Another Forex broker on the KNF's list of warnings

The Polish Financial Supervision Authority has entered a new entity on the list of public warnings - it is a broker CFD1000 Limited.

CFD 1000 Limited on the list of public KNF warnings

According to the data presented on the website, the company's registered office is in the Dominica Community. This means that running Forex activities does not require any licenses and regulations from local institutions. However, this does not authorize the broker to operate in Poland (including marketing campaigns) and to open investment accounts for Polish residents.

Read: 5 features a secure Forex broker

The broker's offer (at least on paper) is average, and it could be summed up that this is another broker based on a simple business model using the MetaTrader 4 platform. However, the content in Polish which we find on the broker's website raises strong concerns about its reliability and offered quality of services.

Fragment of the translation from the CFD1000 site:

Open your account now. Start trading. forex, stocks, commodities and indices. from the best MT4 trading platform. CFD1000 credit cards and free Autochartist.

Website blockade?

UKNF, according to introduced changes in the law at the end of April this year, is authorized to take actions that will, as a last resort, block the website of suspected brokers from Polish residents. One of the conditions that must be "met" by such an entity is to be on the list of public warnings.