On 9 August 2021, the Spanish regulator CNMV issued an investor warning against the unauthorized broker NewFX. The scam’s website www.newfx.co provides different legal entities as the operators: NEWFX Limited and Big Horizons Limited. The CNMV has additionally identified DBFX Limited, which also operates the DBFX Trades, which the Italian Consob blocked in October 2020. NewFX is part of the Capital Solutions group of Gennaro Lanzer. Praxis Cashier has facilitated this group of scams, as we established in today’s review.
After registering with NewFX today, we received a confirmation email from a Belight Capital Group company that has had its license revoked by CySEC in September 2021. In August 2021, we uncovered that Praxis Cashier provided payment services to the offshore brokers NewFX and DB Investing. Both brokers are illegally attacking consumers in Europe. Both brokers work on the same platform – SIRIX of
While DB Investing has been licensed by the Financial Services Authority (FSA) Seychelles, NewFX has no license. Anyway, an offshore license does not entitle a broker to acquire clients in other jurisdictions.
Despite warnings from financial market regulators, Amit Klatchko‘s Cypriot-Israeli Praxis Cashier has not terminated its client relationship with Gennaro Lanzer and his group.