Information on Armada Markets AS
Finantsinspektsioon (the Estonian Financial Supervisory Authority) would like to inform investors that Armada Markets AS (commercial registry code 12189652) does not hold an activity licence for the provision of investment services and therefore Armada Markets AS is not authorised to provide investment services in Estonia. The company offers the possibility to trade different derivatives on electronic trading platform available on its web page http://www.armadamarkets.ee.
When contacted by Forex Magnates, Armada Markets CEO Ingmar Mattus had this to say: ”Armada Markets AS does not hold a investment services license from the FSA but a forex brokerage license from the Estonian Ministry of Economic Affairs. The information on the Estonian FSA website is not a warning but a note saying that Armada Markets AS cannot provide trading with securities such as stocks, CFD-s, futures, bonds and other securities. With our current Ministry of Economic Affairs license we can provide trading with instruments such as spot FX. This is exactly what we are doing. We have been actively communicating with Estonian FSA and we have been told that the note on their website will be re-edited in the coming days as in current stage the claim that we provide trading with securities is not accurate. This can be confirmed by the Estonian FSA at any time.”
Information on NetStock OÜ
Finantsinspektsioon (the Estonian Financial Supervisory Authority) would like to inform investors that NetStock OÜ (commercial registry code 10949892) does not hold an activity licence for the provision of investment services and therefore NetStock OÜ is not authorised to provide investment services in Estonia. The company offers the possibility to trade different derivatives on electronic trading platform available on its web page http://www.forex.ee.
Information on My Trade Markets Ltd
Finantsinspektsioon (the Estonian Financial Supervisory Authority) would like to inform investors that My Trade Markets Ltd, a company registered in the British Virgin Islands (company register code 15871118) does not hold an activity licence for the provision of investment service, also is not registered by Finantsinspektsioon as a provider of cross-border investment services. My Trade Markets Ltd is therefore not authorised to provide investment services in Estonia. The company offers the possibility to trade different derivatives on electronic trading platform available on its web page http://www.mytrademarkets.com.
My Trade Markets Ltd may be business-related to My Trade Consulting OÜ, a company registered in Estonia (commercial registry code 12006918, web page http://www.mytrade.ee).
The list of companies authorised to provide investment services in Estonia can be found on Finantsinspektsioon’s web page http://www.fi.ee.
So why are these firms not being shut down?