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Tag: TechFinancials

The Defamation Campaign Of Cyprus Broker Scheme XBPrime!

Illegal Broker Activities Ben -
We brought an initial review of the XBPrime broker operated by the offshore entity MarketFinancials Ltd, a securities dealer registered by the FSA Seychelles. The truth is that XBPrime is run out of Cyprus via M&N Equity Research Ltd. The offshore entity is said to be owned by Cyprus-registered Proverial Ltd, where Israeli Asher Afriat is registered as a director. This guy also used to be the director of the CySEC-regulated K-DNA Financial Services Ltd, which later became FTX (EU) Ltd.

Offshore Broker XBPrime And Its Connections To FTX Europe!

Crypto Schemes Ben -
We brought an initial review of the XBPrime broker operated by the offshore entity MarketFinancials Ltd, a securities dealer registered by the FSA Seychelles. The payment agent is Cyprus-registered M&N Equity Research Ltd. The offshore entity is said to be owned by Cyprus-registered Proverial Ltd, where Israeli Asher Afriat is registered as a director. He is also a director of the CySEC-regulated FTX (EU) Ltd (formerly K-DNA Financial Services Ltd), which operated as FTX EU. CySEC recently suspended the license of FTX Europe (report here).

Finally! Unauthorized Offshore Broker BKFX Allegedly Terminates European Operation!

FSCA Charlene Lensburg -
We have already alerted investors against the offshore broker BKFX, operated by the FSCA-regulated BKFX (Pty) Ltd in South Africa and BKFX LLC registered in St. Vincent & The Grenadines. BKFX solicited clients from the EU, UK, and other jurisdictions withouth regulatory permission. In an email we received today in our several accounts, BKFX informed that it would terminate the business in our country, i.e., in the EU and the UK, by 31 August 2022. That's good news for investors. Goodbye and please don't come back!

Offshore Broker BKFX Continues To Solicit Clients in Europe!

Illegal Broker Activities Charlene Lensburg -
We have already alerted investors against the offshore broker BKFX, operated by the FSCA-regulated BKFX (Pty) Ltd in South Africa and BKFX LLC registered in St. Vincent & The Grenadines are the operators. BKFX offers leverage of up to 1:2000 and aggressive bonus schemes. In the EU and UK, a maximum of 1:30 is allowed. However, BKFX accepts clients from the EU, UK, and most other jurisdictions where it operates unauthorized and non-compliant. Until 2020, BKFX was operated by MarketFinancials registered in Seychelles.

Offshore Radar! CySEC-controlled Seychelles broker MarketFinancials and its brands!

FSA Seychelles Ben -
In Jan 2020, Finance Magnates reported that Growth Capital LLC, part of CySEC-regulated Mount Nico Group Ltd, would be a subsidiary of Saint Vincent and the Grenadines-based broker Invest100. The latter is just one of several offshore brokers facilitated through the FSA Seychelles regulated MarketFinancials Limited. We also found xpprime and bkfx. The latter used to be operated by MarketsFinancial until 2020 but is now operated by South African BKFX (Pty) Ltd and BKFX LLC in SVG.

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