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…
Author: Tom
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…
Our initial review of the TopFX broker scheme was published in October 2022. At that time, CySEC-regulated TopFX Ltd operated both TopFX.com and Fondex.com. However, since then, Fondex has transitioned to an exclusively offshore model. Similar to TopFX’s offshore shift, Fondex is now operated by TopFX Global Limited, a Seychelles-based entity registered as a securities dealer with the FSA Seychelles. These offshore platforms continue to accept EEA clients and offer high-leverage trading of up to 1:500. Here’s our latest update. Latest Developments In our October 2022 review, the Fondex website identified Fondex as a trading name under CySEC-regulated TopFX Ltd.…
In Munich, former Wirecard CEO Markus Braun is fighting to clear his name in court. On Thursday, he presented a PowerPoint analysis attempting to demonstrate that Wirecard’s controversial third-party acquiring business in Asia was real. However, prosecutors’ key witness, Oliver Bellenhaus, dismissed this claim, insisting that no such business ever existed. The presiding judge remained unconvinced, as Braun failed to provide definitive answers to crucial questions. Here’s the latest update from Scam-Or Project. Wirecard’s Financial Trail: Braun vs. Bellenhaus Braun outlined a detailed financial report, claiming that Bellenhaus—who is also a co-defendant and state witness—embezzled large sums of company funds.…
Our ongoing investigation into high-risk payment processors has led us to uncover several new domains facilitating transactions for high-risk merchants. These payment processors are crucial to the cyber economy, particularly in sectors such as gambling, adult content, and online trading. Our latest findings suggest a potential connection to Payabl (formerly PowerCash21), and we are seeking more information on this matter. Newly Discovered Domains We have identified three new domains that appear to be used for processing payments in high-risk industries. All three domains operate on the same IP address and have been active since February 2023: Possible Links to Payabl…
The Trading Point Group, encompassing the CySEC-regulated broker XM and its offshore counterparts XMTrading and XMGlobal, has been assigned an Orange Compliance rating due to concerns regarding its offshore operations and regulatory adherence. Company Overview AspectDetailsTrading NamesXM, XMTrading, XMFX, XMBroker, Trading PointDomains- www.xm.com – www.xmtrading.com – www.xmbroker-fx.com – www.xmglobal.com – www.xmfx.market – www.xmfxglobal.org – www.trading.com – www.trading-point.comLegal Entities- Tradexfin Limited (Seychelles) – FinTrade Limited (Mauritius) – Trading Point Holdings Ltd (Cyprus) – Trading Point of Financial Instruments UK Limited (UK) – Trading Point of Financial Instruments Pty Ltd (Australia) – TPS Management Limited (Cyprus) – Trading Point Asset Management Ltd…
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 AspectDetailsTrading NamesRoboForex, RoboMarketsBusiness ActivityForex and CFD brokerage servicesDomains- roboforex.com – roboforex.org – roboforex.ua – robomarkets.comLegal Entities- RoboForex Ltd (Belize) – RoboMarkets Ltd (Cyprus) – Guru Gateway Ltd (formerly GuruHosting Ltd, Cyprus)…