Investor warning against EUFM broker scam

Spread financial intelligence

The Italian regulator Consob has recently issued a warning against the broker scam European Financial Markets a/k/a EUFM (https://eufm.eu). The website does not provide any information about the operators or the jurisdiction responsible. As payment processors behind BoxiPay cashier, we have once again discovered Paypound as well as PayCent. Deposits are only possible via credit and debit cards. Stay far away and save yourself from losing your money and misusing your data.

Key data

Trading nameEUFM
European Financial Markets
Domain registrarNameCheap
Legal entityEUFM Ltd (fake)
EU Trade Ltd (fake)
Jurisdictionnot disclosed
Payment processorsBoxipay (cashier)
WarningsCNMV, Consob

The scam narrative

Nothing is exciting to tell about the EUFM broker scam. It is one of the numerous white-label scams run by one of the many cybercrime organizations with their boiler rooms. The unregulated payment providers Paypound and PayCent are also notorious scam facilitators.

On Trustpilot, EUFM has a 2.9-star rating with a corresponding “Average” trust level. As with most scams, the 4 and 5-star reviews look like fakes or ordered (invited) reviews.

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If you have any information about EUMF a/k/a European Financial Markets, please let us know via our whistleblower system Whistle42. Alternatively, we also appreciate a comment.

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