Investor warning against crypto derivative broker Margex!
The Spanish regulator CNMV has issued a warning against crypto derivatives broker Margex (https://margex.com). On its website, Margex claims that the so-called MP Shield system would protect clients from price manipulation on the crypto market. How this is supposed to work is not explained. The offshore broker offers leverage of up to 100:1, which is significantly higher than the maximum leverage of 2:1 allowed by ESMA. Margex is very active on Twitter, YouTube, and Facebook and deploys an aggressive affiliate and referral system to chase new clients.