Tag: UnionPay

In October 2022, we issued a warning against the offshore brokerage scheme Opofinance, operated by offshore entities in the Seychelles and St. Vincent & The Grenadines. Opofinance operates under a securities dealer license from the FSA Seychelles in most regulatory regimes worldwide without a license. In doing so, Opofinance also violates regulatory requirements and falsely claims that membership with the Financial Commission will protect investor funds. Compliance rating: Red!

Opofinance (previously Opoforex) is an unregulated offshore broker operated by Opo Group Ltd in the Seychelles and Opo Group LLC in St. Vincent & The Grenadines (SVG). The offshore broker is a member of The Financial Commission, a private dispute resolution organization. The broker has an offshore securities dealer license from the FSA Seychelles, which does not authorize Opofinance to offer financial services in Europe, North America or any other regulatory regime. Traders are not protected under any regulatory regime outside Seychelles.