Spain’s securities regulator, the Comisión Nacional del Mercado de Valores (CNMV), placed two online trading businesses on its warning list in November 2019: DAX1001 and ICE-FX.
The warnings said the named entities were not registered with the CNMV and were not authorised to provide investment services in Spain. The notices remain searchable in the regulator’s public database. They do not, by themselves, establish a criminal conviction, prove that client money was misappropriated, or quantify investor losses.
What the CNMV warned about
| Business | CNMV warning date | Names or websites identified | Regulatory finding |
|---|---|---|---|
| DAX1001 | November 4, 2019 | One Thousand One Ltd; One Lable Limited Ltd; dax1001.com |
Not entered in the relevant CNMV register and not authorised to provide investment services in Spain |
| ICE-FX | November 11, 2019 | ICE-FX Markets Limited; ice-fx.com |
Not registered with the CNMV and not authorised to provide investment services in Spain |
The underlying records can be checked directly in the CNMV notice for DAX1001 and the CNMV notice for ICE-FX. The regulator’s database continues to show the DAX1001 entry dated 04/11/2019 and the ICE-FX Markets Limited entry dated 11/11/2019 under unauthorised entities.
What the ICE-FX notice covered
The ICE-FX warning was broader than simply naming a website. It identified ICE-FX Markets Limited and said the company was not authorised to provide the investment services covered by Article 140 of Spain’s then-applicable Securities Market Law, or related auxiliary services under Article 141.
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The notice specifically referred to services such as investment advice and transactions involving foreign currency. It also listed CMP24 / Capital Markets Point 24 and Nobel 500 in the same November 11, 2019 public warning.
The notice cited Royal Legislative Decree 4/2015, which was the relevant Spanish securities legislation at the time. That historical reference should not be confused with Spain’s current principal framework, Law 6/2023 on Securities Markets and Investment Services.
What the DAX1001 notice covered
The November 4, 2019 notice named One Thousand One Ltd, One Lable Limited Ltd and dax1001.com. It also referred to other entities and websites, including royalfinance24.com.
Rank #2
Its central point was regulatory status: the named entities were not recorded in the CNMV’s relevant register and were therefore not authorised to provide investment services in Spain. The notice did not, in that document, make a finding that DAX1001 had committed fraud, taken client funds, or caused a specified amount of investor losses.
Why the warning matters to someone considering a broker
A CNMV warning means a prospective Spanish client should not treat the business as a regulated Spanish investment firm. That matters because authorisation is connected to important investor protections, including the regulator’s supervisory powers and the rules that apply to authorised investment-service providers.
A company may describe itself as incorporated, licensed, or regulated in another jurisdiction. That does not automatically establish permission to provide investment services to Spanish residents. The precise legal entity, services offered, jurisdiction, date, and any applicable cross-border permissions all need to match.
Rank #3
Historical ICE-FX materials identified ICE-FX Markets Limited with a Labuan registration number, LL12180, and a licence number, MB/15/0007. Those details came from company-supplied documents. They do not override the CNMV’s separate finding that the company was not authorised to provide the relevant investment services in Spain.
What the warnings do—and do not—prove
| Supported by the CNMV records | Not established by these notices alone |
|---|---|
| The entities were not registered or authorised with the CNMV for the relevant services in Spain. | That either firm was criminally convicted of fraud. |
| The warnings were issued in November 2019 and remain publicly searchable. | That client funds were misappropriated. |
| The regulator identified particular companies, brands and websites. | A quantified total of investor losses. |
| ICE-FX was warned in relation to investment and auxiliary services covered by the notice. | That every person who used either website lost money. |
For that reason, “warned against by the CNMV” and “unauthorised in Spain” are accurate descriptions. Calling either business a proven scam, saying the CNMV shut it down, or describing the warning as a court judgment would go beyond what these records establish.
If you are considering sending money—or already have
- Stop and verify the legal entity. Do not rely only on a brand name, trading platform, social-media account or domain. Compare the company name and website with the CNMV’s registers and warning database.
- Do not make another payment to unlock a withdrawal. Requests for “tax,” “clearance,” “conversion,” “insurance” or “recovery” fees are not proof that a withdrawal is legitimate. Paying more can increase the loss.
- Preserve evidence. Save account statements, payment confirmations, wallet addresses, emails, chat logs, telephone numbers, contracts, screenshots and the exact website address. Keep original files where possible.
- Contact the payment provider quickly. Ask your bank, card issuer, payment app or cryptocurrency exchange what dispute, recall or fraud-reporting options remain. Time limits vary, and a transfer cannot be guaranteed to be recovered.
- Report the matter to the appropriate authorities. In Spain, contact the CNMV for investment-firm regulatory information and report suspected fraud to the police or Guardia Civil. A regulator’s warning is not a recovery order, so do not assume that appearing on a warning list automatically returns money.
- Be wary of recovery offers. People who have already lost money can be targeted by fake lawyers, investigators or officials promising recovery in exchange for an upfront payment or access to banking or crypto accounts.
How to check a broker before depositing
- Open the CNMV’s warnings and investor information pages.
- Search the exact company name, trading name, domain and phone number—not just a shortened brand.
- Check the CNMV register for an authorised firm with the same legal identity.
- If the firm claims overseas regulation, visit the claimed regulator’s own register rather than using a link supplied by the broker.
- Check whether the authorisation covers the specific service and Spanish clients. A company registration is not the same thing as authorisation to provide investment services.
- Keep a copy of the register result and the firm’s legal documents before transferring funds.
The absence of a warning is not, by itself, proof that a broker is safe. Registration, the correct legal entity, clear fee disclosures, credible withdrawal terms and appropriate risk controls all matter. For leveraged foreign-exchange or derivative products, the possibility of losing money can be substantial even where the provider is authorised.
Bottom line on DAX1001 and ICE-FX
The CNMV warned against DAX1001 on November 4, 2019, naming One Thousand One Ltd, One Lable Limited Ltd and dax1001.com. It warned against ICE-FX Markets Limited and ice-fx.com on November 11, 2019. In both cases, the regulator said the entities were not registered with the CNMV and were not authorised to provide investment services in Spain.
The warnings remain visible in the CNMV’s public database. They are a serious reason for a Spanish investor to avoid depositing money with the named businesses, but the notices should be described precisely: they establish a lack of Spanish authorisation, not a criminal conviction or a proven amount of investor loss.
Independent reader supportYour contribution helps us test, update, and keep practical guides available for everyone.FAQ
Did the CNMV ban DAX1001 and ICE-FX?
The CNMV warned that the named DAX1001 and ICE-FX entities were not registered or authorised to provide investment services in Spain. “Banned” or “shut down” would imply facts not established by these notices.
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Not on the basis of the CNMV warning alone. The warning establishes the lack of CNMV registration and authorisation in Spain. It does not itself establish fraud, criminal liability or investor losses.
When did the CNMV warn against DAX1001?
The DAX1001 warning was dated November 4, 2019. It named One Thousand One Ltd, One Lable Limited Ltd and dax1001.com.
When did the CNMV warn against ICE-FX?
The ICE-FX warning was dated November 11, 2019. It named ICE-FX Markets Limited and ice-fx.com and also listed CMP24 / Capital Markets Point 24 and Nobel 500 in the same warning.
Does an overseas licence prove that ICE-FX could serve Spanish clients?
No. A foreign registration or licence does not, by itself, prove authorisation to provide investment services to Spanish residents. The legal entity, services, jurisdiction, date and cross-border permissions must be verified.
What should I do if I already sent money to one of these businesses?
Stop further payments, contact your bank or payment provider immediately, preserve all records and report suspected fraud to the relevant Spanish authorities. Be cautious of recovery services that demand an upfront fee.
The Bottom Line
Bottom line: The CNMV’s 2019 warnings say DAX1001 and ICE-FX were not authorised to provide investment services in Spain. Treat the entries as a major red flag, verify any broker through official registers, and do not send additional money to release a withdrawal.
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