Austrian FMA warns against forex and crypto broker RaxTrade

The Austrian regulator FMA has issued an investor warning against the RaxTrade broker scam. According to information on the website, the scam is operated by ROI Stock Limited, registered by St. Vincent and the Grenadines, under the domain As a payment processor, BridgerPay is integrated and credit and debit card payments as well as deposits via crypto the ways to lose money to this scam.

On the crypto side, Quamtor (www is integrated which is operated by Crypto Merx OÜ registered in Estonia. The company has acquired one of the worthless Estonian crypto licenses and can therefore call itself “EU regulated”. Crypto Merx is managed by Kristo Nilov and Jorge Aitor Azpiazu Cigaran.

For credit and debit card payments, xpate ( is integrated with BridgerPay. xpate is the trading style of the UK registered xpate Ltd (which was founded in April 2019 (Companies House record) and is regulated as an e-Money Institute (EMI) under the referenc number 901021 by the FCA since March 2020. xpate is operated by the Latvian Mihails Safro and Aleksandrs Kaufhers from an office in London’s Canary Wharf.

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