Tag: IFMRC

Many scam brokers try to present themselves as regulated. For this purpose, they use fake regulators, which are a good business in themselves. Against the payment of a membership fee, the scam brokers are then allowed to call themselves regulated by this organization. Fake regulators are a good business model. Recently we have noticed two new fake regulators, International Regulatory Markets Association (IRMA) and European Regulatory and Supervisory Investment Commission (ERSIC). We have added them to our list.

The DeliTrader (www.delitrader.com) broker scam has been on our radar screen for months now, and we brought the first report in September. Various regulators have also issued warnings against DeliTrader. Germany's BaFin announced investigations in September 2021. In November, the Italian Consob ordered the black-out of the scam's website. Now, Spain's CNMV warned against the trading fraud. However, the scam is still active. Stay far away, keep your money and spare yourself frustration!

BaFin found that the operator of the DeliTraders scam, Miva Solutions LLC, would have a certification from the International Financial Market Regulation Center (IFMRC). However, BaFin points out that IFMRC is neither a nationally nor internationally legitimized supervisory authority. The IFMRC website has no imprint, nor is there any indication of the organization's place of business. It is also unclear who founded it or is a member of this association. In this respect, IFMRC is not a regulator.

The German financial market regulator BaFin has announced that it has started investigations into the illegally operating broker DeliTraders (www.delitraders.com). The alleged operator of this broker is Miva Solutions LLC, registered in St. Vincent and the Grenadines. This offshore entity also operates the illegally active broker EuroCapitals (www.eurocapitals.com). Both brokers are members of the International Financial Market Regulation Center (IFMRC) and thus claim to be regulated. This claim is, of course, bullshit.