Tag: Help2Pay

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."

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.

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!

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!

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.

YAIBROKERS is still a young venture. The offshore entity YAI Brokers LLC was established in September 2022 by Euro Caribbean Trustees. According to its website, the unregulated offshore broker has offices in Canada and Thailand. YAIBROKERS acquires clients worldwide without the required regulatory authorization. Payments can be made via bank payments or with cryptocurrency. It's best to stay far away and protect your financial health.

The discovered facts suggest that offshore brokers GrandCapital and GCOption from St. Petersburg in Russia operated through various offshore entities. GrandCapital, which operates illegally without authorization, was accepted as a member of The Financial Commission in 2016. In our initial review, we discovered that the GrandCapital group was also behind the (no longer licensed) Estonian crypto payment processor SerenityPay a/k/a Serenity Financial.

Tradesto was around for many years. This week, the UK FCA issued an investor warning against Tradesto (www.tradesto.com), allegedly operated by Tradesto Corporation, in St. Vincent and the Grenadines, and Tradesto UK Limited. The Malaysian Law Yi Soon was registered as the beneficial owner. The broker claims to be regulated by the VFSC in Vanuatu and ASIC in Australia. It isn't. Tradesto Corporation was de-registered from the VFSC's register in November 2020; Tradesto UK Ltd was dissolved via a compulsory strike-off at Companies House on March 30, 2021.