Erscheinung:21.08.2024 | Topic Unauthorised business, Consumer protection BaFin warns consumers about the series of platforms with the slogan “Step Into the Trading Arena with Confidence”
The Federal Financial Supervisory Authority (BaFin) has for some time been warning consumers about online trading platforms that use the introductory statement “Step Into the Trading Arena with Confidence & [name of website]”. According to information available to BaFin, financial and investment services are being provided on these websites without the required authorisation. All of these websites feature the same font, almost identical textual design and structure.
BaFin now also warns against the following platforms, which make use of the same slogan and are largely identical:
- marketglobalfx.com, no information on registered office
- cmginternal.top, alleged registered office in London, United Kingdom
- swiss-cap.io, alleged registered office in London, United Kingdom
- luno-invest.org, alleged registered office in London, United Kingdom
- trademastercfd.com, allegedly operated by Apex Ventures Ltd, Majuro, Marshall Islands and/or GroupUp Green LLC, Kingstown, Saint Vincent and the Grenadines
- eu-trade.org, alleged registered office in London, United Kingdom
Anyone providing financial or 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 authorised by BaFin can be found in BaFin’s database of companies.
Theinformation 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.
