Illegal Broker Activities | FinTelegram News

Category: Illegal Broker Activities

April 1, 2022

Attention! Do not fall for PandaTS white-label scam broker StoxDC attacking European consumers!

In the last few days, many people have received emails from [email protected] In these emails, you are informed that there are new transfer details for an alleged payment that you should have received. Please check the inserted link. The link leads to the website BigTopChannel (https://bigtopchannel.org) where investments in Amazon are suggested. From there you will be redirected to the payment page of the PandaTS scam broker StoxDC. Stay far, far away.

April 1, 2022

Be cautious with unauthorized offshore broker Milton Markets!

Milton Markets is an offshore broker operated by Milton Markets Ltd, licensed as a security dealer by Vanuatu Financial Services Commission (VFSC). The offshore regulation does not entitle Milton Markets to solicit clients in Europe, North America or other regulatory regimes. The offering violates FCA and ESMA regulatory requirements with leverage of up to 1:1000. Clients of these offshore brokers are not eligible for Investor Compensation Schemes.

March 30, 2022

Please do not fall for the unauthorized offshore broker Uniglobe Markets!

Uniglobe Markets is an unregulated offshore broker soliciting clients in North America, Europe and Asia. As is typical for an offshore broker, it does not comply with the regulatory requirements of the FCA or ESMA and offer regulatory regimes. It offers, for example, leverage of up to 1:500. The operator is Uniglobe Markets Ltd, registered in St. Vincent & The Grenadies, and the broker shows an impressive performance on Facebook with more than 157,000 followers and several daily postings. You should avoid unregulated offshore brokers at all costs.

March 30, 2022

Attention! Fraud campaign BitcoinPro promotes the CTMatador broker scam!

Currently, the fraudulent crypto campaign BitcoinPro is active. A few days ago, the Spanish regulator CNMV issued a warning against BitcoinPro. In our review today, BitcoinPro is chasing new victims for the CTMatador broker scam. After registering with BitcoinPro, you are immediately redirected to CTMatador's payment page, where you can lose your money using credit and debit card deposits. The payment processors we discovered are Finanic, GameChangers, ChargeMoney, and Paypound. Stay far away.

Illegal Broker Activities

March 30, 2022

Beware of the Maltese Bristol Trading broker scam!

Bristol Trading Limited allegedly operates the Bristol Trading broker scam. The company is registered in Malta, at Tower Gate Place, Tral-Qroqq Street, Msida. The company's director and shareholder is Mercator (Malta) Limited, another Maltese company, which is controlled by British citizens via Guernsey-registered entities. Potential victims can lose their money via crypto deposits. Please let us know more about this Malta-based broker scam!

March 29, 2022

African party! Investor warning against Iconic Capital broker scam!

Spanish regulator CNMV has issued a warning against Iconic Capital broker scam on March 28, 2022. The operator is allegedly Effervescent Group Ltd in St. Vincent & The Grenadines. Potential victims may lose their money via deposits using credit and debit cards and cryptocurrencies. As payment processors, we have discovered the US-African fintech unicorn Flutterwave behind the payment integrator AvalanchePay. Stay far away from Iconic Capital, save your money and your mental health!

March 29, 2022

Wow! Spanish regulator issues 30 warnings against illegal financial websites!

On 28 March 2021, the Spanish regulator CNMV issued warnings against 30 illegally operating financial websites. Among them are again many crypto trading and investment offers and BitcoinPro, another fraudulent crypto campaign chasing victims for broker scams. For weeks now, warnings against crypto providers have been the main activity of the UK FCA. Regulators see the fight against illegal crypto offers as one of the main focuses for 2022. Below is the list of new CNMV warnings.

March 29, 2022

Attention! LionFXM broker scam facilitated by Bity, CoinDeck, and Paypound

n March 28, 2022, Italian regulator Consob announced that it had ordered the blackout of the LionFXM website. The website states AXA Business Solutions Ltd as the operator, which is supposedly registered in St. Vincent & The Grenadines. However, we did not find the company in the Financial Services Authority (FSA) directory in SVG. The payment processors we found are Bity, CoinDeck, Paypound, Stripe and others. Deposits can be made with creditcards, bank wire, and crypto.

March 28, 2022

Consob Monday! Italian regulator ordered black-out of six illegal financial websites!

Monday is Consob day! On 28 March 2022, and like clockwork, the Italian regulator issued orders to blackout six websites illegally offering financial services bringing the total number of websites blacked out since July 2019 to 663. Regulators in other regimes can only issue warnings against illegal providers. Consob can order Internet providers to block their websites for the Italian market. It would be desirable if other regulators were authorized by their legislators to issue such blackouts.

March 27, 2022

Investor warning against INT International Traders broker scam!

The German regulator BaFin has issued a warning against the INT International Traders broker scam. The operators are allegedly Finex Group Ltd and ZMARKET Ltd. On the INT International Traders platform, it is falsely claimed that the broker would be supervised by BaFin. As payment processors, we found behind Lax Exchange, AvalanchePay, Paypound, Neobanq, Kryptova, and others. However, some of the payment options have not been working in our latest review. The scam seems about to vanish with the victims' funds!

Illegal Broker Activities

March 26, 2022

Attention! Be cautious with unauthorized offshore broker Opoforex!

Opoforex is an unregulated offshore broker operated by Opo Group LLC, registered in SVG. The offshore entity was incorporated in Feb 2021 by corporate builder Wilfred Services Ltd. Opoforex is a member of the The Financial Commission, a private dispute resolution organization. The website of the offshore broker states that it would be authorized in SVG for investment services. This is not true. The FSA VSG has clarified in Feb 2022 that it does not regulate or authorize forex or CFD brokers. Opoforex has not authorization to offer its services in Europe or other regulatory regimes.

March 25, 2022

Vanished Daxiron broker scam cooperated with German Solaris Bank

We have reported and warned about the PandaTS white-label broker Daxiron several times over the last few months. After each report, the Daxiron scam changed a bit. Most recently, the domain was changed, which we also brought to our readers' attention. Now the broker seems to have disappeared. Daxiron victims have sent us documents that prove that Daxiron cooperated with the German Solaris Bank to deceive customers about bonus programs and account insurance.