Fasapay | FinTelegram News

NordFX Update: The Broker Is Now Registered In St. Lucia!

Offshore Broker tamir - December 22, 2023

FinTelegram included the offshore broker NordFX in its REd Compliance list as it is operating without authorization. The broker uses a formerly CySEC-regulated entity acting as a payment agent. NordFX has informed us that the operator, NFX Capital VU Ltd, is no longer registered in Vanuatu but in St. Lucia. Traders conclude their client agreement with this unregulated offshore entity. The offshore broker "will not be held responsible for the accuracy of any information available on this site."

Unauthorized Offshore Broker NordFX Included in Red Compliance List!

Offshore Broker tamir - October 25, 2023

FinTelegram issued a warning against NordFX, a retail broker operating without authorization, back in early 2023. The broker, formerly regulated by CySEC, currently has no license known to us and is mainly active in Asia and South America, with the formerly CySEC-regulated entity acting as payment agent. Most recently, it has attracted attention due to the "Mega Super Lottery". We have added NordFX to our Red Compliance list.

Attention: Another Regulatory Warning Against Red-Listed Vantage Group!

CNMV Ben - April 12, 2023

Vantage Prime Group LLC d/b/a VantageMarkets (VantageMarkets.co.uk) is regulated in the UK by the FCA. In addition, the VantageMarkets scheme runs offshore entities through which it performs onboarding of clients in the EEA region, in violation of the regulatory requirements of the FCA and ESMA regulators. Italian Consob has ordered the black-out of the VantageMarkets. Recently, Spanish CNMV issued another warning. We have assigned a Red Compliance rating to the Vantage Group.

Offshore Broker Schemes Yadix And Kridex Assigned Red Compliance Rating!

Offshore Broker Ben - April 11, 2023

The offshore broker Yadix is operated by Quantix FS Limited, registered with the FSA Seychelles. This small broker scheme has no authorization to offer its financial products in the regulatory regimes of the EEA. According to Similarweb, almost 22% of visitors to the Yadix website in the last 28 days came from Germany and 20% from Idatly. Yadix is likely to be operated from Cyprus. We have assigned Yadix a Red Compliance rating. Read our compliance review.

Update: ‘Gen-Z of Broker’ Opofinance And Its Compliance Rating!

Compliance Rating tamir - February 20, 2023

In October 2022, we issued a warning against the offshore brokerage scheme Opofinance, operated by offshore entities in the Seychelles and St. Vincent & The Grenadines. Opofinance operates under a securities dealer license from the FSA Seychelles in most regulatory regimes worldwide without a license. In doing so, Opofinance also violates regulatory requirements and falsely claims that membership with the Financial Commission will protect investor funds. Compliance rating: Red!

Offshore Radar: Updated Review Of VT Markets Facilitated By Payabl And BridgerPay!

Offshore Broker Ben - February 14, 2023

VT Markets is an Australian broker scheme that also allows the onboarding of retail clients in EEA jurisdictions via offshore entities. VT Markets offers maximum leverage of 1:500. Until mid-2022, VT Markets was part of the Vantage Group and still operates with the same solution. In fact, VT Markets is a 1:1 implementation of VantageMarkets with different branding. Payabl and BridgerPay are the main payment facilitator of the scheme, which has already received regulatory warnings.

Attention! Another Regulatory Warning Against FCA-Regulated Vantage Group!

Illegal Broker Activities Ben - February 13, 2023

Vantage Prime Group LLC d/b/a VantageMarkets (VantageMarkets.co.uk) is regulated in the UK by the FCA. In addition, the VantageMarkets scheme runs offshore entities through which it performs onboarding of clients in the EEA region, in violation of the regulatory requirements of the FCA and ESMA regulators. The Italian Consob has ordered the black-out of the VantageMarkets offshore broker website (VantageMarkets.com). It is not the first regulatory warning. Be very careful when dealing with this broker scheme.

Attention! Be Super-Alerted When Working With Offshore Broker NordFX

Illegal Broker Activities Ben - February 9, 2023

A few weeks ago, we brought our initial review about the offshore broker NordFX and connected it with a warning. Whistleblowers informed us that the operators of NordFX were three Russians living in the Netherlands. They would also be behind the company Nord Group Investments Inc., which we could not find. We were informed that the NordFX operators were under criminal investigation. We would like to know more and ask our whistleblowers for additional information. Be very careful!

Be Cautious With Unauthorized Offshore Broker NordFX!

Offshore Broker Ben - January 11, 2023

NordFX is an offshore broker registered in Vanuatu that operates through several websites, primarily in Asia, and offers leverage of up to 1:1,000. The website says no clients from North America and the EU are accepted. However, we could register as EU residents in our review. NordFX has an extensive portfolio of payment processors. In our review, pre-KYC deposits via crypto were possible in theoretically unlimited amounts. Be careful when dealing with NordFX.

Cyprus High-Risk Payment Processor Payabl Facilitates Offshore Broker VT Markets In Europe!

FinTelegram tamir - December 22, 2022

VT Markets is an Australien multi-asset broker regulated by the ASIC. Moreover, VT Markets operates offshore entities in South Africa and St. Vincent & The Grenadines. It does not have a license to offer its financial services in the EEA jurisdictions. However, almost 40% of the website visitors are from EEA countries. The Spanish CNMV issued already a warning aginst the offshore broker. A significant portion of VT Markets customers' deposits are settled through Cyprus-based Payabl via its PowerCash21 gateway. Here is an update.

Warning! Offshore Broker Opoforex Is Now Opofinance But Acts Still Unauthorized!

FSA Seychelles Ben - October 4, 2022

Opofinance (previously Opoforex) is an unregulated offshore broker operated by Opo Group Ltd in the Seychelles and Opo Group LLC in St. Vincent & The Grenadines (SVG). The offshore broker is a member of The Financial Commission, a private dispute resolution organization. The broker has an offshore securities dealer license from the FSA Seychelles, which does not authorize Opofinance to offer financial services in Europe, North America or any other regulatory regime. Traders are not protected under any regulatory regime outside Seychelles.

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

Boiler Rooms Ben - June 27, 2022

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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