Spain's regulator flags fake investment sites copying MyInvestor, XTB and others
Spain's CNMV warned that several websites impersonating MyInvestor, XTB and other firms are operating without authorization, urging investors to verify legitimacy.
The National Securities Market Commission (CNMV) published five warnings on 19 October about investment websites that falsely use the names of reputable firms. Clone addresses like panel.myinvestor-ltd.com and xtbespana.com are unrelated to MyInvestor Banco, S.A. or XTB S.A., and the regulator also identified unlicensed operators including Wexford Advisory Ltd, Diamond Capital and Global Rift. These entities are not authorised to provide regulated investment services, and only licensed crypto-asset providers may conduct certain activities under MiCA.
CNMV stresses that even professionally designed sites can be deceptive and urges investors to check its warning database and official registers to confirm a firm’s licensing status. No data on visitor numbers or investor losses were provided, but the alerts highlight the heightened fraud risk and the absence of consumer protection for unauthorised platforms.
Why it matters
It alerts investors to scams that could cause financial loss and offers steps to verify a platform's legitimacy.
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