BaFin: Beware of these companies offering financial services without a license-Zhen Huicha

BaFin: Beware of these companies offering financial services without a license

2024-04-07 15:47:35

abstract：German financial watchdog BaFin has issued a warning over the activities of two companies, one of which allegedly facilitates trading in contracts for difference (CFDs). Taurumax.com, a purported company based in Frankfurt and Vienna, has been accused by

German financial watchdog BaFin has issued a warning over the activities of two companies, one of which allegedly facilitates trading in contracts for difference (CFDs). Taurumax.com, a purported company based in Frankfurt and Vienna, has been accused by regulators of providing unauthorized financial and investment services.

According to BaFin, Taurumax.com, which claims to offer CFD trading services, is not authorized to provide financial and investment services in Germany. Despite claims of regulatory compliance, Taurumax.com's activities reportedly did not meet the standards set by BaFin. In Germany, entities providing banking, financial or investment services must obtain a license from BaFin in order to operate legally. The regulatory framework is designed to protect investor interests and maintain the integrity of the financial sector.

BaFin: Beware of these companies offering financial services without a license

Likewise, BaFin has flagged ApolloKapital.com for providing unlicensed financial services in Germany. Germany’s financial regulator has warned the public not to use services provided by ApolloKapital.com. Despite claims by ApolloKapital Ltd. Luxembourg, BaFin insists the company is not licensed by the agency.

BaFin mentions: "ApolloKapital Ltd., in the imprint on the website, describes itself as a subsidiary of Apollo Investment Holdco Sarl and in this context provides a commercial registration number. The company Apollo Investment Hodco SA is indeed registered here, but The corporate relationship described cannot be confirmed. This may be a case of abuse of identity."

Article Source：Forex website

Risk Reminder and Disclaimer：

[Kind reminder] The article is sourced from Aihuicha and is organized and published by Aihuicha. Reprint and indicate the source of the original text. The viewpoint of this article is not related to Aihuicha. It is read rationally and the copyright belongs to the original author. If you do not intend to infringe on media or personal intellectual property rights, please contact us and our website will handle it as soon as possible.