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These Financial Service Providers are NOT Under the Supervision of BaFin
According to updates from the German financial regulator BaFin in October 2024, the following brokers are not authorized under the KWG to conduct banking business or provide financial services.
These unauthorized operators offer financial and investment services on their websites without the necessary approval.
Some of the unlicensed brokers were even trying to convince the public that they were fully regulated by watchdogs by claiming or implying to be famous firms.
If you find your broker is on the list of warned brokers in October, please immediately stop paying and seek help from your local enforcement agencies and financial watchdogs.
LC-Markt LTD
Website: lc-markt.co
Notice: BaFin has warned another website lc-markt.com used by the entity in July. Compared to the previously used one, the new website’s introductory sentence has been changed to “Your Platform for Limitless Success”.
Prime Path Ltd.
Website: procoins.net
Website: swisspro24.io
Notice:
-BaFin has warned several identical websites with their homepage displaying the phrase: “Step Up Your Trading with [name of operator]”.
-The broker claims to be located in London, UK.
Green-Vest Investment Company
Website: green-vest.net
Notice: BaFin has warned an identical website green-vest.io in April.
Advanced Trading System Group (ATS Group)
Website: advtradegroup.com
FinFlex
Website: finflex.info
Notice: The identical website finflex.info was warned by BaFin in August. The two websites both display the opening sentence “Upgrade Your Trading With…”.
IMC-Capital Ltd
Website: capital-imc.net
Quanta Capital
Website: quantacapital.com.co
Notice: BaFin first warned this unlicensed entity in June.
Investment PTE LTD / Performance Investment PTE LTD
Website: investment-pte.com
Notice: The firm claims to have a registered office in Singapore and to be regulated in St Vincent and the Grenadines, a country without forex regulator.
OTC Europa
Website: otceuropa.com, otceuropa.info, otc-500.support
Notice: BaFin has warned a connected ‘OTC-500’ platform before.
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