Retail Broker | FinTelegram News

Category: Retail Broker

November 30, 2022

The Interesting Background Of CySEC-Regulated Broker Alvexo!

We recently brought an update on CySEC-regulated broker Alvexo and shared it via Twitter. We received a link from @braisincapital to an article on WarningTrading where the background to Alvexo is presented in detail. The founders are the Israelis Shlomi Amsalem, Noam Moshe Hano, and Adir Aharony, who previously operated the now disappeared scam broker NetoTrade. Noam Moshe Hano ran the boiler room operator ESN Global Media Ltd in Israel.

November 25, 2022

Ozan Ozerk’s Eurotrader Acquired Itself An FCA License To Continue Expansion-Spree!

Ozan Ozerk is a FinTech entrepreneur with many interests. He is the founder of the European Merchant Bank (EMBank) in Lithuania and FCA-regulated OpenPayd. On his website www.ozanozerk.com, Ozerk explains himself in epic terms. He founded the CySEC-regulated broker EuroTrader in 2018. Even before that, in 2016, he was involved in establishing the offshore broker LDQFX, which, at least until some time ago, was connected with EuroTrader, which has now secured an FCA license.

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.

November 12, 2022

Notorious CySEC-Regulated ForTrade Received Temporary Order In Canada!

The Investment Industry Regulatory Organization of Canada (IIROC) formally initiated the investigation into Fortrade Canada Limited's conduct in August 2021. Following an application made with a notice on November 9, 2022, in Toronto, Ontario, a Hearing Panel IIROC granted a temporary order in the matter of Fortrade Canada Limited. FinTelegram has been reporting about the ForTrade activities over the last two years!

November 1, 2022

Turkey-Focused Eurotrader Group Appoints Ben Swann As Chief Technology Officer

CySEC-regulated multi-asset broker Eurotrader Group has appointed Ben Swann as its new Chief Technology Officer. Before joining Eurotrader, he built and managed several retail trading platforms, including City Index, Gain Capital, and MF Global. Eurotrader was founded by Ozan Ozerk, who is also the founder of FCA-regulated Banking-as-a-Service (BaaS) platform operator OpenPayd and the Lithuanian European Merchant Bank (EMBank).

October 16, 2022

Interesting: CySEC CIF ICC Intercertus Capital Acquired By M4Markets!

The broker M4Markets and the group behind it, the Oryx Group, announced that they have purchased the CySEC-regulated CIF ICC Intercertus Capital Ltd, which did business as Axiance. The CIF will now operate under the legal name of Harindale Ltd and do business with the trading name M4Markets Europe. After completing a capital raising round earlier in the year, they secured the approval of the Cyprus regulator, Finance Magnates reports.

Retail Broker

July 31, 2022

Swiss Broker Dukascopy Shows Record Numbers for H1 2022

Geneva-based Dukascopy Bank SA offers multiple online trading and investment products with various other financial services. This includes current accounts, guarantees, classical banking payments, instant payments via smartphones, and payment cards. The bank has published its interim financial statement for H1 2022 with a net profit of CHF 3.89M ($4.1M), 195% above the net profit for the same period of the previous year.

June 19, 2022

Whistleblower Request – Broker Crypto FTX & CySEC-Regulated K-DNA Financial Services!

We didn't have US crypto billionaire Sam Bankman-Fried and his FTX Group on our radar. This crypto brokerage scheme, controlled via offshore entities in Antigua and Barbuda or the Bahamas, recently acquired CySEC-regulated investment firm K-DNA Financial Services Ltd, led by Martha Lambrianou. In March 2022, FTX Group announced the establishment of FTX Europe AG, Switzerland, as a holding company. FTX Group came to our attention via a BaFin warning against the Investorix broker scam mentioning the K-DNA Financial Services Ltd. We would like to learn more!

June 14, 2022

Introducing Trade Group And The Multi-Asset Broker Trade.Com!

Israeli Roei Gavish worked for Teddy Sagi's Playtech until 2014 when he joined the Trade Group, where he is CEO and Managing Director. Trade.com, operated by CySEC-regulated Trade Capital Markets (TCM) Ltd (previously Leadcapital Markets Ltd), has an offshore entity, Lead Capital Global Ltd, registered in Mauritius. There are rumors that Trade Group would connect or relate to individuals behind the Key Way Group and Teddy Sagi. Here is our initial review as we started to follow the group.

May 3, 2022

Interesting! FCA-regulated One Financial Markets powering DBFX, NewFX, and OnspotBNK!

FinTelegram reviewers noticed that the websites of the offshore brokers DBFX, NewFX, or OnspotBNK load their content from www.onefinancialmarkets.com, which belongs to the FCA-regulated One Financial Markets broker. Financial regulators have warned against these offshore brokers. So we took a closed look at this FCA-regulated broker and found out that it also offers potential customers from the UK and the EU leverage of up to 1:500 via offshore onboarding. Here is our initial review on OneFinancialMarktes and the AXI Group.

April 21, 2022

Bulgarian white-label operator StocksTech applied for a CySEC license!

A few weeks ago, we received whistleblower information that StocksTech Limited (prev. Straightpoint Trading Limited, registered in Cyprus, is the operator of the Bulgarian white-label broker platform provider StocksTech. Currently, it offers an online trading solution, including CRM, to brokers. The Stockstech co-founder and mastermind is the Bulgarian forex veteran Stefan Sotirov. The scheme's LinkedIn page lists an address in Sofia, Bulgaria. According to the latest information on the StocksTech website and LinkedIn, they applied for a full CySEC license.

Gemini Trust Slapped with $5 Million Penalty for Misleading CFTC

The U.S. Commodity Futures Trading Commission (CFTC) has issued a $5 million fine to Gemini Trust Company LLC for making false or misleading statements during a 2017 bitcoin futures contract certification process. The order stems from the CFTC’s July 2, 2022, complaint against Gemini Trust. The case highlights the importance of truthfulness in regulatory disclosures.

Crypto Fraud Unveiled: Mosaic Exchange and CEO Hit with $1.1M Penalty for Crypto Scheme

The U.S. Commodity Futures Trading Commission (CFTC) has secured a $1.1M judgment against Mosaic Exchange Ltd. and its CEO, Sean Michael, for running a fraudulent digital asset scheme that targeted 18 victims globally. The judgment exposes their misuse of funds, false profit claims, and deceptive practices. The orders stem from the CFTC’s three-count fraud complaint filed Sept. 26, 2023.

Attention: The MoonPay Acquisition of Helio May Trigger a Merger and Take-Over Wave in the Crypto Space.

MoonPay, a leading U.S. crypto payments platform focused on high-risk sectors, has acquired Helio, a Solana-based blockchain payment processor, for $175 million, marking the start of what could be a series of strategic mergers in the digital asset space. This acquisition, MoonPay's largest to date, aims to enhance its payment infrastructure and expand its services in the rapidly evolving cryptocurrency payments sector.

Investor Briefing: The Bear in Crypto Town – Potential Crypto Sector Crash Analysis

The crypto market has entered a period of heightened volatility and uncertainty in recent weeks. Despite a brief recovery at the beginning of this week, the overall trend remains bearish, with Bitcoin and other major cryptocurrencies experiencing significant price fluctuations. As the Fed has been warned of a looming crisis, bitcoin and crypto traders are nervously watching for whether the combined crypto market will drop below the key $3.2 trillion level.

The Clock is Ticking for TikTok: Can the App Dodge a U.S. Ban?

The US is edging closer to a definitive ban on TikTok, the Chinese-owned social media app that has dominated global digital culture. Despite a surprising show of goodwill from incoming President Donald Trump, the odds on prediction markets like Polymarket suggest a 67% likelihood of a ban before May 2025. This looming threat raises urgent questions.