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Retail FX

News Nuggets | 4 October: SEC Halts Ponzi Scheme; FCA Updates Warning List

  • Also, ClearBank broadens its Board; ABN Amro sells a stake in EMS to Fiserv.
  • Read today's FX/CFDs, crypto and fintech sectors' dynamic news.
Wednesday, 04/10/2023 | 09:28 GMT by Finance Magnates Staff
Retail FX

Beware the Doppelganger: UK FCA Exposes Fake BUX Trading Platform

  • FCA has warned against Trader BUX Markets.
  • As it turns out, it is the second clone of BUX in the UK within the last 12 months.
Tuesday, 19/09/2023 | 08:21 GMT by Damian Chmiel
Retail FX

News Nuggets | 6 September: Zodia Expands into Abu Dhabi; Belgium FSA Issues New Warnings

  • Also, Strise secured $10.8 million in funding; Finalto Asia announced its new Head of Sales.
  • Read today's FX/CFDs, crypto and fintech sectors' dynamic news.
Wednesday, 06/09/2023 | 11:03 GMT by Finance Magnates Staff
Retail FX

News Nuggets | 7 August: FCA Warns against 20 Fraudulent Firms; Doo Group Hires Head of HR

  • Also, Fasset presents 'super-app'; Block axes its European venture and CS cuts jobs in HK.
  • Read today's FX/CFDs, crypto and fintech sectors' dynamic news.
Monday, 07/08/2023 | 11:41 GMT by Finance Magnates Staff
Retail FX

News Nuggets | 17 July: LSEG's FX Head of Sales Departs; CNMV Warns against Illegal Firms

  • Also, Webull expand to ASX equities; BaFin Extends AML measures on N26.
  • Read today's FX/CFDs, crypto and fintech sectors' dynamic news.
Monday, 17/07/2023 | 11:40 GMT by Finance Magnates Staff
Retail FX

Consob Blocks Access to Clone Sites of E*TRADE and ActivTrades

  • The number of clones has increased significantly in 2023.
  • Last week, CySEC and the FCA also warned against clone companies.
Thursday, 29/06/2023 | 09:08 GMT by Damian Chmiel
Retail FX

CySEC Warns against OANDA TMS Clone Website

  • The Cypriot regulator published a new list of warnings today.
  • Among nine illegal entities was an OANDA TMS clone.
Thursday, 22/06/2023 | 09:09 GMT by Damian Chmiel
Retail FX

FCA Warns against eToro Clone Misusing License Number

  • The warning was issued against ExpoToro and TraToro.
  • This has been another clone of a popular social trading platform in recent years.
Wednesday, 21/06/2023 | 12:05 GMT by Damian Chmiel
Retail FX

FSMA Warns against 38 Unlicensed Forex, CFDs and Crypto Platforms

  • The regulator highlighted the dangers of using fraudulent platforms' services.
  • Many of them are still operational.
Monday, 05/06/2023 | 08:10 GMT by Damian Chmiel
Retail FX

Nadex Clone and Three Other Sites Blocked by Consob

  • None of these platforms is authorized to operate in Italy or any other EU country.
  • Consob blocked almost 900 websites in the last three years.
Friday, 26/05/2023 | 08:25 GMT by Damian Chmiel
Retail FX

Consob Blocked 855 Illegal Trading Platforms in 3 Years, Ads 5 More

  • Italy's Consob has been effectively blocking illegal trading websites since 2019.
  • To date, the supervisor has been able to halt 855 of them.
Monday, 20/03/2023 | 12:50 GMT by Damian Chmiel
Retail FX

Rakuten Securities Hong Kong Warns Investors of Fraudulent Impersonators

  • Fraudulent actors are impersonating Rakuten Securities HK.
  • The number of clone companies increased in 2022 and the beginning of 2023.
Monday, 06/03/2023 | 11:53 GMT by Damian Chmiel
Retail FX

FSMA Warns against Webull Clone and 20 Other Unlicensed Platforms

  • According to Belgium's FSMA, listed platforms may extort money from investors.
  • A Clone of the WeBull trading brand is one of them.
Thursday, 23/02/2023 | 10:47 GMT by Damian Chmiel
Retail FX

CySEC Warns against Licensed Broker Clone

  • IMS Crypto uses the CIF license number of IMS Markets.
  • The latter is CySEC's authorized investment firm, the first is just a clone.
Thursday, 09/02/2023 | 13:41 GMT by Damian Chmiel
Retail FX

ESMA Sees High Market Risks and Warns of Further Declines

  • ESMA just presented its newest TRV Report for 2023.
  • The institution warns retailers of further possible market declines.
Thursday, 09/02/2023 | 12:32 GMT by Damian Chmiel
Retail FX

CySEC Warns against 5 Unregulated FX/CFDs Platforms

  • Four websites are still operating and offering trading services.
  • The regulator recently warned against other fraudsters and rogue platforms.
Wednesday, 25/01/2023 | 09:32 GMT by Damian Chmiel
Retail FX

FCA Adds 1,000 Employees in 2022 as Scrutiny Increases

  • Since the beginning of 2022, the FCA has warned of 1,800 potential financial frauds.
  • The regulator is stepping up its protection efforts as part of a 3-year strategy.
Wednesday, 21/12/2022 | 12:21 GMT by Damian Chmiel
Retail FX

FMA Warns against Crypto Fraudsters and Impersonators

  • Bay Exchange was providing crypto services without proper authorization.
  • Krypto Security was trying to impersonate the FMA's officials and extort consumer funds.
Monday, 12/12/2022 | 09:24 GMT by Damian Chmiel
Retail FX

FCA Warns Brokers against CFDs 'Poor Practices'

  • 80% of retail traders are losing money when investing in CFDs.
  • Some CFD providers are still using practices the FCA disagrees with.
Thursday, 01/12/2022 | 12:31 GMT by Damian Chmiel
Retail FX

FSMA Warns against Clone of CoinDesk and 30 Fraudulent Trading Platforms

  • A clone of CoinDesk was among 30 other fraudulent trading platforms flagged by the FSMA.
  • According to the Belgian market watchdog, financial scams are rising significantly.
Wednesday, 23/11/2022 | 12:30 GMT by Damian Chmiel
Retail FX

FCA Warns Trading App Operators to Stop the Trading Gamification

  • The UK’s market watchdog wants trading app creators to review the main design features.
  • According to a recent study, gamification may lead to gambling-like behavior.
Monday, 21/11/2022 | 09:48 GMT by Damian Chmiel
Retail FX

ASIC Warns Against Fake IPO Investment Frauds

  • The regulator uses case studies of Porshe's IPO and Care A2's Pre-IPO.
  • ASIC reminds that investing at the Pre-IPO stage involves higher risks.
Wednesday, 09/11/2022 | 11:41 GMT by Damian Chmiel
Retail FX

CySEC Expands Warning List, Adds Five Unlicensed Trading Platforms

  • Some of them pretended to be licensed entities.
  • One broker turned out to be a clone of an authorized trading company.
Thursday, 03/11/2022 | 15:56 GMT by Damian Chmiel
Retail FX

FMA Warns against Fraudster Impersonating the Regulator

  • Scammer tries tricking consumers and investors into pretending to be a regulatory clerk.
  • The FMA warned of impostors four times in October 2022.
Tuesday, 25/10/2022 | 08:58 GMT by Damian Chmiel
CryptoCurrency

ASIC Warns against Cryptcurrency Scam Appasiccoin.org

  • The watchdog states it never gives permission to use its logo to promote financial services.
  • Due to the cryptocurrency scams, investors lost $1 billion in 15 months.
Tuesday, 18/10/2022 | 11:30 GMT by Damian Chmiel
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