The German regulator BaFin has issued a cease and desist order against the scam broker FX Leader (www.fx-leader.com). This scam in turn is directly linked to the SwisCapital (www.swiscapital.com) scam. In fact, the domain has been redirected from FX Leader to the SwisCapital broker scam which is allegedly operated by a ScissCapital Limited, a company allegedly registered in St. Vincent and the Grenadines.
As a payment processor, once again the Praxis Cashier System Ltd (d/b/a Praxis Cashier or Praxis Pay) of the Israeli Amit Klatchko is integrated to process credit card payments. Alternatively, you can request the data for a bank transfer via support. The minimum amount for bank transfers is $2,500, Euro or British Pounds.
The broker scams are really bad for small investors and consumers. But worse, much worse are the facilitating payment processors that make fraud possible in the first place. It is time that the responsible authorities in Cyprus, Germany and the other EU countries finally take action against Amit Klatchko and his Praxis Cashier Ltd. There is enough evidence to issue an arrest warrant against Klatchko and close down his payment processor for good.