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Request for Information – Serbian Boiler Rooms for GigaFX, Bit

Last updated on July 2, 2019

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In recent weeks, we have focused our investigations on Serbia and Montenegro. The Israeli broker scam scene had an operational center there with illegal payment service providers and boiler rooms. Private investigators of our UK security partner have found out through local surveys that the forex broker schemata listed below are also operated by boiler rooms in Belgrade

  • GigaFX (formerly TurnFX) – officially operated by Four Square International Ventures LTD registered on the Commonwealth of Dominica
  • Bithandel – a crytpo trading scam officially operated by CHP Holdings Ltd, a company allegedly registered in St. Vincent and the Grenadines
  • TFXgo.com – officially operated by CHFB LIMITED, a company registered in the UK
  • FXfinest.com

The Balkans have developed into the preferred destination to establish boiler rooms for broker scams over the last couple of years. Most of them are operated by Israeli schemes headquartered in Bulgaria.

The Israeli Connection in Belgrade

We already identified the Serbian boiler rooms of Gal Barak and his E&G BulgariaMy Markets and Parogan – around Amit Hulin, Jesse Tally, Dor Pelleg, and their local frontwoman Katarina Kojic. We suspect that some more boiler rooms will be operated in Belgrade under the protection of local authorities.

Our investigators have reported that the operators of these boiler rooms are making substantial protection payments to the local authorities.

Share Information

We request information about these brands and boiler rooms through our whistleblower system.

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3 Comments

  1. Dr. Thomas Vaupel Dr. Thomas Vaupel July 2, 2019

    https://www.scamadviser.com/check-website/fxfinest.com

    I will give here an urgent warning concerning FxFinest.com.
    No star for this website, it is completely fraud and fake!!!
    It is the same website as the former site TurnFX.com also
    on your site.
    They have changed the name at the beginning of June. They make the appearance to be an online broker mainly for Forex. They make scam phonecalls, at first I had not a suspicion because I have accounts at real Forex brokers and I was contacted also by other brokers in the past and the ‘account manager’ was quite competent and explained me their trading strategy. I said I do not believe that and after some further calls I said I test the strategy with a small deposit and a strict stop loss. With passport copy and address confirmation I got a live account with password and I could log in there. For the first deposit I got an account of this company: Renbox sp. z o.o. 60-434 Poznań, Ul. Człuchowska 8a, which exists indeed with this address in Posnan (but I have no email address) and the account: BANK NAME: POWSZECHNA KASA OSZCZEDNOSCI BANK POLSKI SA BANK ADDRESS: plac Wolności 3, 60-914 Poznań, Poland BIC: BPKOPLPW IBAN: PL81102040270000100215213810 Verwendungszweck: 4074 Unfortunately I have done the transfer, but the money was not booked on my account. I have not heard from such kind of fraud, typically fraud brokers try to induce a customer to make further deposits. The website FxFinest.com is completely a fake, please make this public as strong as possible!! Unfotrunately the warning of the Financial Conduct Authority (FCA) with regard to Turnfx.com came two days later !!! And a further victim has reported one week ago !! The youtube video shows the fake account https://www.youtube.com/watch?v=WFD9qxRN-mM With best regards, Dr. Thomas Vaupel PS: I will contact the FCA the next days.

  2. Doug Binary Doug Binary August 12, 2019

    RBTFX.com is owned and operated by GRF EUROPE OU

    Instacfd.com (four square international ventures ltd) states 4xfx is owned and operated by GRF EUROPE OU

    Aleksandra (Alexandra) Lisina (Odessa, Ukraine) worked for 4xfx as a compliance officer. shows boiler room in Ukraine. Victor Korsun also worked at 4xfx as a trader.

    webimpactor.com (Israeli) is a paid reviewer of 4xfx.com

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