CVM prohibits yet another forex company from operating in Brazil.
On Thursday (17), the Securities and Exchange Commission (CVM) issued an order to suspend the activities promoted by Infinox in the country.
The company operated irregularly in the currency exchange (or forex) and Contracts for Difference (CFD) market.
In addition, Infinox also maintained an affiliate program, through which it recruited traders who assisted in irregular transactions.
Stop order.
CVM reported that Infinox and trader Arlindo Leonardo Pereira, associated with the organization, were not allowed to operate in the Forex and CFD markets.
According to the regulatory agency, the irregular capture of investors was made possible by social networks.
If the stop order is not met, a daily fine of R $ 1,000 will be applied to Infinox.
Trader influencer.
The trader recruited by the organization, in turn, also calls himself an instructor at FX1, a Forex company with CNPJ in his name.
Pereira presents himself as an expert in the financial market and maintains a channel with 6,500 subscribers on YouTube.
Through the network, the trader carries out analysis and tips on Forex applications in order to incite investors to the market.
In addition, Pereira offers a “Forex course – from basic to advanced” on the Udemy teaching platform.
Forex and CFD.
Companies that offer public investment contracts need to be aligned with the CVM.
In an official document, it states:
“The operations carried out in the Forex market involve trades whose result arises from the variation in the price of foreign currency pairs. CFDs and binary options are operations whose result is derived from the result of the assets on which they are based. Thus, these types of investments are considered derivatives, as defined in art. 2 of Law 6,385 / 76. ”
CVM and stop orders.
At least 16 stop orders from companies serving the Forex market in Brazil were published in 2022.
However, one of the most revered cases was that of Unick Forex. The company had its first complaint filed in 2022.
The municipality called on the company to issue securities without authorization. Subsequently, other complaints were investigated.
In 2022, the Superintendence of Market Relations and Intermediaries (SMI) formalized another accusation against the company. According to the organization, signs of billionaire fraud were identified.
Considered a case of a financial pyramid that raised more than R $ 1 billion, the Unick process is still ongoing and the executives involved have been released.
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