Archives: Flagged Brokers

LoonieFX claims to be regulated by the Financial Transactions and Reports Analysis Center of Canada (FINTRAC). While a registration record for this MSB number can be found in the database, it is important to note that FINTRAC does not regulate foreign exchange (forex) trading activities. In Canada, the primary regulatory body overseeing forex brokers is the Investment Industry Regulatory Organization of Canada (IIROC). However, upon investigation, it was found that LoonieFX is not registered or authorised by the IIROC or any other reputable financial regulatory agency. Therefore, based on the available information, LoonieFX is operating without proper authorisation from any credible forex regulator. Therefore, LoonieFX appears to be a scam.

EmirFX claims to be authorized by the Seychelles Financial Services Authority (FSA) and the Financial Services Commission(FSC) in Mauritius. However, our search of the official Seychelles FSA and Mauritius FSC licensee register found no record of it or the stated licence. This discrepancy strongly suggests that the firm’s regulatory claims are inaccurate or deliberately misleading. Besides, EmirFX does not provide any other licensing information. Until verifiable evidence of legitimate authorization is provided, we assess EmirFX as a likely unlicensed or fraudulent broker and advise extreme caution.

HiUFX claims to be authorized by the Australian Securities & Investments Commission(ASIC) and the Seychelles Financial Services Authority (FSA). However, our search of the official ASIC and Seychelles FSA licensee register found no record of it or the stated licence. This discrepancy strongly suggests that the firm’s regulatory claims are inaccurate or deliberately misleading. Besides, HiUFX does not provide any other licensing information. Until verifiable evidence of legitimate authorization is provided, we assess HiUFX as a likely unlicensed or fraudulent broker and advise extreme caution.

Globeinchain is a suspected fraudulent broker that fails to provide any regulatory information. It only discloses that it is based in the UK,but upon investigation, we found that it is not authorized by the UK’s Financial Conduct Authority (FCA). And in fact, the FCA has listed it on its warning list due to concerns over illegal financial activities. Therefore, Globeinchain appears to be a scam.

Crownex Capital Group claims to be registered in the UK and regulated by the Financial Conduct & Regulatory Agency (FCRA). However, the legitimate UK regulatory body is the Financial Conduct Authority (FCA), not the FCRA. Furthermore, a search on the FCA register yields no results for Crownex Capital Group. The regulatory information it provides is highly misleading and appears intentionally designed to mimic or confuse investors into believing it is regulated by the FCA. Crownex Capital Group is in fact unregulated and unlicensed in the UK. Therefore, Crownex Capital Group appears to be a scam.

BBS Markets does not claim to be licensed by any regulator; it only claims to be registered in Saint Lucia. While we can confirm that there is a company with the same name in the Saint Lucia International Financial Centre (IFC) registry, this registration only grants it International Business Company (IBC) status. This does not constitute a valid financial licence. The IFC neither regulates nor licences forex trading activities. Being unregulated is a major red flag for a fraudulent operation. Therefore, BBS Markets appears to be a scam.

PIPZE does not claim to be licensed by any regulator; it only claims to be registered in Saint Lucia. While we can confirm that there is a company with the same name in the Saint Lucia International Financial Centre (IFC) registry, this registration only grants it International Business Company (IBC) status. This does not constitute a valid financial licence. The IFC neither regulates nor licences forex trading activities. Being unregulated is a major red flag for a fraudulent operation. Therefore, PIPZE appears to be a scam.

TradingPoint claims to be authorized by the Cyprus Securities and Exchange Commission(CySEC). However, while a licence under the stated details does appear in the official CySEC register, the registered website domain associated with that licence does not match the website currently used by TradingPoint. This mismatch raises serious doubts about whether TradingPoint is genuinely operating under the claimed authorization. Moreover, TradingPoint does not provide any additional verifiable licensing information or clarification regarding this discrepancy. Until the firm can demonstrate that its current website and operations are explicitly covered by a valid licence, we assess TradingPoint as likely unlicensed or potentially fraudulent. Therefore, TradingPoint appears to be a scam.

CP Group’s website provides no regulatory disclosures and fails to list basic corporate information, such as its legal entity name, registered address, jurisdiction of incorporation, or contact details. This lack of transparency makes it impossible to verify whether the platform holds any valid license or operates under legitimate oversight. Platforms with these characteristics are often unregulated or fraudulent, posing significant risks to investor funds. Therefore, CP Group appears to be a scam.

Nexus AI Group’s website provides no regulatory disclosures and fails to list basic corporate information, such as its legal entity name, registered address, jurisdiction of incorporation, or contact details. This lack of transparency makes it impossible to verify whether the platform holds any valid license or operates under legitimate oversight. Platforms with these characteristics are often unregulated or fraudulent, posing significant risks to investor funds. Therefore, Nexus AI Group appears to be a scam.