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Globtrex on the KNF's list of warnings
The Polish Financial Supervision Authority has announced that a new entity has been placed on the list of warnings - a company known in Poland as Globtrex.
Better late than never
The full name of the entity that has been added to the list is Coverdeal Holdings Limited. It is true that this company has the appropriate license issued by the Cypriot regulator CySEC, but the announcement shows that it provided investment advisory services in Poland without the so-called notification of Polish supervision.
Communication from the PFSA:
Art. 178. Act on Trading in Financial Instruments
Anyone who conducts business in the field of trading in financial instruments without the required permit or authorization contained in separate regulations, or not being authorized to do so in a manner specified in the Act, shall be subject to a fine of up to PLN 5.
Art. 69. Act on Trading in Financial Instruments
(...)
2. Brokerage activities, subject to Art. 16 sec. 3 and art. 70, includes the performance of activities consisting in:
(...)
5) investment consulting;
The appearance of Globtrex on the KNF list was only a matter of time. Traders on the network have complained about unethical activities on the part of the company for several months in the form of inciting investments in telephone contact.
The broker's offer is wide. They offer as many as three investment platforms, including MT4 and MT5, as well as trading on many instruments - from currencies to CFDs on bonds. On the Polish version of the website, in the contact tab, there is a contact number suggesting a Warsaw location (+48 22 ...).
