Tag: Novo Trade

Investor warning against Onyx Trade Group and Lencher ExPro!

BaFin Charlene Lensburg - October 21, 2021

The UK FCA has issued an investor alert stating that Onyx Trade Group (www.onyxtradegroup.uk) is not authorized to offer financial services in the United Kingdom. The online broker is allegedly operated by Lencher ExPro LLC, registered in St. Vincent & The Grenadines. This offshore entity also operated the Novo Trade (www.novo-trade.de) scam against which the German BaFin warned. Today, Onyx Trade Group's website was only partially functional. However, it is possible that the scammers will reboot with a new domain soon.

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