CySEC-regulated IronFX aggressively chases European victims with fraud campaigns

CySEC regulated IronFX works with fraud campaigns
Spread financial intelligence

The fraudulent AI Stock Profits campaign (https://ai-stockprofits.com) is aggressively chasing victims for scams and illegal brokers. The campaign promises that thousands of members would already earn €10,000 per month with shares of Artificial Intelligence (AI) companies. Former hedge fund managers would have developed the system. This is all bullshit, of course. Anyone who registers with the campaign is automatically registered as a future victim of one of the brokered scams. Today, CySEC-regulated broker IronFX is deploying this and other fraud campaigns to chase victims through its offshore entity Notesco Limited.

IronFX offshore entity attacks European investors

The CySEC-regulated IronFX is operated under license number 125/10 with the approved domain www.ironfx.eu by Notesco Financial Services Ltd in Limassol. For its illegal activities, such as those with AI Stock Profits, IronFX deploys its offshore entity Notesco Limited, registered in Bermuda. This offshore entity has no license from any regulator but attacks consumers and retail investors in Europe and the EU. We could register with IP addresses from the UK, Germany, Italy, or Spain in our simulation.

Upon registration with the AI Stock Profits campaign, one is immediately redirected to the payment page of IronFX (www.ironfx.com). One can make deposits immediately without going through the required KYC/AML process and proper onboarding beforehand. There is no risk assessment done at this point. Not even the registration email has been confirmed. We could have easily deposited €25,000 into Notesco Limited‘s account with SEPAGA E.M.I. Ltd during our review today (download the payment deposit instruction here).

IronFX is notorious for its illegal activities. We have already made an extensive report about it in 2020, which you can find here.

We have found IronFX on several fraudulent marketing campaigns today, such as AI Stock Profits, Bitcoin Profit, or Bitcoin System. In recent weeks, financial market regulators such as the UK FCA and the German BaFin have issued warnings against these fraudulent marketing campaigns. BaFin has found that these campaigns violate German financial laws and regulatory requirements by selling regulated financial products.

If you have any information about IronFX and its activities, we would be happy if you share it with us.

Leave a Reply

Your email address will not be published. Required fields are marked *