Offshore Broker | FinTelegram News

Category: Offshore Broker

September 20, 2023

Global Multi-Asset Broker Tickmill Included In Green Compliance List!

Tickmill is a global broker scheme regulated in various jurisdictions. In the EEA, the broker is regulated by the Cypriot CySEC, and in the UK by the FCA. Retail traders who provide an EEA address during onboarding can only register with the CySEC-regulated Tickmill. UK residents are only accepted at the FCA-regulated entity. The rest of the world will be processed through the FSA-regulated Seychelles entity. We have added Tickmill to our Green Compliance list.

September 20, 2023

CySEC-Regulated FP Markets And Its Offshore Mutation Placed On Orange Compliance List!

The offshore broker FP Markets is operated through FP Markets LLC, registered in St. Vincent & The Grenadines and related to the CySEC-regulated broker of the same name. The only discernible difference between the CySEC-regulated and the unregulated offshore broker is the domain. The offshore mutation of FP Markets was recommended to us via Daily Forex. The KYC at onboarding does not comply with ESMA requirements. We have added FP Markets to our Orange Compliance list.

September 19, 2023

Offshore Broker PocketOption Addresses The Russian Market With A Network Of Domains And Websites!

We downgraded Russian-controlled offshore broker PocketOption to our black compliance list a few weeks ago in light of its numerous regulatory warnings. In recent months, PocketOption a/k/a PO Trade a/k/a PO has also addressed the Russian market, which is actually blocked by Western sanctions, through a network of new domains and websites and acquired retail traders. Here is an update on PocketOption.

September 18, 2023

Offshore Broker RoboForex Included In Red Compliance List!

RoboMarkets Ltd is a CySEC-regulated broker d/b/a RoboMarkets. RoboForex is the scheme's offshore broker operated by RoboForex Ltd, Belize, regulated by FSC Belize. RoboForex offers its financial services in EEA jurisdictions without regulatory permission. In addition, we found that the broker's website receives a lot of traffic from Russia. We have added RoboForex to our Red Compliance list. Read our latest review.

September 8, 2023

Offshore Broker OnspotBNK Vanished After Too Many Regulatory Enforcement Actions!

OnspotBNK has been on our radar since 2022. We found that the unauthorized offshore broker cooperated with FCA-regulated broker One Financial Markets. Since then, financial market regulators from several regulatory regimes, such as Italy's Consob and Spain's CNMV, have warned against OnspotBNK. The offshore broker has changed domains several times but is now likely to have disappeared for good. A successor will surely appear soon.

September 8, 2023

Whistleblower Request: Boiler Room & Broker Scheme Operator Gennaro Lanza And His Activities.

The Italian entrepreneur Gennaro Lanza has long been known to FinTelegram as the mastermind behind boiler rooms and offshore brokerage schemes that offer financial services without regulatory permission in the EEA and other regulatory regimes. Lanza is also known for running fake websites and backdating FinTelegram articles without our consent. While he continues to operate his broker schemes, he makes fake DMCA claims on Google and sends his lawyers. We would like to learn more.

August 27, 2023

Cyprus-Based Offshore Broker XtreamForex Included In Orange Compliance List!

Several legal entities in different jurisdictions operate the XtreamForex scheme. On the one hand, there is Xtream Markets Ltd in Mauritius, registered as an investment dealer with the Financial Services Commission (FSC) in Mauritius since 2023. The website also mentions Xtream Markets Ltd in the Marshall Islands as the website's owner. The client agreement also mentions Grand Investing Ltd. We have added XtreamForex to our Red Compliance List.

August 26, 2023

CySEC Orders RoboMarkets To Cease Offering Non-Financial Benefits To Retail Clients!

The Cypriot regulator highlighted that certain practices violate MiFIR regulations and the guidelines set by ESMA. The regulator recently revealed intentions to conduct on-site inspections of selected CIFs. RoboMarkets, a broker specializing in forex and CFDs and overseen by the Cyprus Securities and Exchange Commission (CySEC), has been instructed by CySEC to cease offering non-financial incentives like race tickets and "branded goods" to its individual clients.

August 10, 2023

Compliance Update: Alpari and FXTM Broker Schemes Included In Red Compliance Liste

The broker schemes Alpari and FXMT, a/k/a ForexTime, were founded by the Russian Andrey Dashin. On his website, Dashin claims that Alparin has more than 2 million clients and a more than a trillion turnover. Alpari has received and lost licenses in Russia, Cyprus, and the UK since its inception. FXTM currently has a CIF license from CySEC in Cyprus and via Exinity UK Ltd from the UK FCA. Both schemes are operated by Dashin's Exinity Group. We have placed both on our Red Compliance list.

August 8, 2023

Compliance Check: CySEC-Regulated InstaForex And Its Offshore Activities!

We have conducted a compliance review of CySEC-regulated broker InstaForex and its offshore mutations and placed them on our Red Compliance list. The broker, founded and controlled by Russians, has a spicy past. The broker and its co-founder and president Ildar Sharipov were investigated for money laundering in the UK. Parts of its assets have been frozen. The controversial Russian Sergey Mayzus was a co-founder and is said to have pulled the strings until the end.

August 1, 2023

Compliance Rating: Offshore Broker Startrader Included In Our Red Compliance List!

On August 21, 2023, the Spanish regulator CNMV has issued a warning against the offshore broker Startrader operated through Startrader LLC, registered in St. Vincent & The Grenadines, the website says. The broker does not have a license to offer its financial services. Startrader Limited in the Seychelles is registered as a securities dealer with the FSA and operates IV Markets. We have placed Startrader on the Red Compliance list.

July 28, 2023

Exposed By FinTelegram: BDSwiss Secures Another Regulatory Penalty For Misleading Clients!

BDSwiss Holding Ltd, the operator of the forex and contracts for differences (CFDs) broker BDSwiss and Viverno, has been fined €100,000 by the CySEC for lapses in complying with initial margin and risk warning requirements during 2021. The penalty was imposed because BDSwiss enabled mislead clients of its offshore broker scheme to believe they were dealing with the CySEC-licensed firm. The German Jan Malkus controls the BDSwiss Group of companies.