Erscheinung:09.12.2020 | Topic Unauthorised business Pulse Markets Ltd./trading platform pulstrade.com: BaFin prohibits unauthorised proprietary trading
In notices dated 6 November and 23 November 2020, BaFin ordered Pulse Markets Ltd., Mauritius, which operates the trading platform pulstrade.com, to immediately cease its unauthorised proprietary trading activities.
The platform pulstrade.com offers German customers the opportunity to trade in contracts for difference (CFDs) and forex products with Pulse Markets Ltd.
The operator of this platform is thus conducting proprietary trading within the meaning of section 1 (1a) sentence 2 no. 4 (c) of the KWG on a commercial basis. Neither the trading platform nor its operator hold the authorisation required under section 32 (1) of the KWG; this therefore constitutes unauthorised business. A licence reportedly issued in Mauritius is not sufficient. According to information available to BaFin, the company has a further (alleged) business address in the United Kingdom.
