Category: Broker

Offshore broker Agra Markets presented on FinTelegramA
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April 17, 2022

Attention! FTechnics-powered offshore broker Agra Markets is new on the radar!

Agra Markets is a new offshore broker operating through Agra Markets LLC in St. Vincent & The Grenadines. The offshore entity was only incorporated in Nov 2021. On 29 Mar 2022, The Financial Commission (always a good place for unregulated offshore brokers) announced Agra Markets as a new member. The social media channels on Facebook, Instagram, or LinkedIn are currently not filled. Agra Markets is at the start. Be super careful with unregulated offshore brokers. You will most likely lose all your money.
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The Financial Commission expells EGMarketsT
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April 17, 2022

The Financial Commission expels unregulated EGMarkets from membership!

The Financial Commission, a private external dispute resolution (EDR) organization for unregulated and regulated online brokers expelled the unregulated Nigerian broker Eagle Global Markets a/k/a EGMarkets from the membership in the organization. Allegedly, EGMarkets breached contractual obligations and did not pay its membership fees. Consequently, EGMarkets clients will not be eligible for reimbursement from The Financial Commission’s compensation fu
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StocksTech on FinTelegramU
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April 10, 2022

Update on the Cyprus white-label broker platform operator StocksTech!

A few weeks ago, we have received whistleblower information that Straightpoint Trading Limited d/b/a StocksTech (www.stockstech.com) is registered in Cyprus. It offers an online trading solution including CRM to brokers. The mastermind of StocksTech allegedly is the Bulgarian forex veteran Stefan Sotirov. The scheme's LinkedIn page lists an address in Sofia, Bulgaria. A UK lawyer informed us that Stockstech Limited would be the real operator of this unauthorized broker.
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Markets.com and Eightcap connectionsW
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April 3, 2022

Whistleblower request! What are the connections between Markets.com and Eightcap?

The Israeli entrepreneur Teddy Sagi founded Playtech plc in 1999. It has over 7,000 employees and is listed on the main arket of the London Stock Exchange. The company is a technology provider for the gambling and financial trading industries. Playtech owns the CySEC-regulated investment firm and broker Safecap Investments Ltd d/b/a Markets.com via Finalto (IOM) Limited. The latter owns the intellectual property rights and marketing and technology contracts of Playtech's financial division, which is up to sale!
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Broctagon Fintech Group and its companiesR
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March 28, 2022

Russian Update on CySEC-regulated Broctagon Kraken

Russian-Cypriot liquidity hub TakeProfit a/k/a TakeProfitTechnology is an almost invisible giant in the Forex scene. Monthly $200 billion is processed through the hub. TakeProfit has offices in St. Petersburg and Cyprus. The shares of TakeProfitTech CY Ltd, registered in August 2018, are held by owned by Broctagon Clearing Limited (70%) and by the Russian Timur Latypov (30%). The latter serves as a director alongside Quek Changchun, Singapore, and Michael Pantelakis. TakeProfit is thus a part of the Asian Broctagon Kraken in Cyprus.
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FCA warns against Russian broker AlpariA
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March 27, 2022

Alpari and FXTM in Nigeria: Looking for an Account Assistant at Exinity Group

Alpari is a Russian broker founded in 1998 by Russian-born Andrey Dashin, who also owns the CySEC and FCA regulated broker ForexTime a/k/a FXTM. Both ForexTime and Alpari are operated through offshore brokers with a network of various legal entities. Apparently, Exinity Group has an office in Lagos, Nigeria, where the group is looking for an Account Assistant. It perfectly shows that Alpari and CySEC-regulated FXTM are indeed under unified management. The FCA and CNMV issued warnings against Alpari.
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Broctagon Prime the Asian Kraken in CyprusW
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March 25, 2022

Whistleblower Request – Please let us know more about Broctagon Prime, the Asian Kraken in Cyprus!

Broctagon Prime, a wholly-owned subsidiary of Broctagon Fintech Group, Singapore, is a regulated Cyprus Investment Firm (CIF) and acts as a liquidity provider to an impressive number of other CySEC regulated brokers. The Broctagon FinTechGroup is an Asian venture controlled by Soh Kai Jun and Choon Keit Wong. These guys have also been behind the Starfish FX, which renounced its CySec license in Sept 2016. scheme. The UK entity behind Starfish FX was dissolved via compulsory strike-off in 2019. We want to learn more about this Asian Kraken in Cyprus.
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Leverate and SmarticoL
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March 24, 2022

Leverate partners with Ukraine Smartico to further gamify forex trading!

It's no secret that the gamification of online trading has been a major and critically received key to success in the retail segment. Binary options were the first step towards the gamification of online trading. It lured millions of consumers into online trading. Israeli white-label broker software provider Leverate has partnered with Smartico to take advantage of this gamification trend. Smartico offers gamification solutions that will enable Leverate to target its clients with "gamification solutions."
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StocksTech on FinTelegramR
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March 21, 2022

R4I – Cyprus-Bulgarian white-label broker platform StocksTech and its activities!

We have received whistleblower information that Straightpoint Trading Limited d/b/a StocksTech (www.stockstech.com) is a Bulgarian project registered in Cyprus. The mastermind behind StocksTech is the Bulgarian forex veteran Stefan Sotirov. The scheme's LinkedIn page lists an address in Sofia, Bulgaria. According to the whistleblower information, StocksTech would be the operator of broker scams and boiler rooms. This may or may not be the case! We want to learn more about StocksTech and its environment.
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The Russian Metaquotes issueD
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March 10, 2022

Did you know that Russians control MetaTrader via Cyprus?

MetaTrader is a registered market of MetaQuotes Ltd in Cyprus. MetaTrader is a trading software for retail traders for Forex, CFD, stocks, or crypto. In the field of so-called speculative retail traders, MetaTrader has a dominant position. It is used by thousands of brokers and millions of traders. A huge open source community has formed around MetaTrader, developing software for the MetaTrader ecosphere. As a matter of fact, MetaTrader is also the preferred front-end platform for scam broker
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Cost of FCA or CySEC licenseI
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March 3, 2022

Interesting! What it costs to get an FCA or CySEC license!

You want to run a regulated forex or crypto business? No problem if youp put some money on the table. The Georgian Amiran Azaladze has focused his FX B2B Hub Ltd on brokering licenses from CySEC, FCA, and many offshore regulators. A CySEC MM license goes for roughly one million dollars; an FCA MM license costs more than $1.1M. The costs for offshore licenses are significantly lower. For Vanuatu, $50k deposit and $47k application fee is enough. However, this license is hardly worth anything.
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EuroTrader Group and Ozan OzerkT
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October 9, 2021

The new EuroTrader Group of Ozan Ozerk regulated by CySEC and FSCA

EuroTrader is a forex and CFD broker brand owned and operated by the EuroTrader Group, a group of regulated companies owned by the fintech entrepreneur Ozan Ozerk. Until at least April 2021, the latter has also been one of the founders and beneficial owners behind the offshore broker LQDFX. Since we published our report about the EuroTrader Group in April 2021 and exposed the offshore activities around the Marshall Islands-registered EuroTrade Global Ltd, some significant changes have been made.
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