he main objective of performing the ‘suitability test’ is to obtain such information as is necessary for the Company to assess the investment objectives of the client, the client’s financial ability to bear any related investment risks consistent with his investment objectives, and whether the client has the necessary experience and knowledge in order to understand the risks involved in the transaction or in the management of trading.
The CNMV fines CaixaBank 2 million euros for an infringement in the sale of complex products.
The National Securities Market Commission (CNMV) has issued a resolution imposing a fine of €2 million on CaixaBank for a very serious infringement related to the assessment of the suitability of complex financial instruments for customers.
The fine, published on Thursday in the Official State Gazette (BOE), has been declared final in administrative proceedings, although it may be appealed before the Administrative Chamber of the National High Court.
The CNMV considers that CaixaBank committed a very serious infringement for failing to comply with article 214 of the Securities Market Law, which regulates the assessment that financial institutions must carry out to determine whether the product offered or requested by the customer is suitable for him.
Specifically, the supervisor considers that CaixaBank made an inadequate assessment of its customers concerning the suitability of complex financial instruments.
According to article 214 of the Securities Market Law, when services other than investment advisory or portfolio management services are provided, customers, including potential customers, must be asked to provide information on their knowledge and experience in the investment field corresponding to the specific type of product or service offered or requested so that the institution can assess whether or not it is suitable for the customer.
Furthermore, the law establishes that the institution must provide the client with a copy of the document containing the assessment made and when it considers that the investment product or service is not suitable, it must warn the client.
In case the investment service is provided about a complex instrument, the law requires that the contractual document must include, together with the signature of the client, a handwritten expression by which the investor states that he has been warned that the product is not suitable for him or that it has not been possible to assess him
AvaTrade's agents manage trading positions
.An agent called Melody called me saying she was an employee of AVATRADE, she opened an account for me with 250 euros and then tricked me by offering me a BONUS of 3000 EUROS and made me raise the account to 25000 euros and then opened a Death position for me. I have strong suspicions that this Melody is allegedly a member of the board of AVATRADE and her real name is allegedly Sari Hemmendinger, I ask the police in Ireland to investigate her and if it is proven that it is Melody that she returns the stolen money with damages and that she is sent to prison for the amount of the stolen money.
This AVATRADE agent called Melody, first opens an account in AVATRADE which supposedly has to be managed by me, and to gain my confidence, she calls me every day, I had just suffered an expropriation by the Ministry of Development to build a motorway, which very unfair and I was depressed. The question is that I can’t explain how I was able to give her remote control of my computer with the Anydesk programme for educational purposes to give me trading lessons.
First, she configures some positions for me to win, then she gives me a bonus of 3000 euros (Click HERE by increasing my initial balance from 250 euros to 18000 euros with the right to trading class, in one afternoon she configures me some positions that make me win a lot, but then he enters my computer and KNOWING that the Nasdaq was rising, SHE OPENS A SELL POSITION on August 20, 2020, at 14:00: 23 .Click HERE to see the graph where I have marked between two lines in red the death position that opened me saying “we are going to earn a lot of money”. In this graph, we can see that I had a balance of 33235.69 euros and the position she opened for me already showed a loss of 18164.63 euros. you can match the opening of that kill position with the call log of my mobile phone on that day 20 August, they are all phones starting with +39. Click HERE to see the screenshot of my cell phone showing the calls I had that day and we can observe that at 10:56 I had a call from the phone +39 023 3453 8404, at 11:05 he calls me again with the phone +39 091 890 1043, at 12:12 he calls me with the phone +39 091 890 1043, at 12: 12 she calls me with phone +39 081 851 851 2977:; at 14:40 she calls me with phone +39 030 6863 3906; at 16:42 she calls me with phone +39 011 937 7279 and at 178:50 she calls me with phone +390965644186.
If we look at chart 1 of the MetaTrader 4 Ava-Real 1: Real Account interface, we can see that the sell position with volume 1 of NASDAQ100 was opened at 14:23 during the call period. We note that all the telephone numbers have an Italian prefix.
When I see that this position is going to make me lose the whole account I ask her if I close it and he tells me NEVER CLOSE A POSITION IN RED, I ask her what I can do and she tells me to open positions against, that is to say buy, I am all night opening and closing buy positions, closing when it is at the highest point and opening when they start to rise buying, and that night I win 19000 euros but the next day I have to leave home and by the mobile I see that every time the account is going down, I ask her by WhatsApp if I close it and she answers me “NO” (Click HERE to see the screenshot of the WhatsApp). The next day my account appears with a balance of 4.96 euros as you can see in THIS SCREENSCAPTURE.
CLICK HERE to see the deposit of the bonus that appears with the order number 37175274 made on August 5, 2020, at 12:50. However, when I ask to transfer to my account in Spain 20000 euros to see if I could trust AVATRADE they transfer me the 2000 euros but they take away the bonus of 3000 euros as you can see in the order number 37563763 reallocate on August 21, 2021, with the description CANCEL BONUS, click HERE to see it. By the way, sirs of AVATRADE, you have denied me that Melody worked for AVATRADE, so how can she put a bonus and remove it? Another very important thing, gentlemen of AVATRADE, don’t you know that it is illegal to offer a bonus to the client to increase the balance of his account. Offering bonuses is another of the illegalities committed by the AVATRADE team.
By the way Melody normally used the WhatsApp with the phone number +44 7397 823051 and other times Melody has used the WhatsApp the phone number +44 7502 308409 and is identified as Ava Trade EU limited where I had always been contacted by a Laura and other times by Melody. The question is that when they stole me 40000 euros Melody disappears and this Laura sends me a message telling me that my 40000 euros have been lost in the Trading when I had all the positions closed and had requested the bank transfer. In THIS SCREEN CAPTURE from my cell phone, we can see THIS MESSAGE.
AVATRADE is a front for illegal scams and fraud trading platforms.
A disappointed partner of AVATRADE already told me that AVATRADE was a front for stealing from illegal platforms like Trade99 and AnalystQ.
And what a coincidence that I have gone through the whole COMPLAINT process that AVATRADE asks for and in the end, they tell me that AVATRADE has nothing to do with the theft and scam platforms like Trade99 and AnalystQ and that if I want to continue claiming I should go to the Virgin Islands of Great Britain.
AVATRADE tells me that Melody is not a direct employee of them, that she is an employee of one of their partners and that they cannot identify her because they do not have access to the database of their partners. This may be true, but THE DO HAVE to their partner, who in my case is GEORGE from the company EUROPETRADING, because each time I say in the official AVATRADE chat that they should call me, Melody always call me. One day I say in the official AVATRADE Chat I said that I HAVE WON THE LOTTERY (it is not true, it was a trick to see if they were biting) and immediately Marisa calls me and introduce her as AVATRADE partners of the company EUROPETRADING and when I tell her that I want to talk to Melody she passes me to George who says that he is more informed about this subject. Well, George says he can’t identify Melody either, but in the course of the conversation, it escapes him that he has heard all of Melody’s conversations with me. He is then indirectly telling me that Melody is one of his employees, because who can hear an employee’s recordings if not his boss? Click on the PLAY button below and you can hear the whole conversation.
Since I published the above evidence on this website last February with the article “I DENOUNCE AVATRADE FOR SCAM, FRAUD AND THEFT” Trade99 platform has stopped working and has been down since then with the message: “Trade 99 is temporarily offline. For inquiries please contact [email protected]”
José is also a person affected by the theft, fraud and scams of the AVATRADE partners and in the post called “AVATRADE-ANALYSTQ SCAM” I tell what happened to him which is the same as to me but with an assessor called Marisa, José recognized her voice in the conversation they had with me when they identified themselves as EUROPETRADING company and partners of AVATRADE, then it is clear, Melody and Marisa are employees of George and they have closed Trade99 but they have opened AnalystQ which by the way, the trading interface is the same as the one they used in Trade99.
As the names of Melody, Marisa and George are possibly invented and I do not have any identification I CLAIM THE AVATRADE TEAM as responsible because it was in AVATRADE where I met them and IT HAS BEEN PROVEN THAT THEY HAVE WORKED FOR AVATRADE. If AVATRADE has nothing to do with the thefts of its partners, why don’t you identify them to the police?
If the AVATRADE team were not involved in the thefts of their associates, the AVATRADE team would not hesitate to identify these thieving and swindling associates. But a disappointed AVATRADE partner told us that AVATRADE was taking 70% of all the thefts as can be seen in the graphs attached to this article:
AVATRADE TRADES WITH CRIMINALS.
It is simple logic, Melody introduces herself to me as an employee of AVATRADE and opens me an account on the AVATRADE platform, she gives me a BONUS of 3000 euros for increasing the balance, every time I asked in the official AVATRADE chat for Melody to contact me they called her and she contacted me. And when Melody ruins my official account in AVATRADE and steals 40000 from me saying it was for an account managed in AVATRADE and then takes it to Trade99, then Melody disappears. But one day it occurs to me to say in the official AVATRADE CHAT that I have won the lottery (click HERE to see the screenshot) and then a certain George calls me saying he is a partner of AVATRADE and although he says he cannot identify Melody throughout the conversation it slips out and he tells me that he has listened to all the conversations Melody has had with me, then indirectly he is telling me that he is Melody’s boss. CLICK HERE TO LISTEN TO THE CONVERSATION.
And when I put THIS CONVERSATION I had with George in the official Trade99 chat they tell me that George is one of their bosses. CLICK HERE TO SEE THE SCREENSHOT
Gentlemen of AVATRADE the conclusion of the most elementary logic, George is a partner of AVATRADE, Melody one of his employees, George is one of the managers of Trade99, then AVATRADE partners are bosses of Trade99, and AVATRADE does not want to identify those thieving partners, then AVATRADE is TRADE99. And if it is true what AVATRADE always answers me that they have nothing to do with it, THEN IDENTIFY YOUR PARTNER GEORGE RIGHT NOW
If AVATRADE does not identify its thieving partners is because the AVATRADE team takes 70% of the thefts of its partners, then the conclusion is also very simple AVATRADE IS THE COVER OF ILLEGAL TRADING PLATFORMS, OF SCAM, FRAUD AND THEFT.