EFRI Campaign – Update On OptionStarsGlobal, SafeMarkets, And XTraderFX

Spread financial intelligence

Since the launch of the EFRI campaign to collect claims from the illegal brokers of the Bulgarian E & G Bulgaria, deceived customers from some countries have registered claims in excess of EUR 2 million. Including customers of OptionStarsGlobal, XtraderFX, Golden Markets or SafeMarkets. This is unbelievable given the fact that the campaign started only shortly before Christmas. Moreover, EFRI received reports on threats against employees and partners of this Israeli scheme in Bulgaria.

Claims And The Cultural Thing

We have been reported claims, which included several hundred thousand euros in individual cases. Damaged investors of SafeMarkets, OptionStarsGlobal, or XTraderFX are located around the world, with the focus certainly on the EU. German-speaking investors, in particular, are systematically targeted by E&G Bulgaria campaigns.

FCA Warning against OptionStarsGlobal powered by E&G Bulgaria
FCA Warning against OptionStarsGlobal powered by E&G Bulgaria

Scrolling through Facebook pages of employees of the E&G Bulgaria one finds not infrequently hostile postings against Germans (see also title picture). Based on the many filings and information we received, it seems that those guys regard frauds against German and Austrian investors as a sort of legal business. Evidently, it’s also a corporate cultural thing, to say the least.

Due to the reports of cheated investors, it became evident that the E&G Bulgaria scheme works with shell companies for the processing of bank transfers within the EU area. We have received reports on bank wires to XTraderFX via construction & real estates companies such as IntellEstate Bau GmbH and their accounts with EU banks. FinTelegram already reported on these money laundering transactions. We specifically warn all investors against doing business with illegal brokers and making bank wires to companies unrelated to trading. Here is, operated money laundering.

XTraderFX payment instructions via IntellEstate Bau GmbH
XTraderFX receives payments via German shell companies

We have since got in contact with lawyers in Israel, UK, Germany, Austria, and Switzerland. In addition, we have spoken with the competent authorities in each country. EFRI is currently working on a joint legal approach against the operators of illegal brokerage sites to recover funds for investors.

Threats And Attacks Against Employees

EFRI not only received claims from cheated investors but also information on threats against E&G Bulgaria employees and partners unwilling to continue with these criminal business activities. We have been sent affidavits of employees and former employees describing in great detail how they have been threatened by their managers and colleagues.

It may be no coincidence that some of the E&G Bulgaria people deleted their LinkedIn accounts. Among others, the E&G Bulgaria managers Kfir LEVY and Marina ANDREEVA deleted their LinkedIn accounts and vanished into the darkness of the illegal web. FinTelegram reached out to them but received no answers.

File Claims And Report Suspicious Payments

If you have claims against OptionStarsGlobal, XTraderFX, SafeMarkets, Golden Markets or other illegal broker sites, please report them to EFRI free of charge. Similarly, please notify us suspicious payment service providers such as Praxis Pay, and transactions. We share our findings with the relevant authorities.

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