WikiFX Alert: 6 Unlicensed Brokers Warned by CySEC in August 2022!!!

WikiFX | 2022-08-30 10:52

Abstract：In August 2022, the Cyprus Securities and Exchange Commission (CySEC) issued an updated warning about unregulated entities!

According to the CySEC announcement, there are 6 websites that do not belong to an entity which has been granted an authorization for the provision of investment services and the performance of investment activities. The regulator urges investors to consult its website (www.cysec.gov.cy) before conducting business with investment firms in order to ascertain the entities licensed to provide investment services and activities.

Here arethe unregulated entity websites updated by CySEC in August 2022:

• octatradings-llc.com

• icmarkets.one

• ftxindex.com

• 360cointrade.com

• forexiqoptions.co.uk

• bitcointradepro.com

Currently, only bitcointradepro.com and icmarkets.one of the above URLs are still functional.

The website “bitcointradepro.com” is operated by Bitcoin Trade Pro, a member Company of the Bitcoin Trade Pro Group. Bitcoin Trade Pro is the brand name used by:

Bitcoin Trade Pro LIMITED, regulated by CySEC, with licence no. 11034799.

Bitcoin Trade Pro INTL Limited, regulated by VFSC, with registration no. 14595.

Bitcoin Trade Pro (Pty) Ltd, regulated by FSCA, with licence no. 46675.

Let's search “Bitcoin Trade Pro” on WikiFX APP to take a look at the details page. Based on information given on WikiFX (https://www.wikifx.com/en/dealer/1616759004.html), Bitcoin Trade Pro currently has no valid regulatory license and the score is rather negative - only 0.99/10. WikiFX gives brokers a score from 0 to 10. The higher the score is, the more reliable the broker is.

Whats more, the company listed on the Bitcoin Trade Pro website also cannot be found in the VFSC Register. The registration number shown belongs to a different company, Primus Markets Intl Limited.

In addition, when we searched in the FSCA database, wediscovered a company with the license number 46675 – but it was not Bitcoin Trade Pro. Moreover, the license issued for that company has expired.

And let's visit https://www.icmarkets.one/ to have a look. It is blatantly selling domain names on the official website!

Searching “icmarkets” via WikiFX, more than 30 related traders can been found, and they look quite similar and thus confusing. But with the exception of the old established IC Markets, which is regulated, most of the rest are suspicious clones.

WikiFX reminds you that forex scam is everywhere, you'd better check the broker's information and user reviews on WikiFX before investing. You can also expose forex scams on WikiFX. WikiFX will do everything in its power to help you and expose scams, warn others not to be scammed.

WikiFX keeps track of developments, providing instant updates on individual traders and helping investors avoid unscrupulous brokers. If you want to know whether a broker is safe or not, be sure to open WikiFXs official website (https://www.WikiFX.com/en) or download the WikiFX APP through this link (https://www.wikifx.com/en/download.html) to evaluate the safety and reliability of this broker!

Forex trading Forex Broker forex market

Related broker

Not Regulated

Bitcoin Trade Pro

Company name：Bitcoin Trade Pro

Score

1.55

Website：https://bitcointradepro.com/home.html

2-5 years | Questionable Regulatory License | Suspicious Operational Region | High Potential Risk

Score

1.55

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