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FinTelegram recently brought an update on Leverate Financial Services Ltd (“Leverate“), which CySEC regulates with license number 160/11 (see the report here). At this point, we apparently did not have some information, as a whistleblower kindly pointed out. For example, the beneficial owners behind Leverate are also said to be associated with the FXVC (www.fxvc.eu) brand of Finteractive Ltd, another CySEC-regulated CIF with the license number 238/14. Likewise, we were not aware of other unregulated brands as well as boiler rooms in Belgrade. Here the update.
We have, of course, verified the whistleblower information. It has been confirmed to us by two independent sources that the information is correct.
Leverate relies on football sponsorship to market its FXPN (www.fxpn.eu) brand in Europe and entered into a partnership with the German traditional football club Herta Berlin. Finteractive and its FXVC bet on a partnership with the English Premier League Club Leeds United.
Both brands evidently have more in common than just the marketing strategy and sports sponsorships, however. The FXVC and FXPN brands are to be cared for by the boiler rooms of the notorious Parogan DOO in Belgrade. This is where the Opteck scam was previously serviced, which was also one of the unregulated scams of the Leverate Group. Parogan has serviced dozens of broker scams and is the largest boiler room operator in Serbia.
Read more on the Opteck scam environment here!
Besides, we learned that the illegal brokers Astontrust, Marketscube, GlobalMarkets (a/k/a Glob-Markets), BudsFX, or Tradixa are apparently also part of the extensive network of unregulated Leverate white-label brokers operated by the Comunico88 DOO (www.communico88.rs) and Global-Tech DOO boiler rooms. Some of these illegal brokers like Marketscube have already vanished, while others like AstonTrust or GlobalMarkets are still active. They use the Leverate infrastructure like Sirix.
We learned that Leverate’s headquaters for the Balkans is in Tirana.
We will take a detailed look at these newly surfaced brokers and provide an update shortly. If you have any information or experience, we would be grateful if you could share it with us.
