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Tag: Exinity

February 8, 2024

Brokers Alpari and FXTM Bid Adieu to the Financial Commission, Insider Finance Feeds Reports!

In a noteworthy development within the financial brokerage industry, the notorious offshore broker Alpari and former CySEC-regulated ForexTime (FXTM), not less notorious, have officially withdrawn their membership from the Financial Commission. This decision underscores a broader trend among forex brokers reassessing their market focus and priorities.

January 5, 2024

Breaking: Red-Listed Brokers ForexTime and FTXM Ceased Operation And Renounced CySEC License!

The broker schemes Alpari and ForexTime (FXTM), founded by Russian entrepreneur Andrey Dashin, have been subject to recent developments, casting doubt on their regulatory standing. FinTelegram has placed these brokers on its Red Compliance List. In the meantime, ForexTime and FXTM have ceased operations and voluntarily surrendered their CySEC license. The Alpari situation seems to be unclear.

August 10, 2023

Compliance Update: Alpari and FXTM Broker Schemes Included In Red Compliance Liste

The broker schemes Alpari and FXMT, a/k/a ForexTime, were founded by the Russian Andrey Dashin. On his website, Dashin claims that Alparin has more than 2 million clients and a more than a trillion turnover. Alpari has received and lost licenses in Russia, Cyprus, and the UK since its inception. FXTM currently has a CIF license from CySEC in Cyprus and via Exinity UK Ltd from the UK FCA. Both schemes are operated by Dashin's Exinity Group. We have placed both on our Red Compliance list.

September 1, 2022

Eurotrader Appointes Martin Couper To Head Compliance

The CySEC-regulated broker Eurotrader Group controlled by Ozan Ozerk, has announced the appointment of Martin Couper (LinkedIn) to the post of Head of Global Compliance. Before joining Eurotrader Group, Couper has been working for almost five years for Exinity, founded by Andrey Dashin, owner of brokerage companies Alpari and FXTM. Couper ‎will join Eurotrader’s compliance team based out of London. Recently, Eurotrader announced the appointment of Marcelo Spina as its CEO.

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March 27, 2022

Alpari and FXTM in Nigeria: Looking for an Account Assistant at Exinity Group

Alpari is a Russian broker founded in 1998 by Russian-born Andrey Dashin, who also owns the CySEC and FCA regulated broker ForexTime a/k/a FXTM. Both ForexTime and Alpari are operated through offshore brokers with a network of various legal entities. Apparently, Exinity Group has an office in Lagos, Nigeria, where the group is looking for an Account Assistant. It perfectly shows that Alpari and CySEC-regulated FXTM are indeed under unified management. The FCA and CNMV issued warnings against Alpari.

March 13, 2022

FCA warns against the Russian-Cyprus Trillion-Dollar broker network Alpari!

Alpari is a Russian broker, or at least it has its roots there. It was founded in 1998 by Russian-born Andrey Dashin in Kazan, Russia. Allegedly, it has more than 2 million customers. According to the UK Companies House information, Dashin lives in Cyprus. He also operates the CySEC and FCA regulated broker ForexTime there. Both ForexTime and Alpari are operated through offshore brokers with a network of various legal entities. Also, in close cooperation with the CySEC and FCA regulated Fortrade. The UK FCA has now issued a warning against Alpari.

March 2, 2022

Ukraine War – Fortrade transfers Belarus offshore activities to Mauritius!

LLC Fort Securities BLR is one of the offshore brokers of the Fortrade Group. It is licensed by the National Bank of Belarus (NBRB) and used to the now-vanished FX Trade Premium. The UK FCA issued a warning against this illegal broker (report here). Recently, the German BaFin has announced an investigation against this Belarusian entity, and its now-vanished Invest365. Amid the Russian invasion in the Ukraine ForTrade transfers its Belarus activities to Fortrade Mauritius Ltd, the group informed.

February 6, 2022

Finally! German regulator investigates Fortrade Group and offshore broker!

LLC "Fort Securities BLR" is the offshore broker operator of the Fortrade Group. It is registered and licensed in Belarus. It used to be the operating entity behind the now-vanished FX Trade Premium, against which the UK FCA issued a warning. BaFin has announced an investigation against this Belarusian entity and its Invest365. We have already exposed Fortrade's non-compliant offshore broker activities and their connections to the Russian Alpari Group and the FCA- and CySEC-regulated ForexTime Group.

December 29, 2021

R4I – Connections between Alpari, Forex Time, and ForTrade!

The Spanish regulator CNMV has recently issued an investor warning against the broker Alpari, operating illegally in Europe via the offshore entity Alpari Limited, registered in St. Vincent & The Grenadines. We uncovered Praxis Cashier as a facilitating payment processor. From the information available to FinTelegram, it seems that die Alpari Group is related to the Forex Time Group and the ForTrade Group. Both are brokers regulated by the UK FCA and the Cyprus CySEC.

Swiss Regulator Seizes $15 Million from Private Bank Mirabaud Connected to a Vast Money Laundering and Tax Evasion Case!

Swiss regulator FINMA has seized $15 million from Geneva-based private bank Mirabaud & Cie for serious breaches of financial market law and money-laundering obligations. The bank failed to conduct proper due diligence on a deceased businessman accused of tax evasion, managing up to $1.7 billion in assets linked to him. Despite Mirabaud's efforts to keep the case private, a Swiss court has now made it public.

FinTelegram

Does Sam Bankman-Fried’s Appeal Stand a Chance?

Sam Bankman-Fried’s legal team has filed an appeal to overturn his 25-year sentence, arguing that his trial was tainted by bias. The appeal claims that crucial evidence, including the solvency of FTX, was withheld from the jury. However, legal experts are skeptical about the chances of success, given the high bar for overturning such convictions. Lesson to be learned: bankruptcies are dangerous for all concerned.

Wanted: Connectum Voluntarily Restricts Business After FCA Audits and Vanished Into Thin Air!

Connectum, once a key player in facilitating payments for cybercrime organizations, has seemingly vanished after voluntarily restricting its business operations following FCA audits. The payment institution, now controlled by Cambodian PEP Sokha Heng, stopped offering services as of May 22, 2024, and its email address is no longer functional—raising concerns about the company’s current status. Connectum is wanted by fund recovery organization EFRI for victim compensation payments.

FinTelegram

Global Law Enforcement Action Dismantles Ghost Platform Used by Organized Cybercrime!

In a coordinated international crackdown, authorities have dismantled the Ghost encrypted communication platform, which criminal organizations had used for activities including drug trafficking, money laundering, and violent crime. Over 50 arrests were made globally, and drugs, cash, and encrypted devices were significantly seized. Europol led the operation, which involved law enforcement from nine countries.

Cyprus Real Estate Firm Partners with Notorious CryptoProcessing for Crypto Payments! And Some Background!

Anything is possible in Cyprus. Especially when it comes to cyber finance and illegal gambling and financial platforms. Cyprus was the global hub for illegal and fraudulent binary options. Providers of crypto services have also found a home there. The island is also home to the Dream Hill real estate company, which now offers the purchase of apartments via cryptocurrencies. The partner for this is CryptoProcessing. Here is the most important thing in Telegram style.