Attention: Unauthorized Broker Forexelite Received Black Compliance Rating!

FinTelegram includes unauthorized broker Forexelite in its Black Compliance list
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First of all, we would like to thank the whistleblowers who drew our attention to the unauthorized and hidden broker Forexelite. If you unfortunately find your way to the domain Forexelite.co, you will be greeted in the Elite Club and will not realize at first that this is a broker. You can only access the website with a VIP code. Thankfully, the whistleblowers have provided us with such a code and we were able to review. As a result, we have placed Forexelite on our black compliance list and issue a warning.

Short Forexelite Narrative

According to the information we have received, Forexelite is operated by Gennaro Lanza, a boiler room and broker operator we know very well. He is the mastermind and beneficial owner behind the Maltese boiler room operator Capital Solutions.

Read the reports about Gennaro Lanza here.

The operators of Forexelite broker

The Forexelite website names Elite Trading Academy Limited, allegedly registered in Dubai, and Forexelite Ltd as the operators. Lanza’s wife, Ana Ramirez, is also said to support Lanza in the operation of his broker schemes.

Different owners and operators are indicated on the individual websites of this broker. It also states that Texcent Asia Pte Ltd, Singapore and Texcent Singapore Payment Operators Pte LTD, a Major Payment Institution (MPI) licensed by MAS, would be the operators and/or owners. The website is chaotic overall.

Forexelite uses the Sirix trading platform from the Israeli-Cypriot company Leverate.

Payment Processors

unauthorized broker Forexelite and its payment options

Forexelite uses Praxis as a payment gateway, which enables payments by credit/debit card, crypto and vouchers. In addition, iPayments Limited and MNO LTD d/b/a Eskaypay in the UK and Iruvey Corporation S.A in Uruguay are named as payment agents.

SEPA bank deposits are also processed via flowBX in the UK via Eugene Musoga Mutheshi‘s Blue Mark Limited. Client deposits are made to the account with the IBAN GB80MODR04007401594583. This is an account held with the FCA-regulated Modulr FS Limited, which is a partner of flowBX.

Compliance Check

Forexelite does not have regulatory permission to offer its financial services in any regulatory regime in the first place. This is the first black flag. Some countries are blocked via IP address.

Of course, pre-KYC deposits via credit/debit card, bank transfer, e-wallets and cryptocurrencies are possible. Which is another black flag.

We put Forexelite on our black compliance list due to the lack of regulatory authorization, regulatory violations and known beneficial owners.

Forexelite Key Data

Trading nameForexelite
Business activityUnauthorized retail broker
Legal entityElite Trading Academy Limited
Forexelite Ltd
JurisdictionsDubai, Cyprus, Malta, UK
Contact data[email protected]
+357 99120842 (WhatsApp)
Payment optionsCredit/debit cards, e-wallets, crypto
Payment processorsPraxis (Gateway)
Paysafecard, Alfacoins, Match2Pay,
Flexepin, Blue Mark via blowBX,
Related individualsGennaro Lanza
Ana Ramirez
Related schemesCapital Solutions (reports here)
Compliance ratingBlack

Share Information

If you have any information about Forexelite, Gennaro Lanza, and their facilitators, please let us know via our whistleblower system Whistle42.

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