Warnings From Regulator: BaFin Investigates These Unregulated FX Brokers in June
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.
FNX Network
Website:fnx-network.com
Ninety One Group Ltd
Website: smartinvest24.com
Notice: It is also not affiliated with the BaFin-supervised company Ninety One Luxembourg S.A..
Aphelium Trade Cyprus Ltd / Aphelium Trade Ltd / Aphelium Trade UK Limited
Website: apheliumtrade.com
Notice: This broker is not regulated by FCA and CySEC as it claimed. It could be an identity theft against some firms in the UK.
Ice Goose LLC
Website: flextrader.co
Notice: The firm is registered in St. Kitts and Nevis and claims to have offices in London. 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]”.
Website: agallianz.de
Notice: The operator claims to be located in London. Other similar websites also caught the attention of BaFin with those websites' homepage displays the phrase: “Step Up Your Trading with [name of operator]”.
Global-XCrypto
Website: global-xcrypto.com
Notice: It is one of several online trading platforms that display the opening sentence "Upgrade Your Trading With ...". Other identical websites are:
mayfaircap.io
marginstrade.com
capitalpartners24.com
cryptoglobalx.com
capitalmarket24.com
fcapital24.com
forindex.com
MarketTrend24
Website: market-trend24.com
JPM Broker
Website: jpmbroker.com
Notice: The broker claims to have its registered office in the UK.
Quanta Capital
Website: quantacapital.co
Bit-Wise
Website: bit-wise.co
HighTrustCapital
Website: brokerinteraktive.com
Iventium pro Investment Company
Website: iventiumpro.io
Notice: 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]”.
Limitrex
Website: limitrex.com
Notice: The broker is not regulated in the UK as it claimed.
Vortex Capital
Website: vortexcapital.ltd
ProFX Desk / Sanbarnet Group Limited
Website: profxdesk.com
Notice: The broker claims to be located in St. Lucia but cites a different address in Nevis when dealing with customers.
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