CNMV Issues New Warning Against Unregistered Investment Platforms and a Clone Website

Spains securities regulator, the CNMV, has issued another warning against a group of unregistered entities offering investment-related services without authorization. The latest notice covers both standard investment-style platforms and at least one website identified as a clone of a legitimate financial company.

According to the regulator, none of the entities named in the warning are registered with the CNMV, which means they are not permitted to provide investment services or carry out regulated financial activity in Spain. One of the most notable names on the list is PROFARO TRADE, which the CNMV described as a clone linked to the Spanish investment company INNAT INVERSIONES SICAV SA.

Clone site and multi-domain platforms appear in the same warning

The latest list does not point to just one type of operation.

PROFARO TRADE (Clone), linked to profaro-trade.com, was specifically identified as a clone case. Alongside it, the warning also names GMC ULTRA APP, ELDROS LUTHARIS, WALTON MARKET, AAYOKX, LUMISTAR GLOBAL CAPITAL, CALYSTRON CAPITAL / CALYCAPTRADE, and EASY IBER.

Some of the platforms are tied to a single website, while others operate through multiple domains. ELDROS LUTHARIS, for example, is linked to several addresses, including:

• eldroslutharis.org
• eldros-lutharis.com
• eldroslutharis.es
• eldros-lutharis-app.com
• eldroslutharis-es.com
• eldroslutharis.info

That kind of setup is not unusual in this part of the market. Multiple domains can allow an unauthorized operator to keep traffic flowing, stay visible under different names, or continue reaching users even after one address comes under scrutiny.

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Professional website design does not equal authorization

The websites shown in the warning follow the structure often seen on retail trading platforms: landing pages, product sections, account-opening prompts, client-area entry points, and in some cases charts, trading dashboards, or AI-related marketing language.

Sites such as WALTON MARKET, EASY IBER, and ELDROS LUTHARIS look more like fully built broker websites than crude one-page scams. That polished presentation can make a platform appear more established than it really is.

But the CNMVs position is clear: these entities are not authorized. A complete website, professional layout, or broad product menu does not change the basic issue of whether the operator is actually registered and allowed to provide investment services.

The key issue is authorization, not presentation

The pattern behind these cases is familiar.

A platform builds a credible-looking public image through a full website, trading terminology, account-opening features, and sometimes multiple language versions. In some cases, it also strengthens that appearance by using several domains or by borrowing the identity of an existing legitimate company.

The regulatory test, however, remains simple: if the entity is not registered and not authorized, it cannot lawfully provide investment services. In clone cases, the risk is even more obvious, because the website is not only unauthorized but may also be using another companys identity to gain trust.

That is the main point behind the CNMVs latest warning: unregistered platforms, clone websites, and multi-domain operations can appear together in the same group of risks.

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