RoboForex Ltd, an offshore brokerage firm registered in Belize and regulated by the Financial Services Commission (FSC) Belize, has been added to the Red Compliance List due to several regulatory concerns. Operating under the brand name RoboForex, the company offers financial services in the European Economic Area (EEA) without the necessary authorization. Additionally, the firm provides leverage up to 1:1000, exceeding the limits set by EEA regulators.
Company Overview
| Aspect | Details |
| Trading Names | RoboForex, RoboMarkets |
| Business Activity | Forex and CFD brokerage services |
| Domains | – roboforex.com – roboforex.org – roboforex.ua – robomarkets.com |
| Legal Entities | – RoboForex Ltd (Belize) – RoboMarkets Ltd (Cyprus) – Guru Gateway Ltd (formerly GuruHosting Ltd, Cyprus) – RoboGate Limited (Gibraltar) – Processonix Limited (Australia) |
| Jurisdictions | Belize, Cyprus, Gibraltar, Australia |
| Authorizations | – FSC Belize (RoboForex Ltd) – CySEC License No. 191/13 (RoboMarkets Ltd) |
| Leverage Offered | Up to 1:1000 |
| Payment Processors | – Payabl – ShubaPay – Revolut – N26 – Perfect Money – AdvCash – Sofort – EPS – Unlimit |
| Related Individuals | – Nikolay Gerashchenko – Andrei Dziarnovich – Svetlana Saratova – Vitaly Avtaykin |
Website Traffic Analysis
As of August 2023, RoboForex’s website attracted over 1.8 million visitors, with significant traffic originating from Russia (12.2%) and Germany (5.9%). In contrast, the CySEC-regulated RoboMarkets Ltd, operating under the brand name RoboMarkets, recorded approximately 151,000 visitors during the same period, with a notable portion also coming from Russia. This disparity suggests that the majority of client engagement occurs through the offshore entity, RoboForex Ltd.
Payment Processing Partnerships
RoboForex collaborates with payment agents across various jurisdictions:
- Cyprus: Partners include the CySEC-regulated RoboMarkets Ltd and Guru Gateway Ltd (formerly GuruHosting Ltd), managed by Evgenii Vtiurin.
- Gibraltar and Australia: Engages with entities such as RoboGate Limited and Processonix Limited for payment processing services.
For credit card transactions facilitated by Payabl, RoboMarkets Ltd acts as the payment agent.
Compliance Concerns
Several compliance issues have been identified:
- Unauthorized Services: RoboForex offers financial services in EEA countries without the required regulatory permissions.
- Excessive Leverage: The firm provides leverage up to 1:1000, which surpasses the regulatory limits established within the EEA.
- Pre-KYC Deposits: Allows pre-Know Your Customer (KYC) deposits exceeding €2,500, contravening standard regulatory practices.
Due to these violations, RoboForex has been placed on the Red Compliance List. Additionally, the Cyprus Securities and Exchange Commission (CySEC) recently instructed RoboMarkets Ltd to cease offering non-financial incentives to retail clients, citing breaches of CySEC and European Securities and Markets Authority (ESMA) regulations.
Call for Information
Individuals possessing information about RoboForex, its operations, or associated entities are encouraged to share details through the whistleblower platform, Whistle42. Your contributions are vital in promoting transparency and compliance within the financial services industry.