The Spanish financial regulator the Comision Nacional del Mercado de Valores (CNMV) blacklisted the unregulated forex broker Universal Markets, together with a few other scammers.
According to the regulator’s official warning, the company is not properly licensed by the relevant authorities but has been providing people with financial services.
Universal Markets claims to be owned by a company registered as Universal Markets Ltd. The broker provides false corporate information. What is more, this is not its first blacklisting – the Italian regulator CONSOB also issued one against them, as it often happens with scammers that continue to operate for a longer period of time and in different jurisdictions.
Source
The best way to avoid scammers like that is to always make sure you're dealing with a properly regulated company. Keep away from bucketshops with no license, regardless of how good their tradition conditions may sound.
According to the regulator’s official warning, the company is not properly licensed by the relevant authorities but has been providing people with financial services.
Universal Markets claims to be owned by a company registered as Universal Markets Ltd. The broker provides false corporate information. What is more, this is not its first blacklisting – the Italian regulator CONSOB also issued one against them, as it often happens with scammers that continue to operate for a longer period of time and in different jurisdictions.
Source
The best way to avoid scammers like that is to always make sure you're dealing with a properly regulated company. Keep away from bucketshops with no license, regardless of how good their tradition conditions may sound.
