BaFin, the German Federal Financial Supervisory Authority, recently announced an investigation into StackFX Markets Ltd, Seychelles (hereinafter referred to as "StackFXMarkets") for providing unauthorized banking and financial services in Germany.

According to the official announcement, according to Article 37 (4) of the German Banking Act (KWG), any company providing banking or financial services in Germany must obtain authorization from BaFin, and StackFX Markets is not regulated by BaFin.

In addition, when introducing themselves to clients, StackFX Markets falsely claimed to have connections with the Cyprus company Stak FX Ltd, or advertised themselves as Stak FX Ltd, which is already registered with BaFin.

Based on the information provided by the stacefx.com website and the information and documents held by BaFin, StackFX Markets is suspected of conducting banking business and/or providing financial services in Germany without obtaining necessary authorization.

BaFin stated that investors can find information on whether a company has obtained BaFin authorization in their company database. In addition, BaFin, the German Federal Criminal Police and the German State Criminal Police suggest that investors should maintain high caution when making online investments and conduct necessary investigations in advance to avoid being deceived.