Offshore Broker | FinTelegram News

Category: Offshore Broker

November 29, 2022

Dear Legal Department of Alvexo! Stop Your Defamation Campaign!

In April 2022, we published an initial report on the CySEC-regulated Alvexo Group and its offshore activities. In our review, we found that Alvexo used fraudulent crypto campaigns such as 1k Daily Profit or BitIQ to promote its website. Those who registered with these fraud campaigns were directed to the payment page of the offshore broker Alvexo. The CySEC broker has threatened the FinTelegram hosting partner to have the review removed. However, our hoster did not see any violation. Here is the story of the Alvexo defamation campaign against FinTelegram!

November 24, 2022

Regulatory Warning Against Offshore Broker Scheme LQDFX!

Offshore broker LQDFX has been on our radar for about two years now. This is also because of its interesting background. The founder is the well-known fintech entrepreneur Ozan Ozerk, who founded several regulated companies in the UK, Lithuania, and other EEA jurisdictions. OpenPayd or EuroTrader are projects of Ozan Ozerk. The UK FCA has recently issued a warning against the offshore broker LQDFX, violating the EEA regimes' regulatory requirements.

November 16, 2022

Offshore Broker XBPrime And Its Connections To FTX Europe!

We brought an initial review of the XBPrime broker operated by the offshore entity MarketFinancials Ltd, a securities dealer registered by the FSA Seychelles. The payment agent is Cyprus-registered M&N Equity Research Ltd. The offshore entity is said to be owned by Cyprus-registered Proverial Ltd, where Israeli Asher Afriat is registered as a director. He is also a director of the CySEC-regulated FTX (EU) Ltd (formerly K-DNA Financial Services Ltd), which operated as FTX EU. CySEC recently suspended the license of FTX Europe (report here).

November 16, 2022

Update On the Offshore Broker Schemes Of Vantage Group!

The Vantage Group is a global, multi-asset broker headquartered in Sydney, Australia, d/b/a Vantage and, until Q2 2022, also as VT Markets. The group runs several offshore entities to circumvent regulations in EEA and other regulatory regimes. Until a few months ago, Moneta Markets was also part of the Vantage Group but left it. Here is another update. Until Q2 2022, VT Markets was officially a Vantage Group brand. Now VT Markets operates without direct reference to Vantage. Here is an update.

Offshore Broker

November 10, 2022

Introducing Offshore Broker RoboForex

RoboForex is an offshore broker operated by RoboForex Ltd in Belize and operates under a license issued by FSC Belize and also accepts clients in the EEA regions. RoboForex is the offshore mutation of the CySEC-regulated RoboMarkets and offers leverage of up to 1:1000. According to Similarweb statistics, more than 1.4 million people visit the website every month, with the majority coming from Russia, Brazil, Germany, and the UK. Here is our initial review.

October 27, 2022

Warning Against Offshore Activities Of CySEC-Regulated TrioMarkets!

TriomMarkets is a CySEC-regulated broker operated by EDR Financial Ltd. Besides, the TrioMarkets scheme also offers its products through the offshore entity Benor Capital Ltd. However, TrioMarkets offshore broker also accepts EEA clients and offers them the leverage of up to 1:200. In our review, we also found that pre-KYC deposits via bank or crypto were possible in theoretically unlimited amounts. We advise you to stay far away from the TrioMarkets offshore broker. You are not protected!

October 24, 2022

Unauthorized Crypto Broker Margex Continues To Grow In The U.S.

The Spanish regulator CNMV issued a warning against crypto derivatives broker Margex. The unauthorized offshore broker offers leverage of up to 100:1, which is significantly higher than the maximum leverage of 30:1 allowed by ESMA. Margex is active on Twitter, YouTube, and Facebook and deploys an aggressive affiliate and referral system to chase new clients. According to the latest statistics, the broker receives most of its traffic from clients in the U.S.

Offshore Broker

October 19, 2022

Whistleblower Request: We Would Like To Learn More About Cyprus Actamove!

Tax haven Cyprus has become a center of the global cyberfinance scene in the last ten years. Controlled by Israeli entrepreneurs, many regulated and unregulated investment firms (CIF), payment processors, and marketing companies are operating in Cyprus. However, a significant part of this financial scene in Cyprus is specialized in the dark sector. On Twitter, @InsiderCyprus started to expose background information and discovered business service provider Actamove. We would like to know more.

October 18, 2022

CySEC-Regulated Skilling Continues To Onboard EEA Residents Via Its Offshore Entity!

Skilling Ltd, a Cyprus Investment Firm (CIF) regulated by CySEC, is doing business as Skilling. The broker scheme also offers offshore onboarding to EEA residents outside of ESMA and CySEC rules. This is done through Skilling (Seychelles) Ltd, with whom clients then enter into a Client Agreement. More than 70% of the website visitors are from Sweden. EEA consumers should be cautious with offshore Skilling as any investor compensation scheme or ombudsman does not protect them.

October 17, 2022

CySEC-Regulated FXORO Stopped New Client Registration For Its Offshore Brokerage!

Over the last few months, we covered the CySEC-regulated investment firm MCA INTELIFUNDS LTD, which offers broker services under the trading name FXORO. Besides the CySEC-regulated mutation, we have also found an offshore mutation licensed by the FSA Seychelles that has also offered its services to EEA residents. Upon our reports, the offshore domain has been changed, and no new registrations are currently possible. However, existing EEA clients can continue to work with the offshore broker. And we have received a threat of legal action.

October 17, 2022

Offshore Broker Moneta Markets Still Solicits EEA Residents Without Authorization!

Moneta Markets is a trading name of Moneta LLC, St. Vincent & The Grenadines. In Australia, Moneta Markets is acting as an authorized representative of AGC Capital Securities Pty Ltd, regulated by the Australian Securities & Investments Commission (ASIC). In South Africa, the scheme is an authorized Financial Service Provider regulated by the Financial Sector Conduct Authority (FSCA). However, it does not have regulatory permission for EEA jurisdictions and violates regulatory rules.

October 16, 2022

cTrader Founder Andrey Pavlov, His CySEC-Regulated Broker TopFX, And Some Offshore Activities!

Fondex a/k/a TopFX are broker brands operated by the CySEC-regulated investment firm TopFX Ltd. Besides, the broker scheme also works with an offshore broker that also recruits and registers consumers in the EEA countries. The offshore mutation of TopFX is operated through TopFX Global Limited in Seychelles, which is registered as a securities dealer with the FSA Seychelles. The offshore mutation also offers EEA residents leverage up to 1:500. The scheme is controlled by cTrader founder Andrey Pavlov.