Watch out for Swiss Prime, BudsFX, FXGlobe, Finantiko and more

This week, a series of warnings appeared against illegal Forex brokers (or the companies that claim to be such brokers). The infamous group includes brands such as Swiss Prime, BudsFX, FXGlobe and Finantiko. Below is a list of a total of 17 entities whose activities have been found to be illegal.

Notifications from traders

The network is full of dynamic "marketing" campaigns carried out by the following entities. Complaints from people (source: ForexRev.pl) that were "attacked" and induced to pseudo-investments concern 4 entities.

Finantiko (Tikmedia LLC)

• Web page: finantiko.com
• E-mail: cs@finantiko.email
• Phone: +441865679025
• Address: First Floor st. Vincent Bank Ltd Building, James Street, Kingstown, St. Vincent and the Grenadines

marginalite

• Web page: marginite.com
• E-mail: support@marginelite.com; backoffice@marginelite.com
• Phone: 02080684341; +74992164936

MarketPlus

• Web page: marketpluse.com
• E-mail: support@marketpluse.com
• Phone: 442038857261
• Address: Trust Company Complex, Ajeltake Road, Ajeltake Island, Majuro, Republic of the Marshall Islands, MH 96960

OctagonTrade

• Web page: octagontrade.com

Italian regulator blocks 5 pages

Italian financial market supervision - CONSOB - decided to block access to 5 domains, which in its opinion operate illegally, without the necessary licenses. At the moment, the number of pages blocked by CONSOB is already 323.

Blocked pages:

• FXGlobe (FS International LTD) - fxglobe.international
• Berkshire System (Giuseppe Eros Lana) - berkshiresystem.com
• Tradesrun (Evergo Ltd) - tradesrun.com; client.trading-dashboard.co
• Ascend Market (Pure M Global Limited) - ascend-market.com
• 4FXLUXUS Pvt Ltd (Global Pegasus LTD) - 4fxluxus.com

The official announcement

FCA warns against 5 brokers

British Financial Supervision - FCA - included on the list of public alerts 6 new entities related to Forex market. All brands operate without the required licenses and offer pseudo-investment services.

New blacklisted entities:

• BudsFX - budsfx.com - The official announcement
• Profit Markets (Profit Market Trading) - marketsprofit.com
• MarginElite / MarginElite - marginelite.com
• Evolution Trading - evolution-trading.ltd
• Beforex Capital (The Capital Holding Funds) - beforexcapital.com
• Atlasfx - atlasfx.co

Luxembourg warns against GCG International

Another regulator that warns against an illegal broker is CSSF from Luxembourg. The warning applies to GCG International, which provides its services in the European Union and does not have any licenses or permits. GCG even has an outfit in Polish.

• GCG International - gcginternational.net
• The official announcement

Swiss Prime on the Swiss list

The Swiss regulator - FINMA - warns against the Swiss Prime brand, which operates without any licenses, and additionally consciously uses a name that is confusingly similar to a legally operating entity to increase its credibility.

• Swiss Prime (Swiss Prime Limited) - swissprime.cc
• The official announcement

We warn against using the services of unlicensed companies. Before opening an account, always make sure that the broker has the appropriate regulations and permits from the indicated institution supervising the financial market.