Home / Regulation (Page 2)

  • Investor warning – CryptoFX and BlueBird Options broker scams pretending to be regulated institutions

    The UK Regulator FCA has issued a public investor warning against CFD broker Scam BlueBird Options which is allegedly operated by St. Vincent and the Grenadines registered Bluebird Options Limited under the domain www.bluebirdoptions.com. The website claims that the company has a license from the FCA. This is nothing but a bold lie.

     
  • UK Watchdog warns against CFD broker scam Tradebase24

    The UK Regulator FCA issued a warning against CFD broker scam Tradebase24 on October 1, 2020. The scam is allegedly operated by Tradebase Limited, Tradebase (Europe) Limited, and/or Tradbase Group Limited under the domain www.tradwbase24.com. Currently, as a potential victim of the scam, you can only lose your money through Bitcoins (BTC). On Trustpilot, the scam still has an average 2.9-star rating. Never trust TrustPilot, right?

     
  • Spanish Watchdog CNMV warns against Swissgems and MarketsCFD

    A few days ago, the Austrian Financial Market Authority FMA issued an investor warning against the broker scam StarkMarkets, which is operated by the entities Krisimark Ltd and SWISSGEM Ltd. This week, the Spanish regulator CNMV issued a warning against SWISSGEM and the broker scam MarketsCFD which it operates. In May 20120 the Italian CONSOB has already blocked MarketsCFD (www.marketscfd.net).

     
  • FCA warns against broker scam AccepTrade facilitated by Praxis Cashier

    The UK regulator FCA issued a warning against the broker scam AccepTrade (www.acceptrade.com) on September 30, 2020. According to the information on the website, this scam is operated by an AccepTrade Ltd in Dominica. Once again Praxis Cashier from Amit Klatchko is used as a payment processor and Estonian Transcoin is integrated for crypto deposits.

     
  • BaFin issues cease and desist orders against illegal payment processors

    On September 29 and 30, 2020, the German Financial Market Authority BaFin issued several Cease and Desist Orders against German companies that provide payment processing services without the appropriate authorization. The BaFin order against the German companies is related to the international broker scams GiroFX, STSRoyal, and Fibonatex against which other regulators have already issued warnings.

     
  • Offshore Challenge – CFTC complaint was served on Wilfred Services.

    It is often a challenge for regulators, law enforcement agencies, or attorneys for victims of scams to identify the scammers and serve the complaint on...

     
  • CFTC complaint against broker PaxForex asking for full restitution and disgorgement

    CFTC complaint against broker PaxForex asking for full restitution and disgorgement

    On Sept 24, 2020, the U.S. Commodity Futures Trading Commission (CFTC) filed a complaint against PaxForex (www.paxforex.com), an offshore CFD broker operated by Laino Group Limited which is a company registered on St. Vincent and the Grenadines. The Commission alleges that PaxForex is offering services without having the legally required FCM registration. PaxForex is accepting cryptocurrencies as a means of settlement.

     
  • Investor Warning – FCA warns against MigoTrade facilitated by Praxis Pay

    UK FCA issued an investor warning against the broker scam MigoTrade (www.migotrade.com) this week. According to the website, the broker is operated by Smart iSolution LLC, which is allegedly registered in St. Vincent & the Grenadines. The scam is once again facilitated by the Cypriot Praxis Cashier of Amit Klatchko which our Team identified in some other warned of scams this week.

     
  • Austrian FMA and other regulators warn against StarkMarkets broker scam

    The Austrian Financial Market Authority FMA has issued an investor warning against the scam broker StarkMarkets (www.starkmarkets.com) which is allegedly operated by Krisimark Ltd and SWISSGEM Ltd in Sofia, Bulgaria. Already in June 2020, the Canadian British Colombia Securities Commission (BSC) issued an investor warning, and in July the New Zealand FMA (here). The scam facilitating payment processor is once again the Cypriot Praxis Cashier.

     
  • BaFin issues cease and desist order against TheCapitalStocks and RoyaltyFinance

    The German regulator BaFin has warned against the broker scams TheCapitalStocks (www.thecapitalstocks.com) and RoyaltyFinance (www.royaltyfinance.io) which are allegedly operated by Kleinman Enterprise Ltd in St. Vincent & the Grenadines. Already in August 2020, the Italian CONSOB warned against these scams. Both are white label solutions of the Bulgarian Global CRM Solution Platform.