The CyprusSecurities and Exchange Commission (CySEC) has flagged 21 websites operatingwithout proper authorization to offer investment services, adding to ablacklist that now includes hundreds of suspected fraudulent platforms. Among them were potential clones of two popular and regulated brokers.Theregulator published a warning today (Tuesday) identifying domains that do nothold licenses required under Cypriot law to provide investment services orconduct investment activities. CySEC Blacklist Grows AmidScam SurgeCySECmaintains a running list of unauthorized domains that has expandedsignificantly over the past year. The commission addedsimilar warnings in July 2025, and over the course of last year, it imposedfinancial penalties totalingnearly €3 million.Severalwebsites in the latest warning appear designed to mimic established tradingbrands. The domain avacaptal.com bears similarity to AvaTrade, a regulatedmulti-asset broker with licenses from European and Australian authorities.A potential clone may also be oneryolafx.co, whichbears a strikingly similar name and domain to OneRoyal, a licensed broker thathas been operating for more than 20 years.“We constantly remind investors that if somethingsounds too good to be true, then it probably isn't,” Dr. Giorgos Theocharidis, thehead of Cyprus’s financial regulator, issueda reminder and warning last month.Who’s on the List?Among all 21 domains reported by CySEC were: fernrise.com,market-trading.ltd, xmarktrades.com, veldorna.pro, pravintol.com,kingsoptiontrade.com, fasat-g.pro, capitaliko.com, finconnect.fr,avacaptal.com, elitesignalmarket.com, iqforextrade.net, metaindextrade.net,premiumwave.online, viptradersclub.com, stockforexinvestment.com,oneroyalfx.co, capitalinvestmentcentre.com, tradeshipglobex.com,cfdoptions.com, quantoria-markets.netMoreover, Quantoria-markets.net,included in CySEC's notice, has also been flagged by France's Autorité des MarchésFinanciers. The platform advertises automated cryptocurrency trading withpromises of high returns but operates without registration from recognizedfinancial authorities.Regulator UrgesVerification Before InvestingCySEC toldinvestors to check its website before conducting business with any investmentfirm to confirm whether the entity holds a valid license. The commission'spublic register lists all Cyprus Investment Firms authorized to provideinvestment services under Article 5 of Law 87(I)/2017.Theregulator has separately warned about fraudulentemails requesting payments for "trading certificates" or fundreleases while falsely claiming to represent CySEC. The commission said itnever requests or accepts payments from individual investors and does notauthorize third parties to collect such fees. Theregulator hadto pull its publicly available certification register from the internetbecause fraudsters were using information about licensed entities toimpersonate authorized professionals and firms.This article was written by Damian Chmiel at www.financemagnates.com.