In April 2023, we published our initial review of Elite CurrenSea (ECS), a portfolio manager offering management of client funds on a profit-sharing basis. They are introducing brokers for regulated and unregulated offshore brokers. The operator is SonderSpot OÜ, registered in Estonia. ECS works with VTMarkets, RannForex, or Exness with Elite CurrenSea. We have maintained our Orange Compliance rating.
Elite CurrenSey Key Data
| Trading name | Elite CurrenSea ECS SonderSpot |
| Related brokers | VTMarkets (offshore) RannForex (offshore) Key to Markets (offshore) Exness (regulated) |
| Activity | Online portfolio manager |
| Domains | https://elitecurrensea.com https://sonderspot.com |
| Legal entity | SonderSpot OÜ |
| Jurisdiction | Estonia |
| Related individuals (founders) | Mykyta Barabanov (LinkedIn) Chris Svorick (LinkedIn) Nenad Kerkez (LinkedIn) |
| Authorization | No |
| Compliance rating | Orange |
Short Narrative
ECS develops automated and discretionary trading solutions for retail and institutional clients. They also claim to run money management services via their institutional partners. Finally, they organize webinars, workshops and seminars for traders. The scheme was launched in 2014 by Mykyta Barabanov, Chris Svorick, and Nenad Kerkez, a/k/a Tarantula.
To participate in the ECS-managed portfolios, you must first open a broker account with one of the participating brokers and make the corresponding deposits there. You can then join the ECS PAMM. They offer participating investors the prospect of returns of up to 25% p.m.
The Elite CurrenSea website claims that its Portfolio Flagship would be “managed by certified fund managers with 10+ years of multifaceted trading experience and aimed at investors looking for a well-balanced, high yielding approach, as well as diversification from a traditional investment in bonds, equities, ETFs, active/passive funds.” In the website’s small print, however, you can read that Elite CurrenSea is not a financial company but a financial education site.
We have maintained our Orange Compliance rating for Elite CurrenSea because of the unclear regulatory situation and the rather unrealistic return commitments. ECS refers clients to offshore brokers who offer financial products in the EEA jurisdictions (and others) without authorization.
Share Information
If you have any information about SonderSpot, Elite CurrenSea, its operators, and its facilitators, please let us know through our whistleblower system, Whistle42.
