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Stock Market Commission adds six investment projects to list of dubious ones

KYIV. Jan 25 (Interfax-Ukraine) – The National Securities and Stock Market Commission has added AMarkets online broker, AvaTrade brokerage company, HFM/HF MARKETS multi-asset broker (formerly known as HotForex), XM, instaforex and to the list of dubious investment projects.

"Once again, we remind potential investors of the significant risks associated with investing through persons whose activities in our country are outside the zone of regulation and supervision," the Commission said in a statement on Tuesday.

According to information on the regulator’s website, after the update, the list of dubious investment projects includes 151 names.

"In order to protect the rights of consumers of financial services, the Commission systematically monitors the activities of dubious investment projects, the purpose of which is to seize the funds of citizens of Ukraine by providing information on investing in various financial assets and activities without appropriate permits," the Commission said.

Earlier, the Commission reported that the signs by which an investment project may be considered suspicious include the lack of appropriate permits and licenses, aggressive marketing, the absence of a physical office, and suspicious biography of employees.