Tag: PO Trade

FinTelegram has already issued several warnings against the offshore broker PO Trade, which is included on our Red Compliance List. PO Trade and PocketOption are the trading names of this offshore broker scheme which has legal entities in various offshore jurisdictions such as Marshall Islands or St. Lucia. We recently published a report on fake reviews of PocketOption on Trustpilot. The Spanish CNMV issued a warning against PO Trade on April 8, 2024.

PocketOption is an offshore broker that has secured a spot on FinTelegram's Red Compliance List due to its dubious operations. Allegedly, PocketOption is managed by Infiniti Trade LLC, a firm with registration in Costa Rica. Similarly, PO Trade, closely linked with PocketOption, is run by PO Trad Ltd, which is based in St. Lucia. Trustpilot informs that it found fake reviews of PocketOption and deleted them. Stay far away.

The Russian-controlled high-risk payment processor Payeer has been on our radar since 2021. Since then, the operating companies behind the payment facilitator have changed several times. We have also discovered Payeer to be a facilitator of scams during this time. Currently, Payeer is one of the payment facilitators for the (interconnected) offshore broker schemes Pocket Option and PO Trade, alongside Advcash and Perfect Money. Here is our latest update.

We downgraded Russian-controlled offshore broker PocketOption to our black compliance list a few weeks ago in light of its numerous regulatory warnings. In recent months, PocketOption a/k/a PO Trade a/k/a PO has also addressed the Russian market, which is actually blocked by Western sanctions, through a network of new domains and websites and acquired retail traders. Here is an update on PocketOption.

We have warned several times in recent months about the offshore broker Pocket Option a/k/a PocketOption or PO Trade, which was previously on our Red Compliance list. One of our readers brought to our attention that there are warnings against PocketOption from regulators worldwide. The offshore broker scheme is on the warning lists from the U.S. over Brazil and Europe to Malaysia. We have therefore downgraded PocketOption and placed it on our black compliance list.

Most recently, the Belgian FSMA has placed the offshore broker scheme PocketOption a/k/a PO Trade on its blacklist. Over the past few years, several regulators have already warned against the unregulated broker. For a few weeks, PocketOption has been operated by Infiniti Trade LLC, a company registered in Costa Rica. Before that, it was Gembell Limited. We have added PocketOption to our Red Compliance list.

In December 2022, we brought our initial report on the offshore broker PocketOption, allegedly operated by the offshore entity Gembell Limited in the Marshall Islands. PocketOption is connected to PO Trade, operated by PO Trade Ltd. The Russian Evgenii Kalashnikov controls the schemes. According to the latest Similarweb statistics, PockeOption acquired almost 18% of its clients in the U.S. Deposits are possible with credit/debit cards, Jeton, Perfect Money, Webmoney, Advcash, or via crypto. Stay far away and protect your financial health.

The offshore broker PocketOption is allegedly operated by the offshore entity Gembell Limited in the Marshall Islands. We found that PocketOption is connected to PO Trade and controlled by the Russian Evgenii Kalashnikov. Both offshore schemes supposedly do not accept clients from the U.S. or EEA, however, it was no problem to register as a resident of these regulatory regimes. Deposits are possible with credit/debit cards, Jeton, Perfect Money, Webmoney, Advcash, or via crypto. Stay far away and protect your financial health.

On December 20, 2021, the Italian regulator Consob issued a warning against a total of 15 websites that offer illegal financial services or are scams. In contrast to the last weeks, Consob did not announce a blackout of the websites. Among those warned is also the offshore broker Moneta Markets and its operator Vantage Global Limited. In addition, the Italian regulator has also warned about several fraudulent Bitcoin marketing campaigns. Below is the list of the latest warnings:

The UK FCA has again issued warnings against two unregulated crypto trading schemes. These are CryptoMarginPro (www.cryptomarginpro.com), operated by the offshore entity PO TRADE LTD, registered in Saint Lucia, and TradeCryptoVariety (www.tradecryptovariety.com), which TradeCryptoVariety Ltd allegedly operates in Sweden. However, the website gives an address in San Diego, United States. Stay Far Away; we believe these schemes are scams!

We have received information from victims that LedgerOptions is currently active and hunting for victims via fraudulent marketing campaigns. In our brief review, we were able to determine that LedgerOptions is a typical white-label scam allegedly operated by Marshall Islands-registered Ledgeroptions Limited. Payments of victims are processed by Tifiya Group in the EU. Do not fall for this scam; stay far away from these scams.