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Conned but thought it may be a con

fintech are con artists! what are they using the funds for? terroism or just gives someone a easy life. It appears a few work for the company as I have had several people call. not sure how they can look anyone in the eye and tell them what they do as a job.
Stupidly I signed up to them as I thought I’d give it ago, I did say I would gamble a small amount and no more. they said it wasn't a gamble. no calls back now as I requested a withdrawal of money. cancel your bank card used for any deposit.

Nigel Jackson 2018-05-22
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Latest Forex News

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Jan 24 2020 12:46:03, Jonathan Smith in Market

  The Austrian Financial Market Authority (FMA) has officially warned the public against doing business with Prestige.FM and Prestige Financial Markets – two forex brokerage brands operated by unregulated Estonian company Euro Wealth OÜ (previously AllProTech OÜ).   The FMA says that the company operates via two domains - www.prestigefm.io, and www.prestige.fm, apparently targeting Austrian investors without proper authorization.   Both Prestige.FM and Prestige Financial Markets offer trading on some oversimplified platform with rather poor trading conditions. Read more

Vodafone also leaves Libra

Jan 23 2020 17:34:17, Jonathan Smith in Market

The leading British telecom Vodafone is leaving Facebook's digital currency project, Libra.    Vodafone is the latest of a series of companies, which recently decided to withdraw from the project amid growing regulatory pressure from major central banks and many governments.   Most notably back in October Libra Association was also abandoned by Paypal, MasterCard, Visa and eBay after the European Central Bank, along with the Bank of England and the governments in Berlin and Paris warned that crypto currencies such as Libra pose a risk to the global financial system. Read more

SEC brings charges over fraudulent ICO that raised $600,000

Jan 22 2020 17:17:56, Jonathan Smith in Market

  The US Securities and Exchange Commission (SEC) has charged Sergii “Sergey” Grybniak and his company Opporty International, Inc. for conducting a fraudulent initial coin offering (ICO), which has scammed investors of $600,000 with unregistered digital asset securities.   The SEC’s complaint alleges that Grybniak and his company have illegally raised the money from nearly 200 investors in an ICO of the so called “OPP Tokens”, which were sold using a SAFT (Simple Agreement for Future Tokens) agreement. Read more

UK's FCA might ban credit card deposits with online forex and CFD brokers

Jan 20 2020 18:21:17, Jonathan Smith in Market

After earlier this month the UK Gambling Commission (UKGC) announced that after April 14th 2020 clients of gaming websites will no longer be able to use credit cards to fund their bets, some experts and analysts say it is high time that the UK's Financial Conduct Authority (FCA) do the same, as quite too many retail investors rely on their credit cards to make deposits on forex and CFD trades.    “Debt shouldn’t be creating more debt for the retail consumer”, says  Rod Martenstyn,  former CEO of GKFX, quoted by Finance Magnates. Read more

The CNMV remains vigilant, blacklists Forbslab and eTrader247

Jan 20 2020 14:32:21, Jonathan Smith in Market

 Unregulated forex brokers Forbslab and eTrader247, along with several other alleged scammers, have been the latest additions to the warning list of Spanish financial watchdog – the Comision Nacional del Mercado de Valores (CNMV).   ForbsLab is an offshore broker that has already been blacklisted by Luxembourg’s financial watchdog, the CSSF. The broker is allegedly owned and operated Walsh Invest & Trade Ltd or Kayescent Corp., a company registered on the British Virgin Islands.    eTrader247’s website, on the other hand is completely anonymous, lacking any company information whatsoever. Read more

Crypto scammer Patrick McDonnell sentenced to 33 months of imprisonment

Jan 17 2020 14:54:19, Jonathan Smith in Market

Patrick McDonnell, CEO of Coin Drop Markets, was sentenced to 33 months in federal prison and also ordered to pay $224,350 in restitution, after pleading guilty to cryptocurrency fraud last year. The Federal court in Brooklyn issued the sentence on Thursday.   Through his company Cabbage Tech Corp., also known as Coin Drop Markets, the 47-year-old New Yorker defrauded at least 10 victims of around $194,000, plus additional virtual currency funds, for a total loss of $224,350, officials said. The criminal activity took place between November 2014 and January 2018. Read more

FC Barcelona and FBS Sign New Global Partnership Agreement

Jan 17 2020 13:05:55, Forexbrokerz.com in Brokers

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UK's FCA expects up to 10% decline of profits in the forex industry

Jan 16 2020 17:47:56, Jonathan Smith in Market

The Financial Conduct Authority (FCA) expects that the new regulations imposed on the retail forex and CFD brokers in the UK will lead to an overall reduction of their profits of between 6% and 10% - a decline which by the year 2021 may reach between 38.5 million GBP and 55.3 million GBP.   The data comes from the latest FCA impact assessment, published on Thursday, which measures the effect of the new leverage restrictions, adopted back in 2018.    According to the current rules, applied both in the EU and the UK, the maximum leverage a broker might offer its clients is 1:30 for major forex pairs, 1:20 for most CFDs and 1:2 for crypto CFDs. Read more

UK’s FCA updates its warning list with A.B.Capitals and LincolnFX

Jan 16 2020 16:48:27, Jonathan Smith in Market

  Another bunch of brokers have made it to the warning list of UK’s Financial Conduct Authority since the beginning of 2020. We’ll focus on two of them - A.B.Capitals and LincolnFX – which, according to the British financial watchdog, have been providing financial services to UK investors without a proper license.   As a matter of fact, the FCA exposed LincolnFX as a clone firm of company duly regulated in the UK with the name Lincoln Finance Ltd. The official warning reads that fraudsters are using the details of FCA-licensed firms to try to convince investors that they work for a genuine, authorised firm. Read more

Coinbase will pay $1 mln to victims of the Cryptsy hack attack

Jan 15 2020 18:06:18, Jonathan Smith in Market

Coinbase, the San Francisco based crypto exchange, has agreed to pay 962500 USD as a compensation  to victims of the Cryptsy hacker attack, in an out of court settlement, court papers reveal.   In January 2016 after a hacker attack in which some 13 000 Bitcoin and 300 000 Litecoin were stolen,  Cryptsy filed for bankruptcy. Of the stolen crypto coins over 10 000 Bitcoins belonged to customers.   On it part Coinbase got involved in the case, when victims of the attack accused it of helping to launder part of the stolen coins. In an official complaint filed in December 2016 Coinbase was accused of laundering some 8.2 million USD in digital currencies. Read more

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