KNF puts 5 Forex / Crypto scammers on the warning list

On January 3, 2023 Polish Financial Supervision Authority added 5 new entities to the list of public warnings. These are: Palo Market, Markets Expert, Donnybrook Consulting Ltd, Safe Investment Group LLC and SME Limited. All five illegally provide brokerage services in the CFD instruments market. Details below.

Beware of Forex and Crypto Scams!

Each of the listed entities was put on the list of warnings for the same reason - lack of required licenses and permits to conduct brokerage activities in Poland (and the European Union). This also means that with high probability we can talk about typical scams, the sole purpose of which is to extort funds from unwitting investors. Most websites have already been blocked, however, practice shows that scammers use many websites and regularly "return to the market" with new brands to lure unsuspecting investors. It is worth remembering the following names - often scammers, when creating new brands, do not make an excessive effort and only slightly modify the names, addresses of websites or their appearance.

The companies use the following websites:

• Stick Market – an investment platform operating at palomarket.com
• Market Expert – operating at www.marketsxpert.com
• Donnybrook Consulting Ltd. – operating at the following addresses: www.onyxprofit.pro, www.onyxprofit.com, www.onyxprofit.cc, www.neotrade.pro, www.absystem.trade, www.absystem.cc, www.absystem.world, www. absystem.pro, www.optimarket.co, www.optimarket.trade, www.ofxb.io and www.eurofx.trade
• Safe Investment Group LLC – operating at the following addresses: www.rcebanque.com, www.rcebanque.tech, www.capital-group.ltd and www.capital-group.tech
• MSP Limited trading platform – operating at www.msp-lmtd.net

Be vigilant - scammers often return with only slightly modified names or websites.

We warn against using the services of unlicensed companies. Before opening an account, always make sure it is correct the broker has the appropriate regulations and permits at the indicated financial market supervisory institution.