Tag: Instacoins

EagleFX is an unregulated offshore broker red-listed by the CFTC. The operator is EagleFX Ltd in the Commonwealth of Dominica. The offshore broker deploys influencers to promote its services aggressively and has 109,000 followers on Instagram. EagleFX runs on the same white-label platform as CryptoRocket, LonghornFX, and CedarFX. And like them, it uses Instacoins as a payment processor for credit and debit cards. Stay far away from these unauthorized brokers.

Instacoins is a crypto payment platform registered by the Estonian FIU and the Bulgarian National Revenue Agency. According to the information on LinkedIn, the Instacoins Group is a Maltese project controlled by Instacoins Holding Ltd, despite its registration in Bulgaria and Estonia. We have discovered Instacoins as a payment processor at unauthorized Forex, CFD, and crypto brokers CryptoRocket, LonghornFX, and CedarFX, PayRate42 included it in its "Orange Compliance" list.

In Feb 2022, the Spanish CNMV warned against the offshore crypto broker CryptoRocket, operated by the offshore entity CryptoRocket Limited in St. Vincent & The Grenadines. Clients can deposit their funds with Bitcoins or with credit and debit cards and bank transfers via Instacoins The people behind CryptoRocket are also operating LonghornFX and CedarFX. The schemes have no permission to offer financial services in the UK, Europe, or other regulatory regimes. Stay very far away.

Spanish CNMV warned against CryptoRocket in Feb 2022. The offshore entity CryptoRocket Limited in St. Vincent & The Grenadines allegedly operates the scheme. Victims can deposit their funds with Bitcoins or via credit and debit card and bank transfer. However, when doing so, one is redirected to Instacoins via a deep integration. The same scammers that operate LonghornFX and CedarFX also operate CryptoRocket with the very same white-label mutation and Instacoins.

The CedarfFX broker scam presents itself with a green touch. The offshore entity Cedar LLC in St. Vincent & The Grenadines allegedly operates the scheme. Victims can deposit their funds with Bitcoins or via credit and debit card and bank transfer. However, when doing so, one is redirected to Instacoins via a deep integration, as CedarFX transmits the recipient wallet to Instacoins. This means that cryptos purchased by customers on Instacoins are automatically transferred to CedarFX's

The world has changed massively for investors in recent years with social media. As in politics, decisions about investments are increasingly being influenced by Instagram, Facebook, YouTube or WhatsApp, and Telegram. The old-fashioned bank or investment advisor has been replaced by apps and by the new guild of influencers which often work as affiliates of financial services providers such as EagleFX. Influencers are a new profession and social role model. Hashtags are the most important sales instrument for financial providers and their influencers.