Erscheinung:29.05.2024 | Topic Unauthorised business, Consumer protection BaFin warns consumers about the websites tradingprofinancial.com and activ-fx.com
The Federal Financial Supervisory Authority (BaFin) warns consumers about the services offered on the websites tradingprofinancial.com and activ-fx.com. According to information available to BaFin, the operators are providing financial and investment services on these websites without the required authorisation.
The operators refer to themselves simply as TradingProFinancial and ActivFX and provide no information regarding their legal form. They give no specific business addresses and simply state that they are domiciled in London, United Kingdom. There is no legal notice on the websites, which are almost identical and begin with the following sentence: “Step Up Your Trading with [name of operator]”
Anyone providing financial and investment services in Germany may do so only with authorisation from BaFin. However, some companies offer these services without the necessary authorisation. Information on whether a particular company has been granted authorisation by BaFin can be found in BaFin’s database of companies.
The information provided by BaFin is based on section 37 (4) of the German Banking Act (Kreditwesengesetz – KWG).
Please be aware
BaFin, the German Federal Criminal Police Office (Bundeskriminalamt – BKA) and the German state criminal police offices (Landeskriminalämter) recommend that consumers seeking to invest money online should exercise the utmost caution and do the necessary research beforehand in order to identify fraud attempts at an early stage.