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Tag: Payredeem

August 27, 2023

Cyprus-Based Offshore Broker XtreamForex Included In Orange Compliance List!

Several legal entities in different jurisdictions operate the XtreamForex scheme. On the one hand, there is Xtream Markets Ltd in Mauritius, registered as an investment dealer with the Financial Services Commission (FSC) in Mauritius since 2023. The website also mentions Xtream Markets Ltd in the Marshall Islands as the website's owner. The client agreement also mentions Grand Investing Ltd. We have added XtreamForex to our Red Compliance List.

July 13, 2023

Introducing Vanuatu-Broker AdroFX: Initial Review And Compliance Check!

As part of our systematic coverage and evaluation of offshore brokers, we also looked at AdroFX, a multi-asset broker registered in Vanuatu with the VFSC as a Financial Dealer. Like many other offshore brokers, AdroFX also addresses retail traders in the regulatory regimes of Europe, North America, and Asia without the required regulatory permission. Due to the lack of licenses and regulatory lapses, we have placed AdroFX on our Red Compliance List.

June 12, 2023

Red-Listed Offshore Broker LQDFX Changes Jurisdictions and Offers Leverage Boost 1:1000

Red-listed offshore broker LQDFX has been on our radar for about two years. The scheme was founded by the well-known fintech entrepreneur Ozan Ozerk a/k/a Ozan Özerk, who founded several regulated ventures, including OpenPayd or EuroTrader. The UK FCA recently warned against the offshore broker LQDFX,which is now operated via Saint Lucia and Bulgaria. The broker announced a 1:1000 leverage boost for micro accounts. Be very cautious.

December 23, 2022

Offshore Broker LQDFX Facilitated By Confirmo And PayRedeem!

Offshore broker LQDFX has been on our radar for about two years now. The founder is the well-known fintech entrepreneur Ozan Ozerk a/k/a Ozan Özerk, who founded several regulated companies in the UK, Lithuania, and other EEA jurisdictions such as OpenPayd or EuroTrader. The UK FCA has recently issued a warning against the offshore broker LQDFX, violating the EEA regimes' regulatory requirements. The offshore broker is facilitated by the crypto payment processor Confirmo. It also accepts payment cards issued by PayRedeem.

November 24, 2022

Regulatory Warning Against Offshore Broker Scheme LQDFX!

Offshore broker LQDFX has been on our radar for about two years now. This is also because of its interesting background. The founder is the well-known fintech entrepreneur Ozan Ozerk, who founded several regulated companies in the UK, Lithuania, and other EEA jurisdictions. OpenPayd or EuroTrader are projects of Ozan Ozerk. The UK FCA has recently issued a warning against the offshore broker LQDFX, violating the EEA regimes' regulatory requirements.

Gemini Trust Slapped with $5 Million Penalty for Misleading CFTC

The U.S. Commodity Futures Trading Commission (CFTC) has issued a $5 million fine to Gemini Trust Company LLC for making false or misleading statements during a 2017 bitcoin futures contract certification process. The order stems from the CFTC’s July 2, 2022, complaint against Gemini Trust. The case highlights the importance of truthfulness in regulatory disclosures.

Crypto Fraud Unveiled: Mosaic Exchange and CEO Hit with $1.1M Penalty for Crypto Scheme

The U.S. Commodity Futures Trading Commission (CFTC) has secured a $1.1M judgment against Mosaic Exchange Ltd. and its CEO, Sean Michael, for running a fraudulent digital asset scheme that targeted 18 victims globally. The judgment exposes their misuse of funds, false profit claims, and deceptive practices. The orders stem from the CFTC’s three-count fraud complaint filed Sept. 26, 2023.

Attention: The MoonPay Acquisition of Helio May Trigger a Merger and Take-Over Wave in the Crypto Space.

MoonPay, a leading U.S. crypto payments platform focused on high-risk sectors, has acquired Helio, a Solana-based blockchain payment processor, for $175 million, marking the start of what could be a series of strategic mergers in the digital asset space. This acquisition, MoonPay's largest to date, aims to enhance its payment infrastructure and expand its services in the rapidly evolving cryptocurrency payments sector.

Investor Briefing: The Bear in Crypto Town – Potential Crypto Sector Crash Analysis

The crypto market has entered a period of heightened volatility and uncertainty in recent weeks. Despite a brief recovery at the beginning of this week, the overall trend remains bearish, with Bitcoin and other major cryptocurrencies experiencing significant price fluctuations. As the Fed has been warned of a looming crisis, bitcoin and crypto traders are nervously watching for whether the combined crypto market will drop below the key $3.2 trillion level.

The Clock is Ticking for TikTok: Can the App Dodge a U.S. Ban?

The US is edging closer to a definitive ban on TikTok, the Chinese-owned social media app that has dominated global digital culture. Despite a surprising show of goodwill from incoming President Donald Trump, the odds on prediction markets like Polymarket suggest a 67% likelihood of a ban before May 2025. This looming threat raises urgent questions.