Tag: European Regulatory and Supervisory Investment Commission

Many scam brokers try to present themselves as regulated. For this purpose, they use fake regulators, which are a good business in themselves. Against the payment of a membership fee, the scam brokers are then allowed to call themselves regulated by this organization. Fake regulators are a good business model. Recently we have noticed two new fake regulators, International Regulatory Markets Association (IRMA) and European Regulatory and Supervisory Investment Commission (ERSIC). We have added them to our list.

On May 23, 2022, Italian regulator Consob ordered the blackout of IdealInvestFX's website for Italian consumers. We took a closer look at this scam to discover the payment processors and partners involved. The alleged operator Extraprime Ltd in London does not exist. This is likely to be a fake company. As the governing law, Australia is stated. As payment processors, we have exposed Moonpay and SysPay a/k/a SysPG. IdealnvestFX is a member of the fake regulators ERSIC and IRMA.