Polish Regulator Adds Dublin-Based AvaTrade to Warning List

The Polish Financial Supervision Authority, locally known as Komisja Nadzoru Finansowego (KNF), has recently added a few financial services firms to its warning list that include forex and CFDs broker AvaTrade.

The Polish watchdog has added Dublin-based AVA Trade EU Limited, as well as the Polish branch of the broker, to the long list of locally red-flagged companies. To justify its decision, the regulator cited that the ‘entity is not registered in Poland’, thus it cannot offer services to Polish clients.

The warning also specified that the broker is providing its services through the domain avatrade.com.

AvaTrade has acknowledged the addition of its name to the KNF warning list and will provide further details after an initial investigation.

A Well-Regulated Broker

AvaTrade is headquartered in Dublin, Ireland, and runs its European operation under its license obtained from the Central Bank of Ireland. The broker passports its Irish license to run its operations across the European Economic Area (EEA). That means, it normally does not require a local license from the KNF to offer services to Polish clients.

Apart from Ireland, the broker is also regulated in Australia, Abu Dhabi, Japan, and the British Virgin Islands.

The Polish regulator’s warning list includes names of more than 400 big and small financial service providers. Along with AvaTrade, the KNF also added names of five other platforms in the list: Marketbull, Viamarketsgo, Royal-Trades, Bulls&Bears Trades, and Greenfield Investment.

Almost all reputed regulators across the globe are now actively monitoring the financial services industry and flagging companies for violations. Most of the warnings go against shady and unregulated platforms, and some regulators even block access to the domains of these platforms at the network level.