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On January 18, 2021, the Spanish regulator CNMV issued an investor warning against CLMarkets a/k/a Core Liquidity Markets (www.clmforex.com). The operator of the scam and owner of the broker acting without authorization is allegedly CLMarkets Ltd, registered in St. Vincent and the Grenadines. The beneficial owners are US guys. As a payment processor, we have once again discovered Ran Cohen‘s BridgerPay, through which you can pay with credit and debit cards, Neteller and VLoad.
According to articles published in Finance Magnates and AtoZ Markets in September 2020, CLMarkets was founded in the United States in or around 2013 as Core Liquidity Markets by Carlos Cadavid (LinkedIn) and Maya Solombrino (LinkedIn). According to their LinkedIn profiles, both are partners in the broker, with Cadavid stating he is Managing Partner of Core Liquidity Markets Pty Ltd, a company registered in Australia. The broker appears to be focused on Europe and South America. Most people linked to the broker on LinkedIn are based in South America.
CLMarkets definitely does not have a license to offer financial services or investment services in Europe. It does so illegally facilitated by BridgerPay, which processes payments despite existing warnings from EU regulators. Is CLMarkets also a scam or “just” an illegally operating scheme? Most certainly, it may be a scam, too, given the offshore entity and some client feedback we received.
