The FinTelegram team intensively dealt with the closure of the illegal broker platforms of Gal Barak and his E&G Bulgaria. We called the phone numbers listed on SafeMarkets, XtraderFX, GoldenMarkets, and OptionStarsGlobal, received interesting information and discovered the illegal broker scheme 4xFX and illegal payment services providers (PSP).
Boiler Room Employees Announce License And New Company
Some of the UK numbers listed on the websites did not even work (see phone numbers here in our report). In phone calls with SafeMarkets and XTraderFX, our people happened to come to the same person on the phone. Our question, how it could be that the same person would work for SafeMarkets and XtraderFX at the same time, was not even answered. We got off the hook.
Even more revealing is the information provided by XtraderFX and SafeMarkets boiler room employees and their respective scripts. The closing of the illegal broker schemes was explained with the fact that they would receive a license shortly and therefore would have to change the system. It was also explained to the customers that all problems would be solved with the granting of the license. In this respect, customers are obviously being prepared for a new platform.
Finally, the boiler room employees referred to the new Claim Service legal department. You should please send an email to email@example.com and find out how to proceed. When sending such a request, you will be informed that a representative of the company will come back to you and your claim will be investigated. That’s something, isn’t it?
4xFX – The New Illegal Broker Platform
Some of our EFRI members have informed us that they have received calls from employees on the 4xFX platform (www.4xfx.com). They have been clients and thus victims of XtraderFX and SafeMarkets. These callers have all customer data at their disposal and try to persuade those XTraderFX and SafeMarkets clients aggressively to invest in 4xFX.
Our FinTelegram team has therefore contacted 4xFX and pretended to be a potential customer. We were advised in detail by a certain Ed Barnes who represented himself as a 4xFX senior account manager. With a minimum investment of EUR 20,000, we would be guaranteed a monthly return of 25%. This would be ensured by a so-called “managed account” (PAMM account). The allegedly experienced traders of the 4xFX would guarantee this monthly 25% return. That sounds promising, doesn’t it?
Bank Transfer To South Africa
The South African FNB First National Bank was named to us by email for the transfer of the EUR 20,000. The beneficiary of the payment would be the Rapid BO (PTY) LTD, also based in South Africa. This is a digital marketing company as it is often found in the environment of illegal FOREX brokers. The purpose of the payment should be “Payment for Services“.
The processing of the payment alone indicates that this is again an illegal brokerage scheme. The boiler room emplyoees purport that 4xFX is a Berlin based company. Members of EFRI report on calls from Berlin telephone numbers. Unfortunately, they don’t speak German and they actually are not located in Germany.
It is currently not possible to say with certainty whether 4xFX is the successor of SafeMarkets, XTraderFX, GoldenMarkets or OptionStarsGlobal or whether “only” the customer data was sold. From Israel, we heard the rumor that people behind and/or around E&G Bulgaria joined 4xFX and took it over or are about to take it over. We haven’t been able to verify the rumor yet. As a matter of fact, the domain www.4xfx.com was parked until the beginning of 2018. In the first quarter of 2018, almost a year ago, the illegal broker was booted up under this domain.
In March 2018, the Estonian GRF Europe OÜ was named as operator and owner. In March 2019 Rock Intl Ltd, based in the Marshall Islands, is stated as the owner of the 4xFX website. The GRF Europe OÜ is specified as administrator and processor whatever this means. The Rock Intl Ltd and the Marshall Islands are indeed an indication that the usual suspects in Bulgaria and Israel are at work with 4xFX, isn’t it?
German Payment Service Provider for Crypto
CoinBatur (www.coinbatur.com), which is operated by the Estonian company Rock Europe OÜ, is listed as the payment service provider for cryptocurrencies. CoinBatur is officially located at Potsdamer Strasse 180 in Berlin, Germany. The support of CoinBatur can be reached under the German telephone number +49-89-1-4377-3885, i.e. in Munich. According to DomainBigData, the domain coinbatur.com was registered via Israel. Rock Europe OÜ also operates the crypto exchange Incryptous (www.incryptous.com) which is supposed to be located in Berlin.
Our FinTelegram guys called CoinBatur and were redirected from the German telephone number to an office in Poland. On request, a nice lady informed us that CoinBatur is not a normal crypto exchange, but a crypto payment service working for 4xFX and other broker schemes. In this respect, we can consider CoinBatur as part of the 4xFX network and co-conspirator.
In both companies, a certain Oliver Hemmer (born 1976) from Liechtenstein works as a director. Via his CMC Corporate Management Consulting, he holds numerous functions on behalf of his respective clients and is merely a front figure.
We can assume that the two companies Rock Europe and Rock Intl are related and the people behind them are the beneficial owners of 4xFX.
Report activities and people
If you have any information about activities or persons related to the illegal brokers SafeMarkets, XraderFX, GoldenMarkets, OptionStarsGlobal or 4xFX, we would be pleased to receive a message through our whistleblower system. FinTelegram will investigate all information in the best interest of investor protection.
Injured investors can file their claim through our EFRI initiative. Our team of attorneys and auditors will handle your receivables in the best possible way.