Category: Offshore Broker

CySEC oders RoboMarkets to cease non-financial rewardsC
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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.
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Compliance Check Alpari and FXTM operated by ExinityC
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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.
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FinTelegram includes InstaForex in its Red Compliance listC
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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.
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FinTelegram assigned a red compliance rating to offshore broker StartraderC
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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.
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The BDSwiss CaseE
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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.
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FinTelegram included AXI Group with One Financial Markets in its Orange Compliance listU
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July 25, 2023

Update On FCA-Regulated Axi Group And Its Offshore Broker Activities

We brought our initial review of broker scheme One Financial Markets (OFM) in May 2022 and a brief update in October. OFM is a brand alongside AXI, with which the Australian AXI Group is active. AXI Group has regulatory permission from the UK FCA and South Africa's FSCA. However, the offshore mutations of OFM and AXI are operated by an entity in St. Vincent & The Grenadines. We have added AXI Group to our Orange Compliance list.
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Investor warning against offshore broker OnspotBNKN
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July 24, 2023

New Regulatory Warnings Against Black-Listed Offshore Broker Scheme OnspotBNK

OnspotBNK is a black-listed offshore broker and scam active with various legal entities and domains in various jurisdictions. Currently, the website with the new domain Onspotcap.com indicates ONS Financieel Advies & Coaching B.V., registered and licensed in Holland as the owner. We have not found a valid license. The Italien Consob warned against the offshore broker, as did the Alberta Securities Commission in Canada. Stay far away and protect your financial health.
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FinTelegram downgraded PocketOption to black complianceD
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July 22, 2023

Downgrading: More Regulatory Warnings Against Offshore Broker PocketOption

We have warned several times in recent months about the offshore broker Pocket Option a/k/a PocketOption or PO Trade, which was previously on our Red Compliance list. One of our readers brought to our attention that there are warnings against PocketOption from regulators worldwide. The offshore broker scheme is on the warning lists from the U.S. over Brazil and Europe to Malaysia. We have therefore downgraded PocketOption and placed it on our black compliance list.
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Black Compliance rting for offhosre broker TenkoFXC
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July 17, 2023

Compliance Check: Offshore Broker Tenko FX

TenkoFX is a forex broker scheme that has been around for more than ten years. Until 2018, TenkoFX was an offshore broker regulated by the FSC Belize. Currently, the brokerage scheme is operated through a legal entity in Nevis. However, the broker's websites are now showing hardly any visitors. Traders can only deposit via crypto or vouchers. Stay far away from this unauthorized broker; we have put TenkoFX on our black compliance list.
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Forex Cash Back Services FxCashI
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July 17, 2023

Introducing Forex Rebate And Broker Promotion Platform FxCash!

Pavel Kalashnikau is the beneficial owner, shareholder, and director of the Estonian registered FXCash OÜ, the operator of the Forex rebate service platform FxCash. The idea is that you register on FxCash as a trader, open an account with one of the listed brokers and get back up to 95% of the spread from each trade, a cashback service for Forex. FxCash is mainly used by offshore brokers but, unfortunately, also by broker scams.
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Compliance check for the Orbex Broker SchemeC
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July 16, 2023

Compliance Rating: Cyprus-Based Broker Orbex And Its Offshore Activities!

Orbex is a global multi-asset broker. In the EEA region, Orbex has a CIF license from CySEC. The broker's offshore business is conducted through entities registered with Mauritius and Seychelles' financial regulators. These offshore entities acquire clients in European and Asian jurisdictions and the MENA region. Regulatory requirements are dealt with in a very flexible approach. We have placed Orbex on our Orange Compliance list.
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Investor warning against PaxForexA
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July 14, 2023

Attention: Black-Listed Offshore Broker PaxForex Continues To Solicit Clients Despite U.S. Ban!

PaxForex has been operating as an offshore broker for many years. In 2020, the U.S. regulator CFTC brought a lawsuit against St. Vincent & Tthe Grenadines registered operator, Laino Group Ltd. The FBI seized the domain www.paxforex.com. Since then, the offshore broker has been operating with the domain www.paxforex.org. The offshore entity has disappeared, but the website lists it as the operator. Stay far away.
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