Tag: Crystal Ball Markets

In March 2021, we issued our first investor warning against the unauthorized offshore broker Crystal Ball Markets The operator is Crystal Ball Markets LLC, registered in St. Vincent & The Grenadines. Since March 2021, the supporting payment processors have changed. Currently, clients can make their deposits via the Russian payment platform Perfect Money, bank wire, and crypto. We have given the offshore broker a red compliance rating.

In March 2021, we issued an investor warning against the offshore broker scam Crystal Ball Markets, operated by the offshore entity Crystal Ball Markets LLC. Since March 2021, the supporting payment processors have changed. The offshore broker has no authorization to operate as a Forex, CFD or Crypto broker in Europe or other jurisdictions. We were contacted the brokers Chief Strategy Officer Sasaenia Omilabu and advised that Crystal Ball Markets would be registered with FINTRAC of Canada as a Money Services Business (MBS). Here is the update!

In March 2021, we issued an investor warning against the broker scam Crystal Ball Markets (www.crystalballmarkets.com), mainly active on Instagram and social media. The scam operator is Crystal Ball Markets LLC, registered in January 2020 with registration number 262. The offshore entity was founded by the notorious company builder Wilfred Services Ltd. Since March 2021, the supporting payment processors have changed. Currently, the (potential) victims are asked to make their deposits primarily through PayPal or via cryptocurrencies. Stay away! Stay happy!

In recent weeks, Paystruct (www.paystruct.com) has appeared more and more frequently as a payment processor in our analysis of scam brokers. Like many of the high-risk payment processors, Paystruct discloses very little information on its website. There is no indication of the legal entity and individuals behind it. Contact can be made by email or phone with a number in London. Also, there is no additional information on the merchant dashboard except that Paystruct is supposed to be the world's best closed-loop token payment system with payouts under 24 hours.

The unregulated offshore broker Crystal Ball Markets (www.crystalballmarkets.com) is allegedly operated through a legal entity with registration number 262 LLC 2020 in St Vincent and the Grenadines. The only employee we found on LinkedIn is Naina Sharma in Uttar Pradesh, India. However, the profile does not look real. The broker is currently very active on Instagram, Twitter, and Facebook and evidently tries to build up credibility. We found iPayTotal, PayStruct, Perfect Money, and Euro Pacific Intl. Bank Inc. as payment processors. The broker, of course, accepts crypto.