The Central Bank of Ireland Has Warned the Public About These Brokers

The Central Bank of Ireland is warning the public about the following brokers. This regulator is focused on protecting consumers from unscrupulous brokers, and the skyrocketing number of frauds mean the list of flagged brokers is growing. 

To meet this challenge CryptoCoinTrace researches the brokers on this list and creates reviews that describe in-depth the reasons why these brokers are problematic. It’s worthwhile to check back regularly to make sure none of the financial services you deal with have been flagged by regulators.

What Does The Central Bank of Ireland Do?

The Central Bank of Ireland is responsible for regulating financial markets and ensuring there is free and fair competition. They also oversee financial services and companies operating in Ireland or who have Irish customers. Their task is to inform the public and warn consumers about questionable brokers and suspected scams. As a watchdog organization, they release updates of suspected brokers.

6 Reasons These Brokers Made The Central Bank of Ireland Scam Broker List

The Central Bank of Ireland issues public warnings against brokers for the following reasons. These are the most common red flags–there may be other problems as well. 

  • Licensing issues
  • Misleading statements
  • Non-compliance with regulations
  • Proliferation of customer complaints
  • Clone broker
  • Legal action against the company

Many of these brokers have licensing issues, such as no licenses, false statements about licenses or signing up Irish customers when they aren’t authorized to operate in Ireland. They may also have made misleading statements about their services or credentials. 

You may find that these brokers are suspected of not complying with regulations, whether these are national laws or rules established by the regulators. The Central Bank of Ireland may have received a huge number of customer complaints, which can cause them to flag a broker. 

A number of these brokers are clone brokers. Meaning that they have assumed a name that resembles that of a regulated broker in attempts to lure customers away from the legitimate broker. The Central Bank of Ireland will also inform the public if a financial service is facing legal action or if it is likely to become insolvent. 

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What You Should Do If You Have an Account with These Brokers?

If you currently hold an account with the following brokers, close it and demand an immediate withdrawal of all of your funds. If you do not receive a withdrawal from this broker contact CryptoCoinTrace experts. We consult with clients, advise them on claims and have the tools and methods to track down your funds. The sooner talk to us, the greater the chances of a successful claim!

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