Online trading has become increasingly popular in recent years. There are numerous providers of Forex and CFD Trading. However, not all online trading platforms are reputable and licenced.
Investors should therefore take a closer look at their potential contractual partner. First and foremost, you should pay attention to the imprint information. Is it complete? Where is the company registered? Does it have a licence from a European financial supervisory authority?
In many cases, companies without a licence are suspected of being Fraud and the transactions and profit opportunities are only faked. BaFin and other supervisory authorities regularly publish Warnings with regard to unlicensed companies. Traders should always ensure that the company they are considering has a licence in accordance with § SECTION 32 KWG available.
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