why did the regulator make this decision? Are both AAOPTION and IB INVERSIONES unreliable?
19 January, AtoZForex – The Spanish financial regulatory body Comision Nacional del Mercado de Valores (CNMV) issues a warning against two new entities, which are not registered. CNMV warns against AAOPTION and IB INVERSIONES, confirming that the entities have no authority to provide investment services.
CNMV warns against AAOPTION
The watchdog updated its warning list today by adding AAOption which offers a while-labelled binary options platform from SpotOption. Also, the company operates through the website www.aaoption.com. However, the broker’s domain is not accessible right now.
Moreover, Pacific Sunrise LTD. owns AAOption and they are located at suite 305, Griffith Corporate Centre P.O. Box 1510, Beachmont Kingstown St. Vincent and the Grenadines. Also, the firm claims to have offices in London. However, it turns out to be not regulated by the UK Gambling Commission as a binary options provider.
CNMV IB INVERSIONES warning
The Spanish watchdog also added IB Inversiones to its warning list. The firm is offering investment services without having the authority to do so according to Article 140 of the Securities Markets Law. Also, the company operates through the website http://ibinversiones.com/. Moreover, the regulator recommends that investors avoid trading with this entity as it has no authority to provide investment advises or refer to brokers.
What does CNMV advise investors to do?
The CNMV advises Spanish investors and foreign traders to always check its registers. Not only theirs, but also the warnings lists of other European or International registers. Another sign of malpractice is when if the related broker uses aggressive marketing techniques that is already a bad sign.
Having added both AAOPTION and IB INVERSIONES to the Spanish warning list, it means that investors have to avoid any dealings with these firms. Considering that both firms have no authority to offer trading services to traders in Spain.
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