de | cn | ru

Market News

FSMA warned against 365 Markets, CFDS100, FXG Trade, HybridReserve, and PBN Capital

Feb 22 2019
By
Jonathan Smith

 

The Belgian Financial Services and Markets Authority (FSMA) issued an official notice on Tuesday, warning the public against 365 Markets, CFDS100, FXG Trade, HybridReserve, and PBN Capital. The financial regulator stated that these brokers are unlawfully offering binary options, forex products and/or CFDs on the Belgian market, and are most likely involved in investment scam.

 

Therefore, FSMA strongly advises against responding to any offers of financial services made by the brokers mentioned above. Actually, all of them are already present in the warning lists of other financial regulators:

 

- forex and binary options broker 365 Markets (Trustnet Ltd) operating via www.365markets.com, was blacklisted by the UK’s Financial Conduct Authority (FCA) and the Financial Markets Authority (FMA) of New Zealand;

- Estonian broker CFDs100 (Trsystem Limited) operating via www.cfds100.com, is present in the alert list of the FCA and the Bank of Lithuania;

- Bulgarian brokerage FXG Trade (Capital FXG Ltd / Nordic Pearl Ltd) operating via www.fxgtrade.com, is also blacklisted by the UK’s FCA, as well as by the Italian CONSOB and the Belgian Financial Services And Markets Authority (FSMA);

- offshore HybridReserve (Singlebell LTD / SingleBell OU operating via operating via www.hybridreserve.com was blacklisted by the FSMA;

- FSMA and CONSOB both issued a warnings against PBN Capital (Capital Tech Ltd / Pbox Ltd) operating via www.pbncapital.com. The companies behind the brand run two more brokerage brands - PBN Trade and PBN Invest.               

 

Considering the above warnings by various financial regulators and the number of negative user comments on our reviews of these brokerages, there’s no doubt that all of them are running investment scams.

 

In its official notice, the Belgium’s financial watchdog has also included a list of recommendations to investors. FSMA advises them to verify the identity of the company offering financial services, to check whether it is licensed, whether it is present in warning lists published by FSMA and other regulators. The regulator also recommends that investors are wary of unsolicited phone calls/emails (cold calling), of requests for money transfer to a country without any connection to the company, of "cloned firms", etc.

 

We would also like to remind you that in August 2016 Belgium officially prohibited trading in any forex and binary options products in an attempt to put an end to the scams run by fraudulent brokers. The ban includes both regulated and unregulated companies.

TAGS: FSMA  365 Markets  CFDS100  FXG Trade  HybridReserve  PBN Capita  warning  scam  Belgium 
Forex
Broker Country Regulation Platform Min Deposit Review
Cyprus, UK, Mauritius CySec, FCA, FSC MT4, MT5, Web $10 Review Website
Cyprus, SVG CySEC MT5, Web,
cTrader
$100 Review Website
Australia, Cyprus ASIC, CySEC MT4, MT5,
IRESSTrader
$100 Review Website
Cyprus, Australia CySec, ASIC MT4, MT5 $5 Review Website
UK, Australia, South Africa FCA, ASIC, FSCA MT4, Trading
Station,
NinjaTrader
$50 Review Website
UK, Cyprus, UAE, South Africa FCA, CySEC, DFSA, FSB MT4, MT5, FxPro
Markets,
cTrader
$100 Review Website
Cyprus CySEC MT4, MT5, Web $1 Review Website
Belize IFSC MT4, MT5 $100 Review Website
Cyprus, UK, South Africa, UAE CySec, FCA, FSCA, DFSA MT4, MT5, Web $5 Review Website
Cyprus, UK CySEC, FCA MT4, MT5 $1 Review Website
UK FCA MT5 $5 Review Website
UK FCA MT4, Web, MT4
for Mac
$100 Review Website
Australia, UK ASIC, FCA MT4, MT5,
cTrader
$200 Review Website

More Forex Market News

CFTC warns about 20 new forex and binary options scams

Dec 06 2019 17:46:44

The US Commodity Futures Trading Commission (CFTC) updated its warnings list with twenty new forex and binary options scam websites, bringing the total blacklisted websites to nearly 150. Read more

Thai authorities seize over 15 million baht from Forex-3D scammers

Dec 06 2019 10:38:02

  Officials from the Thai Department of Special Investigation (DSI) seized over 15 million baht from the owner of Forex- 3D Ponzi scheme and his associates, the Bangkok Post reported on Thursday. Read more

EU finance ministers agreed to block Libra

Dec 05 2019 13:46:59

EU finance ministers have agreed that  private digital currencies like Libra – the crypto coin Facebook plans to launch in 2020, should not be allowed in the European Union until all possible risks are identified and properly addressed, Reuters reports. Read more

CFTC looks for a binary options scammer who defrauded investors with $3,8 mln

Dec 03 2019 17:20:38

The United States Commodity Futures Trading Commission (CFTC) apparently can not locate Peter Szatmari, who defrauded nearly 4 million USD from binary options investors. Read more

Bulgarian court allows the extradition of Gal Barak to Austria

Dec 02 2019 17:51:14

After a successful operation of the police in Austria, Germany, the Czech Republic and Bulgaria has lead in February to the arrests of several financial executives, among which the Izraeli citizen Gal Barak, who is charged of orchestrating an online trading scam, that allegedly has defrauded Europea... Read more

Italy’s CONSOB blacklists EvolutionBrokers and KapitalSwiss

Dec 02 2019 15:30:33

   Italy's financial regulator Commissione Nazionale per le Societa e la Borsa (CONSOB) has blacklisted a bunch of unregulated brokers today, including EvolutionBrokers, and KapitalSwiss. CONSOB also ordered internet providers to block access to their websites. Read more

91 arrested in Indonesia over an online investment scam

Nov 29 2019 10:32:00

The Indonesian police has arrested 85 Chinese nationals and 6 Indonesians over an online scam that defrauded victims of over 36 billion Indonesian rupiah (2,56 million USD). Read more

Second person arrested in connection to OneCoin money laundering

Nov 28 2019 17:36:36

David R. Pike, a chief operating officer of Fenero Funds was arrested by the U.S. authorities in connection to laundering some 400 million USD, stolen through the notorious OneCoin Ponzi scheme.   Pike appears to have worked with the convicted OneCoin layer Mark S. Read more

UpBit hacked for $50 mln

Nov 27 2019 17:05:16

After a hacker attack South Korean crypto exchange UpBit has lost some 342 000 Ethereum (ETH) coins, equal to well over 49 million USD. The exchange has assured its clients that the loses will be covered by its own assets, but for the time being all withdraws have bees suspended. Read more

Charles Schwab buys TD Ameritrade for $26 bln

Nov 26 2019 18:01:43

Expected to be finalized in late 2020, the merger between two of the leading U.S. brokerage houses will create a mammoth company that will be in the position to challenge major financial rivals. Read more

de | cn | ru