Erscheinung:24.04.2024 | Topic Unauthorised business, Consumer protection BaFin warns consumers about website: tradexerts.com
The Federal Financial Supervisory Authority (BaFin) warns consumers about the services offered on the website tradexerts.com. According to information available to BaFin, the operator is providing financial and investment services on this website without the required authorisation.
The operator refers to itself as “Tradexperts” or “Trade Exerts” and provides an address supposedly located in Los Angeles, USA, as its registered office. The operators of the websites metalfuturesx.com, forex5.me, ftmogul.com and mattaforex.com supposedly have their registered offices at the same address. Doubts exits as to whether this address actually exists.
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 authorised 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.
