CMF alerts about unregulated investment platforms "Investby," "," and "Cobre Expert"

August 2, 2022 - The Financial Market Commission (CMF) alerts the public about a trio of investment platforms known as "Investby," "," and "Cobre Expert," which are neither regulated by the Commission nor registered in its rolls.

Investby offers investment services through the investby dot com slash es website and is not authorized by the CMF to provide these services in Chile. Securities Commission Malaysia, Malaysia's financial regulator, issued an alert on similar terms about said entity. The same applies to "Tradear," which operates using the tradear dot com website and has already been blacklisted by Spain's National Securities Market Commission; Argentina's National Securities Commission; and Brazil's Securities Exchange Commission. "Cobre Expert" uses the cobreexpert dot com website and was flagged by the CMF as an entity with no authorization to operate or offer any kind of financial services in Chile.

Before making any investment, the Financial Market Commission recommends investors to always do their research on products and companies they are considering investing with by taking the following actions:

  • Check the CMF website to confirm whether the relevant company is registered in Chile, and which parties are responsible for its management.
  • Use popular Internet search engines to identify any complaints or negative feedback about the company through its name, its directors, and the products being considered for investment.

The Commission also reminds the public about the special alerts page for investors, policyholders, and banking customers available on its website. Interested parties can verify here:

  • Whether an entity or person offering financial products or services is supervised by the CMF.
  • Alerts issued by the CMF and other foreign regulators on unregulated entities or activities.
  • Other important advice for the protection of investors, policyholders, and financial clients.

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