Identical Unregulated Forex Brokers Warned By Seychelles FSA

The Seychelles Financial Services Authority (Seychelles FSA) has issued a warning about an unlicensed broker called Live Capitol. At first, we assumed the broker was another of the many scams that investors encounter on the Forex market. However, as our inquiry progressed, we discovered four other unlicensed brokers that are very identical to Live Capitol.

The names and websites of the five brokers are as follows:

1. Live Capitol

Website: https://www.livecapitol.net/

2. Profited from Crypto

Website: https://www.profitedcrypto.online/

3. Flipuniquemarket

Website: https://www.flipuniquemarket.live/

4. Sharesforextrade

Website: https://sharesforextrade.com/

5. TradingMasterClass77

Website: https://tradingmasterclass77.com/en.html

Similarities

To begin with, although the fraudsters' logos and trade names vary, their website designs are quite identical. And the prizes they claim to have won are almost identical.

Even the names of their businesses are in the type “Trade Name” + LTD. Furthermore, the regulatory information they say is identical! All of the con artists claim to be TopFX Ltd., a firm licensed by the Cyprus Securities and Exchange Commission (CySEC) with regulation number 138/11.

TopFX Ltd. is regulated by CySEC, according to CySEC. Scammers, on the other hand, have nothing to do with regulated businesses. The most compelling proof is that the CySEC-approved website is www.topfx.com, not any of the five mentioned above.

We often encounter fraudsters claiming to represent the brand name of a real business, although no information can confirm the scammers' affiliation with the organization.

Warnings from the Seychelles FSA

Furthermore, the fraudsters claim to be licensed by the Seychelles FSA with the license number SD037. The Seychelles FSA, on the other hand, does not approve their forex activity and instead issues warnings.

Furthermore, two websites in the Seychelles FSA are now unavailable. As a result, we assume the unlawful firm has additional scam sites or is planning to launch new ones. It is advised that investors be vigilant and avoid falling into this trap.

About WikiFX

WikiFX is a platform for searching worldwide corporate financial information. Its primary duty is to provide the included foreign exchange trading organizations with basic information searching, regulatory license seeking, the credit assessment, platform identification, and other services.

Wikifx has created a big data solution that unifies data gathering, data screening, data aggregation, data modeling, and data productization using public data from government agencies, sophisticated sniffer systems, and scientific computer algorithms. WikiFX may then assess the supervision and risk levels of the associated organizations across several dimensions and give matching security solutions to individual users, corporate users, and government agencies.

Keep an eye out for scam updates.

WikiFX App may be downloaded through the App Store or the Google Play Store.