VELTYCO’s Planned Launch of a Regulated Financial Brand in 2019

Announcement from VELTYCO

On December 31, 2018, publicly listed VELTYCO GROUP PLC, associated with Uwe Lenhoff (main shareholder) and Marcel Noordeloos (CFO), released a statement forecasting the launch of its own regulated financial trading brand during the first quarter of 2019.

Originally, this launch was expected in the fourth quarter of 2018, but according to the update, the company was still awaiting regulatory approval. Considering VELTYCO’s history with unregulated financial ventures, this announcement raised considerable skepticism. Based on past activities, such an approval would likely not serve the best interests of investor protection.

VELTYCO’s Track Record and Regulatory Concerns

There are serious doubts as to whether a legitimate financial regulator would issue a license to a firm with VELTYCO’s past. The company and its executives have been connected for years to various unlicensed and heavily criticized broker brands, including:

• Option888

• ZoomTrader

• XMarkets

These platforms have been:

• Warned against by multiple financial authorities

• Connected to a large volume of investor complaints

• Operated through offshore structures to avoid legal scrutiny

VELTYCO appears to have developed a strategy of regulatory evasion by routing operations through loosely regulated jurisdictions.

The Option888 “Regulation” Narrative

In recent weeks, the website for Option888, one of VELTYCO’s unregulated brands, began listing Celestial Trading Ltd as its operator. This entity claims to operate under a sub-license issued in Montenegro. Additionally, all card payment processing is allegedly handled by Celtic Pay Ltd, a company previously flagged by the UK Financial Conduct Authority (FCA).

Claimed Legal Disclaimer from Option888 Website:

“Option888 is owned and operated by Celestial Trading Ltd. Licensed and regulated by the Montenegro Security Exchange Commission (Sub-license number: SCMN 04/4-9/6-17). Payments via credit cards are processed by Celtic Pay Ltd. Dept 1308, 43 Owston Road, Carcroft, Doncaster, United Kingdom, DN6 8DA.”

This raises several red flags:

• Montenegro is not part of the European Union, meaning such licenses cannot be passported into EU jurisdictions.

• The sub-license structure mentioned is vague and lacks transparency.

• No details are provided regarding the issuing authority or legal validity of this arrangement.

Can VELTYCO Be Licensed at All?

Given VELTYCO’s negative reputation, regulatory warnings, and business ties to known scam brands, it is difficult to imagine any reputable financial authority issuing a trading license to the group. However, regulatory decisions can be unpredictable. It’s possible that authorities may prefer to monitor a licensed entity rather than allow it to continue offshore operations beyond their reach.

Regardless, investors should remain extremely cautious when dealing with any brand linked to VELTYCO or its affiliates.

Table: Entities Linked to VELTYCO and Concerns

What Should Affected Investors Do?

If you have suffered financial loss through any of the following platforms:

• Option888

• Tradeinvest90

• XMarkets

• XTraderFX

• GToptions

• StoxMarket

• Bluetrading

• FXTrade777

• KayaFX

…you are strongly encouraged to:

Next Steps for Victims:

1. Collect all documentation: transaction history, emails, account screenshots.

2. Report the incident to your national financial regulator.

3. Submit your information via a reliable whistleblower platform or legal counsel specializing in fraud recovery.

4. Warn others by posting verified reviews on financial watchdog portals.

Final Thoughts

VELTYCO’s announcement of launching a regulated financial brand raised significant doubts, especially considering its deep ties to unregulated and widely criticized brokerages. As long as firms like Celestial Trading Ltd and Celtic Pay Ltd remain in the background of its operations, skepticism is warranted. Regulatory bodies and investors must continue to scrutinize such companies to ensure accountability and investor safety.