Dutch financial regulator, AFM issued warning against Unlicensed Brokers

The Dutch Authority for the Financial Markets (AFM), the Netherlands' financial regulator, has issued a public warning against several unlicensed brokers and financial service providers. Checkout the list below.

· blitz365finance.org

· JetOnyxLegacy

· GIC Crypto Investment

· LuxNordic

· Superswiss

· Tradedigital-pro

· Silver FX

· TitansBenefit

· Tradevistox

· T.M. Financials Ltd / Tag Markets Ltd

· Frankly Trader Fx

Why You Should Take this Warning Seriously?

The move is part of the AFM's ongoing effort to protect investors from potential fraud and significant financial risks associated with unregulated firms. The regulator is urging consumers to exercise extreme caution and to always verify a company's regulatory status before engaging in any financial transactions.

Ignoring a warning from the Dutch Authority for the Financial Markets (AFM) can have serious financial consequences. Unlicensed brokers operate outside this regulated framework, which means they are not subject to the strict rules on transparency, investor protection, and due diligence that licensed firms must follow.

How to Stay Away from Scam Brokers?

1. Check Regulatory Status

Always verify if the broker is licensed by a recognized authority (e.g., SEBI, FINMA, FCA). Regulated brokers must follow strict rules to protect investors.

2. Avoid Unrealistic Promises

Be cautious of brokers offering guaranteed profits or high returns with little to no risk. These are classic red flags.

3. Verify Contact Information

A legitimate broker will have a physical office, working phone numbers, and professional email addresses. Scam brokers often hide behind vague or fake contact info.

4. Read Online Reviews and Complaints

Search for user feedback, reviews, and scam alerts. Multiple negative reviews or unresolved complaints are warning signs.

5. Test Customer Support

Contact their support team with questions. Poor or evasive responses could indicate a scam.

6. Beware of Pressure Tactics

If a broker pushes you to deposit quickly or invest large amounts, take a step back. Scammers often use urgency to trap victims.

7. Check Withdrawal Policies

Scam brokers usually make it hard to withdraw your money. Read the fine print and look for hidden fees or restrictions.

8. Look for Secure Payment Methods

Use brokers that offer secure, traceable payment options. Avoid those who insist on crypto or wire transfers to unknown accounts.

9. Confirm Website Legitimacy

Scam brokers may copy the design of real firms. Double-check the URL, company registration, and official listings.

10. Register Your Complaints

If you face issues with a broker or suspect unfair or fraudulent practices.