R4I – Regulated brokers ForTrade and Alpari have joint interests

ForTrade and Alpari network
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Recently we reported that an investor warning issued by the UK Financial Conduct Authority (FCA) against TorexFX (https://torexfx.com) was incorrect. The FCA claimed that TorexFX and the domains associated with this scam https://gloryft.com and https://fxen.gloryft.com as illegally acting clones of the FCA and CySEC regulated broker ForTrade. In fact, however, these sites are jointly operated by ForTrade (www.fortrade.com) and the Russian broker Alpari (www.alpari.com). Both brokers have a vast network of entities, domains, and websites. We want to learn more about them and their activities.

Fortrade and Alpari jointly operate websites like GloryFT

Both – ForTrade and Alpari – are veterans of the Forex and CFD broker scene and seem to cooperate via jointly operated websites such as GloryFT. It is not uncommon for regulated brokers to acquire clients outside of compliance frameworks via unauthorized websites and offshore entities. ForTrade officially works only with the domain www.fortrade.com. CySEC approves this in conjunction with Fortrade Cyprus Ltd with license number 385/20 and by the FCA in conjunction with Fortrade Limited with reference number 609970.

According to current knowledge, Alpari appears to be a Russian broker operating through subsidiaries and affiliates in a wide range of jurisdictions. The broker has offshore licenses in Mauritius, Belarus, and Seychelles. The Central Bank of Russia regulates Alpari Broker LLC with the domain www.alpari-broker.ru.

Both brokers ForTrade and Alpari are likely to have important resources in Cyprus. According to the information provided on the website www.alpari.com, it is operated by the Cyprus-based Sawor Services Limited. FT Global Services Limited in Cyprus allegedly processes the card payments for www.altari.org.

We would like to know more about the two brokers and their cooperation. If you have any information about them, we would be grateful if you share it with us.

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