Warnings From Regulator: BaFin Investigates These Unregulated FX Brokers In July

According to the updates of the German financial regulator in June 2024, BaFin has made clear that the following brokers do not have authorization under the KWG to conduct banking business or provide financial services.

Unknown operators provide financial and investment services on the websites without the necessary authorization.

• IQ Capital Invest

Website: www.iqcapitalinvest.org

• Bitox

Website: bitox.co

Notice:

- The entity claims to be based in London, United Kingdom

- Other similar websites also caught the attention of BaFin with those websites' homepage displays the phrase: “Step Into the Trading Arena with Confidence & [name of website]”.

- No evidence can prove that Bitox is linked to HF Markets (UK) Limited, a FCA-regulated firm.

• FinInsider

Website: fininsider.ai

Notice: FinInsider avails itself of the services of other companies to attract new customers. It also advertises online trading courses that do not exist.

• Genesis Capitals

Website: genesis-capitals.com

Notice:

- The entity claims to be operated by MMS Singular LTD which purportedly has its registered office in London, United Kingdom. In fact, the firm was removed from the British commercial register in June 2023.

- Other similar websites also caught the attention of BaFin with those websites' homepage displays the phrase: “Upgrade your trading with [name of website]”.

• Investment-Group

Website: investmgrp.com

• JustTwoTrade

Website: justtwo.trade

• Globe Elite Options

Website: globeliteoptin.com

• GFT Capitals

Website: gftcapitals.com

Notice: The following websites share identical content with GFT Capitals: barclays.ag, stocket.net, broker-edge.co, finanzeno.com, bitinvesting8.com, equityexperts.pro, bybitprofit.io and qontigo.life.

• Berg Market

Website: berg-mkt.com

Notice: The following websites share identical content with Berg Market: barclays.ag, stocket.net, broker-edge.co, finanzeno.com, bitinvesting8.com, equityexperts.pro, bybitprofit.io and qontigo.life.

• UnoCoin

Website: unocoin.de

Notice: The following websites share identical content with UnoCoin: barclays.ag, stocket.net, broker-edge.co, finanzeno.com, bitinvesting8.com, equityexperts.pro, bybitprofit.io and qontigo.life.

• Capital Ventures

Website: capital-ventures.co

Notice: The following websites share identical content with Capital Ventures: barclays.ag, stocket.net, broker-edge.co, finanzeno.com, bitinvesting8.com, equityexperts.pro, bybitprofit.io and qontigo.life.

• Globalaurus

Website: globalaurus.com

• Mega26

Website: mega26.com

• Prime Ltd

Websites: primeltdinc.global, primeltdinc.pro

Notice:

- The entity claims to be based in Toronto, Canada, and Frankfurt.

- Prime Ltd, aka CADFIRA, was also warned by Ontario Securities Commission.

• FundexCapitals

Websites: fundex-capital.com

Notice: Other similar websites that displays the same introducing sentence: “Upgrade Your Trading With…” also warned by the BaFin.

• TradeStocks24

Website: stockstrade24.com

Notice: Similar websites that share same content and graphic with TradeStocks 24 have warned by the BaFin (fxstocks24.com, centrisfx.com, on-traders.com and chomcapitals.com).

• IMCTradingFX

Website: imctradingfx.com

Notice: Other similar websites that displays the same introducing sentence: “Upgrade Your Trading With…” also warned by the BaFin.

• cryptocmcstocks.pro

Website: www.cryptocmcstocks.pro

Notice: This is a case of identity theft. Neither CMC Markets Germany GmbH nor Pepperstone GmbH operate this website.

• Finanz Market

Website: mib40.org

• GBE Brokers Ltd.

Website: www.gbe-broker.com

Notice: This is a case of identity theft. The clients may misunderstand they are dealing with BaFin-registered firm GBE Brokers Ltd.

• Radiantix

Website: radiantix.io

• MayFairCap

Website: mayfaircap.org

Notice: The identical website mayfaircap.io has been warned by the BaFin on 26 April 2024.