RoboForex is an offshore forex broker operated by RoboForex Ltd, a company registered in Belize under a license issued by FSC Belize. Despite being an offshore entity, the broker also accepts clients from EEA countries. RoboForex is essentially the offshore counterpart of RoboMarkets, a CySEC-regulated broker, and offers leverage of up to 1:1000. According to Similarweb statistics, the RoboForex website attracts over 1.4 million visitors per month, with the majority of traffic coming from Russia, Brazil, Germany, and the UK. Below is an initial review of the broker’s key details. Key Data Short Narrative In our November 9, 2022 review,…
Author: Tom
As former Wirecard CEO Markus Braun awaits his trial in prison, scheduled for December 2022, the Wirecard successor Payabl is experiencing explosive growth. The German-Cypriot high-risk payment processor was founded by former Wirecard executives Dietmar Knoechelmann and Ruediger Trautmann. According to traffic analytics, Payabl’s website visitors surged from approximately 15,000 in July to over 306,000 in October 2022. This rapid expansion is primarily driven by porn industry clients such as xHamsterLive and StripChat. Payabl’s Performance on Similarweb Payabl’s business model strongly resembles that of the now-collapsed Wirecard, focusing on growth through high-risk industries such as porn, gambling, online trading, and…
YesOption was one of the notorious Israeli binary options scams operated by Diamond Global Ltd, registered in the Marshall Islands. Payment processing was handled through Global Online Solutions Ltd in the UK, with one of the payment processors being PowerCash21 (now Payabl), a Cyprus-regulated entity. In 2015, the U.S. Commodity Futures Trading Commission (CFTC) placed YesOption on its red list. Today, YesOption.com claims to operate as a broker review platform and an introducing broker (IB) for companies like IQ Option and Olymp Trade. However, in reality, the website is largely non-functional. Broker links on the site do not work and…
The long-awaited Wirecard trial officially began on December 8, 2022. The central question: Who is truly responsible for the scandal? Key figures in the courtroom include Markus Braun, Wirecard’s founder and former CEO, Oliver Bellenhaus, managing director of Wirecard Dubai, and Stephan von Erffa, the former head of accounting. The prosecution alleges that Braun and his associates ran Wirecard as a criminal enterprise. The court has scheduled 100 days of hearings, which will take place in an underground courtroom in Munich. Key Trial Information The Charges & The Trial At the heart of the indictment is Wirecard’s Third-Party Acquiring (TPA)…
VT Markets is an Australian multi-asset broker regulated by ASIC. Additionally, it operates offshore entities in South Africa and St. Vincent & The Grenadines. However, VT Markets lacks authorization to provide financial services in EEA jurisdictions. Despite this, nearly 40% of its website visitors originate from EEA countries, including Italy, France, and Switzerland. The Spanish regulator (CNMV) has already issued a warning against this offshore broker. A substantial portion of VT Markets’ customer deposits appears to be processed through the Cyprus-based high-risk payment processor Payabl, using its PowerCash21 gateway. Here’s the latest update. VT Markets Update Until Q2 2022, VT…
RoboMarkets Ltd is a CySEC-regulated broker operating under the brand RoboMarkets, while RoboForex is the offshore arm of the scheme, managed by RoboForex Ltd in Belize and regulated by the FSC Belize. The offshore broker actively targets EEA clients and offers leverage of up to 1:1000. According to Similarweb statistics, the RoboForex website attracted over 2.8 million visitors in the past 28 days, with the majority of traffic coming from Mexico, Brazil, and Russia. This offshore broker has seen explosive growth in recent months. Updated Review During our January 24, 2023 review, we successfully registered as EEA residents with RoboForex…
The Cypriot high-risk payment processor Payabl experienced significant growth in 2022, with website traffic surging from under 50,000 visitors to over 340,000 by November 2022. This rapid expansion was largely fueled by pornographic websites, as nearly 50% of referral traffic originated from platforms like xHamsterLive and StripChat. However, in the past 28 days, Payabl’s website traffic has plummeted by over 30%. Referral traffic from adult websites has dropped to less than 17%, and notable sources like xHamsterLive and StripChat are no longer appearing in traffic reports. The Shift in Referral Traffic This trend is also reflected in Similarweb’s analysis of…
FXGT and Global GT are offshore retail brokers primarily targeting clients in Asia. They are operated by 360 Degrees Markets Ltd, a company regulated as a Securities Dealer by the FSA Seychelles. FXGT is part of the GT Group, which includes FintecGT, a CySEC-regulated investment firm and liquidity provider. The payment processors used by FXGT are Payabl and Unlimint, both based in Cyprus. Below is our initial review of the broker scheme. Key Information Short Narrative We found that Panikos Georgiou is both the Compliance Manager for FXGT and Global GT (registered with the FSA Seychelles) and the Chief Operating…
VT Markets is an Australian brokerage scheme that enables retail client onboarding in EEA jurisdictions via offshore entities. The broker provides a maximum leverage of 1:500. Until mid-2022, VT Markets was part of the Vantage Group and continues to operate with an identical infrastructure under different branding. The scheme relies on Payabl and BridgerPay as its primary payment facilitators and has already been subject to regulatory warnings. VT Markets Update According to Similarweb statistics, VT Markets’ website received approximately 213,000 visitors in the 28 days leading up to February 12, 2023. Nearly 40% of these visitors came from EEA regions,…
Klarpay, a financial institution regulated by FINMA with offices in Cyprus, has announced its profitability for the first year of operation. In Q1 2022, the Payabl Group led a CHF 3 million seed funding round to support Klarpay’s growth. On February 14, 2023, the company confirmed that it had achieved profitability within its first operational year. According to the announcement, Klarpay closed 2022 with over 120 corporate clients and became profitable on a monthly basis by August 2022. However, no further details were disclosed. “We are thrilled to have reached this significant milestone,” stated Klarpay. “Our commitment to a sustainable…