Brief Look at Navitas Markets
Navitas Markets is one of several brokers managed by Salvax Ltd, an offshore company that lacks a valid license. The broker began operations in 2017. The broker is not authorized to provide services in Europe and the United States, despite having offices in Cyprus and the United Kingdom. Navitas Markets received a warning from the Spanish regulatory authority CNMV (National Securities Market Commission). According to the CNMV, the company was providing financial services without authorization.
At the initial stage of its operations, Navitas Markets offered decent trading conditions. Many traders were satisfied with the quality of services and the variety of instruments. However, over time, Navitas Markets reduced the available financial assets, spreads noticeably increased, and problems with fund withdrawals arose. Navitas Markets was ultimately labeled fraudulent after shutting down and taking traders' funds. None of the clients ever got their invested funds back, despite numerous complaints to various authorities.
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