NBS warning: FOREX robots

02. 03. 2017 | Press Release of the NBS

Národná banka Slovenska warns the public about the activity of companies engaged in the sale, development and distribution of software solutions that offer trading on the foreign currency market (FOREX).

FOREX robots are software solutions that usually work as a superstructure for standard business platforms, e.g. the popular Metatrader. To activate these FOREX robots, the logins and passwords of a client's trading system must be made available to a seller, i.e. to a third party, during installation. Clients must be aware that such disclosure opens their trade account to third parties.

Národná banka Slovenska points out that FOREX robot providers can provide investment services and investment activities via this software package, and therefore they need to have the relevant authorization from Národná banka Slovenska. A list of entities authorized to provide investment services and investment activities in Slovakia is available on NBS's website: https://subjekty.nbs.sk.

Národná banka Slovenska has long warned persons investing in financial markets to consider carefully with whom they enter a contractual relationship. The NBS also recommends a thorough consideration of all the risks related to investment, including clients' financial situation, investment preferences and ability to sustain potential losses.

National Bank of Slovakia
Communications Section
Imricha Karvasa 1, 813 25 Bratislava, Slovak Republic
Tel.: +421-2-5787 2142, +421-2-5865 2142, +421-2-5787 2169, +421-2-5865 2169
Internet: http://www.nbs.sk

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