Home -
Brokers -
Main body -

WikiFX Express

Exness
XM
EC Markets
TMGM
FXTM
FOREX.com
AVATRADE
FXCM
IC Markets Global
DBG Markets

WIKIFX REPORT: CYSEC BLACKLISTS FXWET, CRYPTOBANXATRADE, AND SKYECRYPTOFX

CryptoBanxaTrade | 2022-06-07 14:50

Abstract:The Cypriot regulator has warned against entering into transactions today, particularly involving CFDs, cryptocurrency and forex trading, via online trading platforms operated by unlicensed providers.

CySEC-300x200.jpeg

The Cyprus Securities and Exchange Commission said before that some of these illegal brokers were just spinoffs of previously shuttered companies while others misleadingly claim affiliation with other brokers that are already regulated in Cyprus and hold its CIF License. The watchdog has blacklisted the following domains:

  • cryptobanxatrade.com

  • fxwet.com

  • skyecryptofx.com

  • capitalbasefx.com

One of the blacklisted brokers, CryptoBanxaTrade, claims to be based in New York and licensed in the UK for offering binary options, Forex and spreads. The shady website also falsely claims to be properly regulated by the US CFTC and the IFSC of Belize, as well as CySEC, which the Cypriot watchdog has just denied.

Meanwhile, Skyecryptofx touts itself as one of the largest stock exchange-listed FX & CFD brokers in the world. It further claims that it has offices in more than 10 countries including Belize, UK, Poland, Germany, Spain and France.

CySEC stresses that these firms are not licensed to operate a brokerage business in Cyprus, nor are they affiliated with a regulated entity. Additionally, it warns that if consumers lost their money on platforms that are not licensed, they are not protected under the Investor Compensation Fund (ICF). This serves to protect the claims of covered clients and provide them with compensation in case a member was unable to meet its financial obligations.

While many providers claim to be Cyprus-based, CySEC said, previously it believed such companies were based overseas and providing false addresses, adding that it would look into taking further action if companies were actually based within the country. It further explains that it is sometimes hard to find the names of the platforms operators on their websites, and that the addresses given as the company headquarters are often offshore letterbox addresses.

Under current laws, CySEC has no powers to force internet companies to refuse financial advertisements or block access to their domains. It can only ask them to take down fraudulent promotions once they have been spotted. As a result, fraudsters and promoters of high-risk schemes have been able to place advertisements claiming to be based or licensed in Cyprus.

BrokerDealerknowledgeForex trading

Related broker

No Regulation
CryptoBanxaTrade
Company name:CryptoBanxaTrade
Score
1.48
Website:https://cryptobanxatrade.com/
2-5 years | Suspicious Regulatory License | Suspicious biz area | High potential risk
Score
1.48

Read more

IG Singapore Expands Into Multi-Asset Trading Hub

IG Singapore plans a multi-asset platform expansion, adding cryptocurrencies and more investment products under new CEO Gavin Chia to attract a broader investor base.

Original 2025-10-22 17:33

Warning: Trader Unable to Withdraw Funds from IQ Option – Victim Reports Unhelpful Response

Recently, WikiFX received a complaint from a trader who is unable to withdraw his funds from a broker named IQ Option. According to the victim, despite repeated emails to the broker’s support team, the responses have been unhelpful and failed to resolve the issue.

Original 2025-10-22 16:42

eToro Adds 50 More Stocks to 24/5 Trading

eToro expands 24/5 trading with 50 new U.S. stocks and ADRs, boosting access to 150 assets for faster reactions to earnings, news, and price moves. Trade extended hours.

Original 2025-10-21 18:47

The Ultimate 2025 Guide to Courses for Forex Trading

Know the best courses for forex trading in 2025. Learn proven strategies, risk management, and trading psychology to trade forex profitably and confidently.

Original 2025-10-21 17:22

WikiFX Express

Exness
XM
EC Markets
TMGM
FXTM
FOREX.com
AVATRADE
FXCM
IC Markets Global
DBG Markets

WikiFX Broker

FXTM

FXTM

Regulated
Exness

Exness

Regulated
DBG Markets

DBG Markets

Regulated
XM

XM

Regulated
AVATRADE

AVATRADE

Regulated
IC Markets Global

IC Markets Global

Regulated
FXTM

FXTM

Regulated
Exness

Exness

Regulated
DBG Markets

DBG Markets

Regulated
XM

XM

Regulated
AVATRADE

AVATRADE

Regulated
IC Markets Global

IC Markets Global

Regulated

WikiFX Broker

FXTM

FXTM

Regulated
Exness

Exness

Regulated
DBG Markets

DBG Markets

Regulated
XM

XM

Regulated
AVATRADE

AVATRADE

Regulated
IC Markets Global

IC Markets Global

Regulated
FXTM

FXTM

Regulated
Exness

Exness

Regulated
DBG Markets

DBG Markets

Regulated
XM

XM

Regulated
AVATRADE

AVATRADE

Regulated
IC Markets Global

IC Markets Global

Regulated

Latest News

The Ultimate 2025 Guide to Courses for Forex Trading

WikiFX
2025-10-21 17:22

Scam Alert!! Family Loses RM750,000 in “Pyramid” Investment Scheme

WikiFX
2025-10-22 17:30

RM94 Million Forex Scam Exposed | Desperate Victims Beg Bank Negara to Act

WikiFX
2025-10-21 16:48

eToro Adds 50 More Stocks to 24/5 Trading

WikiFX
2025-10-21 18:47

US firm collapses ringing \alarm bells\, says Bank of England chief

WikiFX
2025-10-21 15:32

Pop Mart: Labubu maker sees sales soar after launch of mini version of toy

WikiFX
2025-10-22 03:22

India to cut Russian oil purchases, U.S. to slash tariffs as they near trade deal: Indian media report

WikiFX
2025-10-22 12:58

The "Triumph Of Big Government" Created The Current Sovereign Debt Crisis

WikiFX
2025-10-22 21:00

Tesla earnings slide despite record revenue

WikiFX
2025-10-22 23:55

In-Depth Findings: What is Behind of TenX Prime?

WikiFX
2025-10-21 15:29

Rate Calc

USD
CNY
Current Rate: 0

Amount

USD

Available

CNY
Calculate

You may also like

nexcres

nexcres

APPEX ASSET

APPEX ASSET

telMAX INVESTMENT

telMAX INVESTMENT

Blofin

Blofin

META SMART TRADE

META SMART TRADE

CelestiumTrade

CelestiumTrade

FINTRAVIA EXCHANGE

FINTRAVIA EXCHANGE

SMART OPTION FX

SMART OPTION FX

metrogain

metrogain

clyrafx

clyrafx