Currently, St. Vincent & the Grenadines (SVG) is a popular offshore destination with scammers. This is where they establish their offshore companies as operators of broker scams like QTECK (www.qteck.io) or Online Trading (www.online-trading.io). These legal entities are usually by Wilfred Services in Kingstown, St. Vincent & the Grenadines. At QTECK, Praxis Cashier is again integrated as a payment processor. The UK FCA issued investor warnings against these broker scams today.
The two broker scams QTECK (www.qteck.io) and Online Trading (www.online-trading.io) are just two of literally hundreds of scams that are operated through legal entities in St. Vincent & the Grenadines. Typically, these offshore entities then hold investments in an EU country to gain access to EU investors and EU financial institutions. This is all done through Companies Builder such as Wilfred Services.
Never trust brokers or other financial institutions registered in SVG or any other of these financially toxic offshore destinations such as the Marshall Islands, British Virgin Islands, or Commonwealth of Dominica. You should also be very careful with companies from some EU member states such as Estonia, Lithuania, or Cyprus.