As reported by FinTelegram, the Spanish CNMV and other EU regulators issued investor warnings against the unauthorized offshore broker NewFX. Upon our report, NewFX changed its operating entity and domain. Currently, the operator allegedly is New Finance LLC, registered in Delaware; the active domain is www.newfx.us. NewFX is connected to other offshore brokers such as DBFX or OnspotBNK and to the FCA-regulated One Financial Markets. In our new review on 3 May 2022, we found Praxis Cashier as one of the facilitating payment processors.
|Legal entities||New Financial LLC (Delaware)|
NewFX Limited (old)
DBFX Limited (old)
|Contact data||+357 2209 0674|
+357 9617 0021
|Broker platform||Sirix by Leverate|
|Payment processors||Praxis, FasaPay, Jeton, PayRetailers|
|Warnings||CNVM against NewFX|
MFSA against NewFX
Consob against NewFX
|Identified BTC wallet||1LexZRQbyKgEWpNV41eDJE3bG9vWKq6gwr|
|Related brands||DBFX, OnspotBNK, DubaiFXM|
The NewFX offshore broker scheme works with different domains and offshore entities. However, the actual work is also done in Cyprus. Cypriot phone numbers are given in the emails and on the website.
As a facilitating payment processor of NewFX, we found the Praxis Cashier, through which payments can be made via credit and debit cards, FasaPay, Jeton, PayRetailers, and cryptos. Clients can make crypto deposits via credit and debit cards via CoinDeck. In addition, NewFX also accepts direct deposits of various cryptocurrencies to their wallets. However, the BTC Wallet address identified in our review is not created separately for each client. Rather, this is likely to be a collective wallet to which multiple clients deposit. We do not know how exactly NewFX will be able to assign a particular BTC deposit to a client.
The NewFX scam uses the same payment templates as DBFX, OnspotBNK, or DBinvesting. Obviously, these offshore brokers are closely connected with the FCA-regulated OneFinancialMarkets.
If you have any information about NewFX, DBFX, DBinvesting, their operators, and facilitators, please share it with us through our whistleblower system, Whistle42.