CySEC Flags Two Unlicensed Investment Platforms: greymax.net and finotivefunding.com

The Cyprus Securities and Exchange Commission (CySEC) has issued a new warning to retail investors, cautioning them against two online platforms—greymax.net and finotivefunding.com—for operating without the required investment services license.

Unlicensed and Unauthorized to Offer Investment Services

According to CySEC, neither of these websites belongs to an entity authorized to provide investment or ancillary services in accordance with Article 5 of Law 87(I)/2017, which regulates investment activity in Cyprus and across the EU under MiFID II provisions.

These platforms are not listed in CySECs official register of regulated firms, meaning they lack the legal standing to solicit investments, manage funds, or provide trading services to clients within Cyprus or the broader European Economic Area.

CySEC Urges Investors to Exercise Caution

Investors are strongly advised to verify a companys regulatory status through the official CySEC website (www.cysec.gov.cy) before depositing funds or opening an account with any financial services provider.

Engaging with unauthorized firms exposes investors to significant risks, including lack of legal protection, absence from compensation schemes, and potential fraud.

This announcement serves as part of CySECs ongoing efforts to protect retail traders from unregulated financial entities and investment scams posing as legitimate brokers.

What Should You Do if Youve Dealt with These Platforms?

If you have transferred funds or created an account with greymax.net or finotivefunding.com, you should:

• Cease further transactions immediately.
• Contact your bank or payment provider to assess options for fund recovery.
• Report the incident to CySEC or your local financial regulator.
• Use tools like WikiFX Broker Search to cross-check licensing status before trusting any broker.