Orange Compliance | FinTelegram News

Category: Orange Compliance

September 8, 2023

Attention: Be Careful With The Fund Recovery Scheme Aemilius Cupero!

Fund recovery for victims of cyberscams is becoming an increasingly large field of activity for scammers and lawyers. The latter are not scammers, of course, but have state licenses to give legal advice and represent people. In many cases, however, the result is also meager. Clients pay high fees and in 9 out of 10 cases do not get their money back. We advise caution with US fund recovery scheme Aemilius Cupero.

September 7, 2023

Austrian Regulator Warns Against Estonian-Licensed Crypto Exchange MEXC!

The hunt by regulators against unlicensed or registered crypto exchanges continues. The Austrian Financial Market Authority (FMA) recently warned against the crypto exchange MEXC. In Europe, MEXC is operated through MEXC Estonia OÜ, which has a crypto license from the Estonian FIU. However, this license is not sufficient for the FMA, as MEXC provides banking services, the FMA says. Thus, we have orange-listed the crypto exchange.

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 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.

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.

July 18, 2023

Compliance Check: Introducing Pre-Ipo Investment Scheme Dizraptor!

Dizraptor is an investment scheme that offers pre-IPO investments to accredited investors through its website and a dedicated app. Dizraptor, operated through a Delaware entity, was founded by those Russians who launched crypto-based trading and investment platform Utex a/k/a United Traders via an Initial Coin Offering (ICO) in 2017. Dizraptor is based on a similar concept as Utex, but cryptos no longer play a role. Here is our compliance check.

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.

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.

July 12, 2023

The Australian Wealth Manager And Its Vanuatu Broker DecodeFX!

As part of our compliance checks, we have also reviewed DecodeFX in the last few days. This offshore broker is registered with the Vanuatu FSC (VFSC) as a Financial Dealer and part of the ASIC-regulated Australian Decode Group. We found that DecodeFX also onboarded clients in EEA and other regulatory regimes without the required regulatory permission. As a result, we have placed DecodeFX on our Orange Compliance List. Here is our review.

July 10, 2023

Compliance Check: CySEC-Regulated Broker FXPrimus And Its Offshore Mutation!

FXPrimus is multi-asset broker scheme which is already active since 2014. In the EEA, the scheme is registered with CySEC through Primus Global Ltd. Besides, an offshore mutation is also operated through Primus Markets Intl Ltd registered on Vanuato. In our review, we found some regulatory violations in the process and therefore placed FXPrimus on our Orange Compliance List. Here is our review and compliance check.

July 9, 2023

Update Review: The Offshore Broker Olymp Trade And Connected Schemes!

The offshore broker scheme Olymp Trade is operated by Saledo Global LLC, registered in St. Vincent & The Grenadines, and Aollikus Limited, Vanuatu. The offshore broker addresses clients in Asia and the MENA region and attracts some 5 million monthly website visitors. OlympTrade is also connected to other broker-affiliated schemes such as Saledo Global, Swiss USDT, or DealAcademy through its operating entities. We included Olymp Trade in our Red Compliance list.

July 3, 2023

Updated Review For Romanian-Cyprus Broker Scheme CAPEX With Orange Compliance Rating!

In June 2023, FinTelegram published the initial review of the CAPEX broker scheme, part of the Key Way Group of the Romanian Octavian Patrascu. The multi-asset broker CAPEX is operated via the CySEC-regulated Key Way Investments Ltd and some offshore entities such as KW Investments Limited in Seychelles, Key Way Markets Ltd in UAE, or JME Financial Services (Pty) Ltd in South Africa. Here is the updated review.