Finanstilsynet warns investors against trading through the Fondavex trading platform

Finanstilsynet has received information that Fondavex has contacted Norwegian investors and offered investment services. The company offers its services through the websites fondavexainorway.com and fondavex-no.com.

Finanstilsynet warns against operators marketing crypto investments and other financial products through unauthorised trading platforms. These platforms often present themselves as safe and professional, but they are not authorised to provide investment services in Norway.

Typical warning signs

  1. Unrealistic tools: The platforms display “live profits”, “AI trading” features, or fabricated charts without any supporting documentation.
  2. Aggressive sales tactics: After registration, investors are contacted by a “financial adviser” who pressures them to make an initial deposit, often a minimum of EUR/USD 250.
  3. Withdrawal problems: Investors may face demands for additional fees, frozen accounts, unanswered communications, and disappearing contact persons.

These operators are not authorised to operate in Norway, and Finanstilsynet does not supervise them. Investors should therefore not enter into agreements with, or transfer funds to, such platforms.

How to protect yourself

  1. Be critical of investment advice and advertisements on social media.
  2. Conduct thorough research on the company before investing.
  3. Do not allow yourself to be pressured into making quick decisions.
  4. Check whether the company is registered in Finanstilsynet’s Registry of Entities.

Read more about the risks associated with crypto-asset investments in Finanstilsynet’s fact sheet on crypto-assets.