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Tag: Finrax

CySEC-Regulated FP Markets And Its Offshore Mutation Placed On Orange Compliance List!

CySEC Ben -
The offshore broker FP Markets is operated through FP Markets LLC, registered in St. Vincent & The Grenadines and related to the CySEC-regulated broker of the same name. The only discernible difference between the CySEC-regulated and the unregulated offshore broker is the domain. The offshore mutation of FP Markets was recommended to us via Daily Forex. The KYC at onboarding does not comply with ESMA requirements. We have added FP Markets to our Orange Compliance list.

Compliance Check: CySEC-Regulated Broker FXPrimus And Its Offshore Mutation!

Offshore Broker tamir -
FXPrimus is multi-asset broker scheme which is already active since 2014. In the EEA, the scheme is registered with CySEC through Primus Global Ltd. Besides, an offshore mutation is also operated through Primus Markets Intl Ltd registered on Vanuato. In our review, we found some regulatory violations in the process and therefore placed FXPrimus on our Orange Compliance List. Here is our review and compliance check.

Attention: Offshore Broker TradeNext Received Red Compliance Rating!

Offshore Broker Ben -
TradeNext is an offshore broker regulated by the Financial Services Commission (VFSC) in Vanuatu and focused primarily on Indian clients, from where almost 100% of the website visitors come. Besides the Vanuatu entity, Progressium LLC on St. Vincent & the Grenadines is also listed as the operator. Bank deposits are processed via an account of the Indian Priyanka Industries, which means red flags for us. We have given TradeNext a Red Compliance rating. You should avoid the broker.

Attention: Orange Compliance Rating For Expanding Offshore Broker Moneta Markets!

Orange Compliance Ben -
FinTelegram is known and hated primarily for its critical reviews. In this respect, we may (somewhat) disappoint this expectation with our new review of Moneta Markets by David Bily. We have upgraded the broker's compliance rating from red to orange, honoring the regulatory actions taken in recent months and the positive customer feedback. However, some of the broker's key target markets are still covered without regulatory permissions. Here is our updated review.

Offshore Broker Moneta Markets Still Solicits EEA Residents Without Authorization!

Illegal Broker Activities tamir -
Moneta Markets is a trading name of Moneta LLC, St. Vincent & The Grenadines. In Australia, Moneta Markets is acting as an authorized representative of AGC Capital Securities Pty Ltd, regulated by the Australian Securities & Investments Commission (ASIC). In South Africa, the scheme is an authorized Financial Service Provider regulated by the Financial Sector Conduct Authority (FSCA). However, it does not have regulatory permission for EEA jurisdictions and violates regulatory rules.

Confirmed! Moneta Markets With New ASIC License No Longer Part Of Vantage Group!

Broker Ben -
FinTelegram reported back in August 2022 that Moneta Markets appeared to no longer be part of Vantage Group. In an executive interview with Finance Magnate, founder and CEO David Bily confirmed the breakaway from the Vantage Group. He also informed that Moneta Markets would now also operate with an ASIC license in Australia. However, Moneta Markets still operates unauthorized in Europe and violates regulatory rules. Here is another update.

Interesting! Offshore Broker Moneta Markets No Longer Part Of the Vantage Group!

CONSOB tamir -
Until recently, Moneta Markets used to be a trading style of the Vantage Group with the offshore entity Vantage Global Limited, registered with the VFSC in Vanuatu, as its operator. European regulators have warned against the unauthorized and thus illegal activities of Moneta Markets soliciting consumers in the EU. For a few weeks, Moneta Markets has been operated by Moneta Markets South Africa (Pty) Ltd, an FSCA-regulated FSP, and Moneta LLC, registered in St. Vincent & The Grenadines.

Update On Vantage Group And Its Offshore Activities!

Offshore Broker Ben -
The Vantage Group is a global, multi-asset broker headquartered in Sydney, Australia, d/b/a Vantage, VTMarkets, or Moneta Markets. The group runs several offshore entities to circumvent regulations in the UK, Europe, and other regulatory regimes. According to its latest press release, Vantage works with a global team with over 1,000 staff, spread over 30 offices located. In February 2022, Vantage signed a multi-year sponsorship deal with McLaren Racing and has become an Official Partner of the McLaren (MX) Extreme E team. Here is another update.

The CySEC issue! LegacyFX continues with offshore onboarding for European clients!

CySEC tamir -
Offshore onboarding to circumvent ESMA and FCA guidelines is still a big issue for European regulators. Especially CySEC has had a problem with this approach for years, as FinTelegram has pointed out repeatedly. Most recently, in a new review of CYSEC-regulated FXORO, we found that the CIF continues with offshore onboarding of European retail investors systematically in violation of regulatory requirements, as does LegacyFX.

Attention! Unauthorized VT Markets and Moneta Markets still attack European consumers!

CNMV tamir -
As reported already, Vantage Group operates various brands and domains through legal entities in different regulatory regimes. The offshore entities are Vantage Global Limited, regulated by the VFSC in Vanuatu, which operates the Moneta Markets and Vantage brands. Vantage International Group Limited, regulated in the Cayman Islands by CIMA, operates the offshore mutation of VT Markets. Both VT Markets and Moneta Markets are subject to warnings from European regulators. They solicit consumers in the EU without authorization and without proper onboarding.

Compliance Issues? The offshore brokers of the Vantage Group!

Compliance Ben -
Vantage (previously VantageFX) is an offshore broker of the Vantage Group besides VT Markets and Moneta Markets. Since the beginning of 2022, Vantage uses new domains and logos. Vantage Group operates with regulated entities in the UK and Australia. The offshore activities are operated via Vantage Global Limited, Vanuatu, and Vantage International Group Ltd, Cayman Islands, with whom clients enter into an agreement. These offshore brokers are also active in Europe, soliciting clients and their funds.

R4I – Licensed Estonian crypto payment processor Finrax

Crypto Payments Charlene Lensburg -
We recently spotted Estonia-registered and licensed crypto payment processor Finrax at offshore broker Moneta Markets. Finrax is new on our radar, and we would like to know more. We know that Finrax is a Bulgarian venture operated via Finrax Limited, registered in Sofia. To get the crypto license in Estonia, the subsidiary Finrax Exchange OÜ was established. The founders and directors are Roberto Penchev and Miroslav Marinov. We would like to know more about the crypto payment processor.

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]

Disclaimer: FinTelegram is an independent intelligence and compliance platform and does not provide investment, legal, or financial advice. Content published on this website, including references and links to third-party sources, is provided for informational, contextual, and educational purposes only and does not constitute a recommendation, endorsement, or solicitation. Readers must make their own independent assessment and obtain professional advice where appropriate. Past events and referenced materials are not a track record and should not be relied upon as an indicator of future results.

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