Archives: Flagged Brokers

Pendoxa claims to be operated by CoinShares International Limited and belongs to the CoinShares Group. It claims to be regulated by the Jersey Financial Services Commission (JFSC), the Autorité des marchés financiers (AMF), and CoinShares Capital Markets (UK) Limited, an appointed representative of Strata Global Ltd., which is authorized and regulated by the Financial Conduct Authority (FCA). First, although CoinShares (Jersey) Limited is listed in the JFSC registry, it only holds a basic registration. It does not possess a valid license to conduct forex trading. Second, we could not find any record of this company being authorized or registered by the French financial regulator, AMF. Third, while the FCA has records of the mentioned UK subsidiary, its registered website does not match Pendoxa’s domain. Furthermore, its regulatory authorization strictly excludes retail derivatives trading. Even if they were affiliated, serving retail clients would be outside their legal scope. Given all these suspicious findings, we consider Pendoxa as a potential fraudulent platform.

Valero Markets’ 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, Valero Markets appears to be a scam.

Global Trend 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, Global Trend Markets appears to be a scam.

VirPoint does not claim to be licensed by any regulator; it only claims to be registered in Marshall Islands. While we can confirm that there is a company with the same name in Marshall Islands Registry (IRI), this registration only grants it International Business Company (IBC) status. This does not constitute a valid financial licence. The Marshall IRI is not a government agency, nor a regulator, and does not regulate foreign exchange. Being unregulated is a major red flag for a fraudulent operation. Therefore, VirPoint appears to be a scam.

Xirom Investments’ website provides no regulatory disclosures, only claims that it was registered in Luxemburg. We searched the official register of the Commission de Surveillance du Secteur Financier (CSSF) using all available details, but found no record of Xirom Investments or any associated company. This absence of basic corporate and regulatory information strongly suggests that Xirom Investments operates without authorization. Therefore, Xirom Investments appears to be a scam.

AlphaAITrade’s website provides no regulatory disclosures, only claims that it was registered in the United Kingdom. We searched the official register of FCA using all available details, but found no record of AlphaAITrade or any associated company. Besides, the ASIC issued a warning against AlphaAITrade, believing this company might be providing financial services or products without proper authorization in Australia. This absence of regulatory information and ragulatory warning against it strongly suggest that AlphaAITrade operates without authorization. Therefore, AlphaAITrade appears to be a scam.

Capital BLTD 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, Capital BLTD appears to be a scam.

Equities’ 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, Equities appears to be a scam.

FDC Trade Asia’s website provides no regulatory disclosures, only claims that it was registered in Cyprus. We searched the official register of the Cyprus Securities and Exchange Commission(CySEC) using all available details, but found no record of FDC Trade Asia or any associated company. This absence of basic corporate and regulatory information strongly suggests that FDC Trade Asia operates without authorization. Therefore, FDC Trade Asia appears to be a scam.

First, Niivesh Capitals claims to be regulated by the Anjouan Offshore Finance Authority (AOFA). While a matching entry exists in the AOFA system, the absence of an official website makes it difficult to verify. Moreover, the AOFA offers minimal regulatory oversight, and its licenses lack significant international recognition. Second, regarding its claim of being registered in Saint Lucia, please note that this only represents a standard International Business Company (IBC) incorporation. This is merely a company registration and does not constitute a valid license to operate as a forex broker. Third, the platform claims an association with TENX Capital, which is registered with the Mauritius FSC. However, our search found no record of Niivesh Capitals in the FSC system, nor was there any evidence proving a legitimate link between the two entities. In summary, although Niivesh Capitals presents multiple regulatory claims, the information is largely unverifiable and unreliable. Given these serious discrepancies, the platform appears to be a scam.