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Tag: DBFX

Gennaro Lanza – The Boiler-Room Nomad Behind DB Investing

People Radar tamir -
Last week DB Investing trumpeted a “strategic partnership” with KYC vendor Sumsub. In reality, adding an off-the-shelf AML tool is hardly headline material; hundreds of brokers do it every day. The publicity blast looked less like real news and more like image-laundering for a man whose broker stable has ping-ponged across regulators, shells and continents for nearly two decades.

Offshore Broker OnspotBNK Vanished After Too Many Regulatory Enforcement Actions!

Offshore Broker Mark Lagarde -
OnspotBNK has been on our radar since 2022. We found that the unauthorized offshore broker cooperated with FCA-regulated broker One Financial Markets. Since then, financial market regulators from several regulatory regimes, such as Italy's Consob and Spain's CNMV, have warned against OnspotBNK. The offshore broker has changed domains several times but is now likely to have disappeared for good. A successor will surely appear soon.

Update On FCA-Regulated Axi Group And Its Offshore Broker Activities

FCA tamir -
We brought our initial review of broker scheme One Financial Markets (OFM) in May 2022 and a brief update in October. OFM is a brand alongside AXI, with which the Australian AXI Group is active. AXI Group has regulatory permission from the UK FCA and South Africa's FSCA. However, the offshore mutations of OFM and AXI are operated by an entity in St. Vincent & The Grenadines. We have added AXI Group to our Orange Compliance list.

Another Regulatory Warning Against the NewFX Broker Scheme!

CONSOB Ben -
As reported by FinTelegram, over the past few years, financial market regulators have warned several times about the unauthorized NewFX broker scheme. A few days ago, the Italian Consob also blocked NewFX's websites for Italian consumers. the active domain is www.newfxtrading.com. NewFX is connected to other offshore brokers, such as DBFX or OnspotBNK, and the FCA-regulated One Financial Markets. We included the broker in our "Red Compliance" list!

Good News! Offshore Brokers NewFX, DBInvesting, And DBFX Ceased To Attack EEA Consumers!

Offshore Broker Ben -
We have covered the Maltese boiler room operator Capital Solutions and the connected offshore brokers for a few months now. The Italian Gennaro Lanza controls the boiler room operations and the related offshore brokers such as NewFX, Dubai FXM, DBFX, or DBinvesting. The NewFX and DBFX websites are no longer accessible to European customers, and DBInvesting no longer accepts EU & UK clients. This is good news and probably also due to FinTelegram reporting.

The Maltese Boiler Room Operator Capital Solutions And Its Vast Broker Network!

Boiler Rooms Ben -
Over the last couple of months, FinTelegram published several reports on the Maltese boiler room operator Capital Solutions Ltd. We very quickly received further information from whistleblowers and partners. The Italian Gennaro Lanza is currently the only remaining beneficial owner after his Italian co-founders Massimiliano Moroni, and Italo Mainolfi sold him their shares. Lanza is connected to several offshore brokers such as Dubai FXM, NewFX, or DB Investing. Evidently, he is operating a vast unauthorized financial business in Malta.

Update! Axi Group & Its Offshore Broker Activities With NewFX, DBFX, And Others!

Boiler Rooms Ben -
FinTelegram already issued some reports on Maltese boiler room operator Capital Solutions Ltd, controlled by the Italian Gennaro Lanza, and its related offshore brokers such as NewFX, Dubai FXM, DBFX, or DBinvesting. Recently, we exposed a relationship between these schemes and Axi Group and One Financial Markets. Upon our reports, the access to these offshore for EU residents has been blocked but UK residents can still register and trade with them. In our new review, we found new payment processors and other interesting connections. Here is the update!

Warning Against ICorpSecurities Broker Scam Facilitated By Axi Group and BridgerPay!

CNMV Ben -
Israeli-Cyprus BridgerPay of Ran Cohen recently announced the successful completion of $6 million in seed funding with Southern Israel Bridging Fund (SIBF), touting its smart payment gateway. Among other things, this would also detect fraud and ensure that credit card payment rejection rates would drop dramatically. Well, the BridgerPay intelligent software evidently failed to detect the ICorp Securities broker scam and thus facilitates it happily. The Spanish CNMV recently issued a warning against it.

Urgent warning! Cyprus-controlled offshore broker NewFX still solicits European consumers

FinTelegram tamir -
the Spanish CNMV and other EU regulators issued investor warnings against the unauthorized offshore broker NewFX. Upon our report, NewFX changed its operating entity and domain. Currently, the operator allegedly is New Finance LLC, registered in Delaware; the active domain is www.newfx.us. NewFX is connected to other offshore brokers such as DBFX or OnspotBNK and to the FCA-regulated One Financial Markets. In our new review on 3 May 2022, we found Praxis Cashier as one of the facilitating payment processors.

Interesting! FCA-regulated One Financial Markets powering DBFX, NewFX, and OnspotBNK!

FCA tamir -
FinTelegram reviewers noticed that the websites of the offshore brokers DBFX, NewFX, or OnspotBNK load their content from www.onefinancialmarkets.com, which belongs to the FCA-regulated One Financial Markets broker. Financial regulators have warned against these offshore brokers. So we took a closed look at this FCA-regulated broker and found out that it also offers potential customers from the UK and the EU leverage of up to 1:500 via offshore onboarding. Here is our initial review on OneFinancialMarktes and the AXI Group.

Attention! Do not fall for OnspotBNK facilitated by BridgerPay and CoinDeck!

Boiler Rooms tamir -
OnspotBNK is an offshore broker and a scam. OnspotBNK Limited, allegedly regulated by VFSC, would be the operator. However, we have found neither the license number nor the company in the register of the VFSC. Instead, we found that the DubaiFXM and DBFX broker schemes also operated with these license details. The same perpetrators are behind these schemes and many more. Once again, BridgerPay and Jubiter a/k/a CoindDeck came to our attention as payment processors. Stay very far away and protect your money.

R4I – Let us know more about Maltese boiler room operator Capital Solutions

Boiler Rooms Ben -
Boiler room operators the real culprits behind the scams and illegal cyberfinance activities. Some of the larger boiler room operators are located in the middle of the EU, in Malta. Most recently, we reported on ZP Services and GCC7 Services, which Israeli Israel Perel controls. Huge scams were run through these. Whistleblowers have also pointed us to Capital Solutions. This boiler room operator has been running the scam brands NewFX and DBFX a/k/a DBFX Trades, among others.

FinTelegram is a cyberfinance intelligence and compliance platform investigating financial crime, regulatory violations, and the rails, entities, and ecosystems that facilitate them. Combining investigative journalism, whistleblower intelligence, and forensic compliance analysis, we map risk across payments, banking, crypto, and offshore structures to support transparency, accountability, and informed action.

Contact us: [email protected]

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