Category: ASIC

Vantage Group of companies and brandS
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August 2, 2021

Spanish CNMV warns against offshore broker VT Markets of Vantage Group

Spanish CNMV issued a warning against VT Markets, a broker operating without authorization. The broker's Client Agreement states Vantage International Group Limited, registered in the Cayman Islands, as the operator. This offshore entity is part of the Vantage Group and holds a Caymen Islands Monetary Authority license. The Vantage Group operates other broker brands such as VantageFX, VantageFXoptions, or TradeOnlineProfit via different entities. As a payment processor, we found everpay for bank transfers, for example.
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Tradesto broker scam vanishedI
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May 14, 2021

Investor Alert – Operators of broker scam Tradesto on the run!

Tradesto was around for many years. This week, the UK FCA issued an investor warning against Tradesto (www.tradesto.com), allegedly operated by Tradesto Corporation, in St. Vincent and the Grenadines, and Tradesto UK Limited. The Malaysian Law Yi Soon was registered as the beneficial owner. The broker claims to be regulated by the VFSC in Vanuatu and ASIC in Australia. It isn't. Tradesto Corporation was de-registered from the VFSC's register in November 2020; Tradesto UK Ltd was dissolved via a compulsory strike-off at Companies House on March 30, 2021.
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Eightcap and Blueberry MarketsI
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March 25, 2021

Investor Alert – Offshore CFD brokers Eightcap and Blueberry Markets onboard Europeans

May a broker licensed by the offshore regulator VFSC operate in Europe and onboard clients in Germany, France, Spain, or Italy? Of course not. Apart from the fact that the VFSC is nowhere near European regulators' standard, its licenses do not allow a financial firm to operate in Europe. Eightcap Global Ltd has a VFSC license and operates two broker brands with it, Eightcap (www.eightcap.com) and Blueberry Markets (www.blueberrymarkets.com). Eightcap works with BridgerPay as a payment processor.
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Tradixa and Brokerz facilitated by PandaTS and Praxis CashierI
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March 25, 2021

Investor warning – Broker scams Tradixa and Brokerz facilitated by Praxis Cashier and PandaTS

The broker scam Tradixa currently operates with the domain www.tradixa.net. The legal entitiwa behind the scam allegedly used to be Tradixa Ltd, St. Vincent & the Grenadines, and All Media EOOD, Bulgaria. In December 2020, the Italian Consob ordered the scam's website's blackout; several other European regulators have issued investor warnings. The scam is still active and facilitated by Praxis Cashier and Epay as its payment processors.
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Australian FinTech iSignthis and its binary options legacyT
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December 16, 2020

The Australian Battlefield – ASIC filed a lawsuit against iSignthis for its binary options legacy

ASIC has filed a lawsuit against taken fintech iSignthis (ISX) and its Managing Director, John Karantzis, to court. The regulator filed a lawsuit last week alleging iSignthis and Karantzis had breached its disclosure obligations and misled shareholders regarding some high-paying contracts signed during the first half of 2018. Behind the ASIC proceedings are 2018 contracts and revenues related to some 336.7 million performance shares for the ISX management. ISX used to be part of the Israeli Network of Binary Options Supervillains of Yossi Herzog.
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