Tag: DBFX

Offshore broker OnspotBNK vanishedO
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September 8, 2023

Offshore Broker OnspotBNK Vanished After Too Many Regulatory Enforcement Actions!

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.
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FinTelegram included AXI Group with One Financial Markets in its Orange Compliance listU
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July 25, 2023

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

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.
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Consob blocked NewFX websites againA
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April 24, 2023

Another Regulatory Warning Against the NewFX Broker Scheme!

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!
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Urgend Warning against offshore brokers NewFX DBFX and DBinvestingG
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September 20, 2022

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

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.
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Maltese Boiler room operator Capital SolutionsT
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June 30, 2022

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

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.
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Axi Group with One Financial Markets NewFX and DBFXU
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June 27, 2022

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

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!
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Investor warning against ICorpSecurities facilitated by BridgerPayW
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May 25, 2022

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

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.
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NewFX DB Investing DBFX TradesU
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May 4, 2022

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

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.
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Introducing One Financial Markets on FinTelegramI
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May 3, 2022

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

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.
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Offshore broker OnspotBNK network on FinTelegramA
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May 3, 2022

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

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.
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Request 4 Information Maltese boiler room operator Capital SolutionsR
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November 17, 2021

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

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.
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NewFX and DBinvesting broker scams facilitated by Praxis CashierI
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August 11, 2021

Investor warning against NewFX and DBinvesting!

Spanish CNMV has recently issued an investor warning against the unauthorized broker NewFX, which actually a scam. The broker's website provides different companies as the operators. There is NEWFX Limited and then BIG HORIZONS Limited. The CNMV has also identified DBFX Limited as one of the operators. This very legal entity also operated the DBFXtrades scam, which the Italian Consob blocked in October 2020.
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