VFSC requires offshore brokers to set up physical offices, effective from October 16!

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The Vanuatu Financial Services Commission (VFSC) is requiring offshore brokers to set up a physical office in the jurisdiction; those who do not meet this requirement will have their license revoked by the VFSC. The new rules will take effect on October 16. Additionally, offshore brokers are required to appoint a local manager and director….

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CFTC: Ztegrity fined $940,000

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The U.S. Commodity Futures Trading Commission (CFTC) announced that the U.S. District Court for the Southern District of Texas imposed permanent injunctions, currency sanctions on Troy Mason and his company Ztegrity, Inc. (formerly located in Houston, Texas) on October 7 , equitable relief.The order requires Troy Mason and Ztegrity to pay victims $643,570 in damages…

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Expose the fake DBGMarkets Forex broker platform!

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Recently, DBGMarkets Dunbo has suffered from it. The same logo, similar domain name, plagiarizing website content, stealing regulatory information, defrauding the account opening background of the platform, do not register. How to identify genuine brokers?All this is done in a decent manner. This kind of fraud is hard to guard against. How can our traders…

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Warning: Anto Global this broker currently has no valid regulation, please stay away!

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It has been verified that this broker currently has no valid regulation. Please be aware of the risk! The number of complaints received by FX110 has reached 6 for this broker in the past 3 months. Please be aware of the risk and the potential scam! Anto Global Investment Platform is a fraudulent company. The…

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FCA Wants To Fine Barclays £50 Million Over Secret Qatar Funding

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The case goes back to the 2008 financial crash when the UK lender sought funds in Qatar to bolster its capital, avoiding the fate of other banks that were bailed out by the taxpayer. After a court trial ended in 2019, the FCA resumed its probe of Barclays.The Financial Conduct Authority intends to fine Barclays…

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Xtrade Review：What is XTrade?

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What is XTrade? The broker XTrade firstly known as XFR Financial Ltd was established back in 2003, while recently headquarters in Cyprus and offering traditional trading through CFDs on shares, commodities, forex and indices. The company also continuously increases their ranges and add instant access to the most popular Cryptocurrencies that are available 24/7 directly through the trading…

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TriumphFX Review is a Ponzi Scheme. Please stay away!

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This broker bas been verified to be illegal and all of its licences have been expired, please be aware of the risk! The platform is a Ponzi Scheme, which refers to the use of “principle of value multiplication”. In the form of rolling or static fund circulation, it uses the money of next member to…

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ACCC issues warning fund recovery scams are rampant, investors need to be wary of paid help

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The Australian Competition and Consumer Commission (ACCC) said losses to investors as a result of money recovery scams were rampant. These scams target investors who have already suffered losses in the scam before, with the scammers promising to help victims recover their losses after paying a fee up front. Australian investors have already lost more…

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BaFin opens investigation into unauthorized firm Flip Access Plc

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Germany’s Federal Financial Supervisory Authority BaFin has announced an investigation into Flip Access Plc for unauthorised provision of banking and financial services in Germany. The official announcement pointed out that according to the German Banking Act (KWG), any company providing banking or financial services in Germany must be authorized by BaFin, while Flip Access Plc…

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FMA publishes information sheet outlining record-keeping obligations for financial advice providers

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Financial Markets Authority (FMA) – Te Mana Tātai Hokohoko has issued an information sheet for Financial Advice Providers (FAPs) on how FAPs can demonstrate compliance with record keeping obligations. Under the new financial advice regime, Standard Condition 1 of a transitional FAP licence and a full FAP licence states: “You must promptly create and maintain…

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