SVG is a popular offshore destination with scammers. This is where they establish their offshore companies as operators of broker scams like QTECK or Online Trading. These legal entities are usually by Wilfred Services in Kingstown, St. Vincent & the Grenadines. At QTECK, Praxis Cashier is again integrated as a payment processor. The FCA issued investor warnings against these broker scams today.
On 10 Nov 2020, the UK FCA issued an investor warning against MarginElite. This is a typical white-label scam that is actually easy to recognize. At the latest when you see that Praxis Cashier is the payment processor and has integrated the Russian Mir for credit and debit card payments.
The FCA issued an investor warning on November 9, 2020, against BeforexCapital and Capital Holding Funds allegedly operated by Capital Holdings LLC, St. Vincent & the Grenadines. As payment processors, we have discovered Praxis Cashier with the Estonian crypto exchange MisterBit.
A few days ago, the Austrian Financial Market Authority FMA issued an investor warning against the broker scam StarkMarkets, which is operated by the entities Krisimark Ltd and SWISSGEM Ltd. This week, the Spanish regulator CNMV issued a warning against SWISSGEM and the broker scam MarketsCFD which it operates. In May 20120 the Italian CONSOB has already blocked MarketsCFD (www.marketscfd.net).
The UK regulator FCA issued a warning against the broker scam AccepTrade (www.acceptrade.com) on September 30, 2020. According to the information on the website, this scam is operated by an AccepTrade Ltd in Dominica. Once again Praxis Cashier from Amit Klatchko is used as a payment processor and Estonian Transcoin is integrated for crypto deposits.
UK FCA issued an investor warning against the broker scam MigoTrade (www.migotrade.com) this week. According to the website, the broker is operated by Smart iSolution LLC, which is allegedly registered in St. Vincent & the Grenadines. The scam is once again facilitated by the Cypriot Praxis Cashier of Amit Klatchko which our Team identified in some other warned of scams this week.
The Austrian Financial Market Authority FMA has issued an investor warning against the scam broker StarkMarkets (www.starkmarkets.com) which is allegedly operated by Krisimark Ltd and SWISSGEM Ltd in Sofia, Bulgaria. Already in June 2020, the Canadian British Colombia Securities Commission (BSC) issued an investor warning, and in July the New Zealand FMA (here). The scam facilitating payment processor is once again the Cypriot Praxis Cashier.
The UK regulator FCA issued an investor warning on 9 September 2020 against the scam broker Capital Way (aka Capital Way Group) operating with the domains www.capitalway.com and www.capitalway-group.com. According to the information on the website, the broker is operated by Eastridge Capital Ltd in the Marshall Islands and Usein Power Ltd allegedly registered in Bulgaria. Praxis Cashier from Amit Klatchko is the payment processor.
The UK FCA issued a warning against the scam broker TradingTeck (www.tradingteck.com) on 9 September 2020. The broker is a brand of SecVision Limited, allegedly registered in St. Vincent and the Grenadines. The payment processor of the scam is once again Praxis Cashier from Amit Klatchko. Via the Praxis Cashier, credit and debit card payments as well as payments via Klarna can be made.
The UK Watchdog Financial Conduct Authority (FCA) has issued an investor warning against the Praxis Cashier scam client Profits Trade (www.profitstrade.com). According to information on the scam’s website, it is operated by the company ProfitsTrade Ltd in Dominica. The Praxis Cashier is facilitating this broker scam, with Klarna and LeaderPay also being offered as payment options
