FXTM | FinTelegram News

Tag: FXTM

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the notorious offshore broker Alpari and former CySEC-regulated ForexTime (FXTM), not less notorious, have officially withdrawn their membership from the Financial Commission.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.

Broker

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.

UNODC Report: Technology-Powered Cybercrime on the Rise in Southeast Asia!

The billion-dollar cyberfraud industry in Southeast Asia is booming, fueled by organized crime syndicates exploiting the latest in AI and cryptocurrency. The UNODC report notes that these criminal networks are outpacing government efforts to regulate and combat their operations. Urgent reforms and enforcement are needed to prevent further damage.

How U.S. Law Enforcement Infiltrated The International Crypto Scene!

In an unprecedented move, the FBI infiltrated the crypto world with its own token, NexFundAI, to crack down on market manipulation. This case marks a significant shift in crypto enforcement, signaling that law enforcement is evolving its tactics to keep pace with the complexities of the digital asset space. As more fraudsters are exposed, the crackdown on wash trades and pump-and-dump schemes is just beginning.

Breaking: German Co-Founder of Crypto Fraud Scheme USI Tech On The Run!

USI Tech was one of the first MLM schemes to use cryptocurrencies to defraud its investors. FinTelegram has issued several warnings aginst the scheme. Horst Jicha has now gone fugitive, leaving behind a trail of defrauded investors and evading justice in the $150 million USI Tech fraud case. With Jicha on the run, the case serves as a chilling reminder of the risks in the volatile crypto world.

Binance Chief Financial Crime Compliance Officer Denied Bail in Nigerian Case!

Think twice before starting to work for the world's larger crypto exchange. As Binance’s financial crime compliance officer faces money laundering charges in Nigeria, questions mount over the company’s compliance safeguards and the risks involved in its global operations. The denial of bail for Tigran Gambaryan and the ongoing legal battle could have far-reaching implications for the company’s future.

Fintech

Solaris Bleeds Cash and Jobs: Can This High-Risk Fintech Survive, Let Alone IPO?

Solaris, a German fintech and neobank, has a long history of compliance troubles. Moreover, its ongoing financial losses and regulatory woes doubt its long-term profitability, even as it sheds jobs and restructures for survival. A potential IPO, as rumored by the German platform Gründerszene, seems speculative at best in light of its deep-rooted issues with compliance and financial stability.