**Cyprus Regulator Flags Nine Unauthorized Online Investment and Crypto Platforms**
The Cyprus Securities and Exchange Commission (CySEC) has issued a formal warning to investors regarding nine online trading and cryptocurrency platforms that are operating without the necessary regulatory approvals. This alert comes as part of CySEC's ongoing efforts to protect investors from potential fraud and unauthorized financial activities.
In its announcement, CySEC confirmed that the flagged websites do not belong to any entities authorized to provide investment services or conduct investment activities in accordance with local legislation. Specifically, the platforms in question lack the legal clearance required by Article 5 of Law 87 (I)/2017, which governs investment services in Cyprus. Additionally, these platforms are not authorized to offer crypto-asset services as stipulated by Article 59 of Regulation (EU) 2023/1114.
Among the platforms identified in the warning is amazon-forex.com, which claims to offer foreign exchange trading services without valid regulatory oversight. Other unauthorized operations include novatradecore.com and vall-fin.com, both of which are also listed in the regulatory alert. The warning further extends to daoroyal.com, seamanfx.com, and newfuturevip.com, all of which are operating outside the legal framework established by CySEC.
The public notice also highlights trademarketcup.com and the mobile application portal fxtrade.app as unauthorized platforms. Additionally, two linked web addresses, capitaldealhub.com/AI_app_es and digiteamagency.com/second-income/, were identified as operating illegally.
In light of these findings, CySEC has strongly urged investors to exercise caution and to thoroughly verify the credentials of any online trading or investment platforms before engaging in financial transactions. The commission emphasized the importance of consulting its official portal to check the legitimacy of financial firms. By accessing the official register, potential clients can determine which entities hold valid licenses to provide investment services or crypto-asset services within the jurisdiction of Cyprus.
CySEC's proactive approach in identifying and warning against unauthorized platforms underscores its commitment to maintaining the integrity of the financial market in Cyprus. Investors are encouraged to remain vigilant and informed to safeguard their investments from potential risks associated with unregulated entities.