Six online trading platforms blacklisted by SEC

By Sola Omoniyi, Lagos

Security and Exchange Commission has blacklisted six online trading platforms as part of a campaign against unlicensed illegal businesses.

According to a release by the commission on Monday in Abuja, the platforms were allegedly illegally offering financial and investment services and products.

It was reported that the platforms were not registered with SEC.

SEC stated that using online e-commerce websites comes with its own risk.

It could be recalled that the Italian securities watchdog Commissione Nazionale, CONSOB, had previously issued a warning against doing business with an unverified group of companies.

The blacklisted platform includes; Prime Invest and “Primeinv.co,” FXBoxed, New Finance LLC and New Fx Limited, Axi24, Evolve Consulting LCC, and Trust Fund- Mining Global Pty Limited among the companies it listed.

However, the mentioned e-commerce businesses and their websites that provide online trading platforms to the investing public have been blacklisted by the Commission.

The Commission urged the general public to exercise caution when making investment decisions.