Red Compliance | FinTelegram News

Category: Red Compliance

September 24, 2023

Red Compliance Rating: The Bond Offered By BDSwiss Parent Company Duronga!

German entrepreneur Jan Malkus is the beneficial owner behind CySEC-regulated BDSwiss, which has recently faced massive regulatory difficulties in various jurisdictions. Malkus controls the BDSwiss Group through Cyprus-based Duronga Holdings Ltd. Currently, Duronga is offering a bond that offers investors a repayment of 210% of the capital invested. We have put the bond on our Red Compliance List.

September 18, 2023

Offshore Broker RoboForex Included In Red Compliance List!

RoboMarkets Ltd is a CySEC-regulated broker d/b/a RoboMarkets. RoboForex is the scheme's offshore broker operated by RoboForex Ltd, Belize, regulated by FSC Belize. RoboForex offers its financial services in EEA jurisdictions without regulatory permission. In addition, we found that the broker's website receives a lot of traffic from Russia. We have added RoboForex to our Red Compliance list. Read our latest review.

September 14, 2023

Attention: Spanish Watchdog Warns Against CFTC-Regulated NinjaTrader

The Spanish financial regulator CNMV has warned against the broker scheme NinjaTrader. NinjaTrader Group and its legal entities operate this broker and the Infinity Futures brand. NinjaTrader Group holds CFTC registrations as an Introducing Broker and futures commission merchant. However, the scheme does not have regulatory permission to operate in EEA jurisdictions. You should, therefore, be cautious as an EEA resident.

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.

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.

July 13, 2023

Introducing Vanuatu-Broker AdroFX: Initial Review And Compliance Check!

As part of our systematic coverage and evaluation of offshore brokers, we also looked at AdroFX, a multi-asset broker registered in Vanuatu with the VFSC as a Financial Dealer. Like many other offshore brokers, AdroFX also addresses retail traders in the regulatory regimes of Europe, North America, and Asia without the required regulatory permission. Due to the lack of licenses and regulatory lapses, we have placed AdroFX on our Red Compliance List.

July 12, 2023

Compliance Check For Offshore Broker Number One Capital Markets (N1CM)!

The offshore broker Number One Capital Markets a/k/a N1CM registered as a Financial Dealer with the Vanuatu FSC (VFSC) in 2017. However, N1CM no longer appears in the latest VFSC Financial Dealer list dated July 10, 2023. The broker does not provide details on this. Recently, the Spanish regulator CNMV issued a warning against N1CM. We have therefore placed the broker on our Red Compliance list and advise all traders to exercise the utmost caution.

July 11, 2023

Compliance Check For Offshore Broker BlueStarFX

BlueStarFX is an offshore broker registered as a Financial Dealer with the Vanuatu FSC (VFSC) since June 2023. We have not found much about the broker; it should be relatively new. There are no reviews or Similarweb statistics, but the broker is online. Therefore we were able to register and do a compliance check. This has resulted in us putting BlueStarFX on the Red Compliance list and recommending traders avoid the broker.

July 10, 2023

Initial Review And Compliance Check for Offshore Broker ForexChief

The offshore broker ForexChief operates through a legal entity in Vanuatu that is registered with the VFSC as a financial dealer. ForexChief is also registered with the FMA in Vanuatu as a member. We think that people from Belarus control this offshore broker. As payment processors, we found the usual suspects like Advcash, Perfect Money, or FasaPay. We have put ForexChief on our Red Compliance list due to the lack of regulatory permission.

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 7, 2023

Red-Listed Offshore Broker Quotex Continues Its Strong Growth!

The offshore broker Quotex has been active for several years and during this time has used various offshore entities as official operators. Until recently, this was Maxbit LLC, registered in St. Vincent & The Grenadines. In our current review, we have found Soft Horizon Ltd in Saint Lucia in the Service Agreement. Quotex is vast and has around 10 million website visitors per month, according to Similarweb. Due to the lack of regulatory permission, we have added Quotex to our Red Compliance list.

July 6, 2023

Updated Review On Red-Listed Offshore Broker Scheme PocketOption!

Most recently, the Belgian FSMA has placed the offshore broker scheme PocketOption a/k/a PO Trade on its blacklist. Over the past few years, several regulators have already warned against the unregulated broker. For a few weeks, PocketOption has been operated by Infiniti Trade LLC, a company registered in Costa Rica. Before that, it was Gembell Limited. We have added PocketOption to our Red Compliance list.