Belgium's FSMA Has Added 27 Fraudulent Online Trading Platforms To Its Blacklist

The following new trading platforms are all fraudulent Internet trading platforms, according to the watchdog:

• Capital One Markets (capitalonemarkets.com)

• Cedar Signals (cedarsignals.live)

• DGTL-Trade (dgtl-trade.com)

• Gigachains (www.gigachains.com)

• Green Capitalz (greencapitalz.com)

• Greenlinepro (greenlinepro.com)

• Icorp Securities (icorpsecurities.com)

• JH Group (hk-atf.com)

• Profi Trade 24/7 (profitrade247.com)

• Smart Trade Group (smart-trade-group.com and smart-trade-group.net)

• TradeBaionics (www.tradebaionics.com and www.tradebaionics.net)

• Bullden (bullden.io)

• Capitals Trade Fx (capitalstradefx.com)

• Crypto1Capital (platform.crypto1capital-trade.com and crypto1capital.com)

• Cryptoneyx (www.cryptoneyx.com and www.cryptoneyx.io)

• Gstock (gstocklegal.com)

• Hubblebit (hubblebit.com and hubblebit.vip)

• InetMarkets (inetmarkets.com)

• MarketsBank (marketsbank.com)

• NABCrypto.io (nabcrypto.io)

• Onotex (onotextrade.com)

• Plus12 (plus12.io)

• Priority Markets (priority-markets.com)

• Quantum AI (quantum-ai-trading.com)

• Swisschains (www.swisschains.com)

• Uniglobal Invest (uniglobal-invest.com)

• UXTrades (uxtrades.com)

The FSMA makes the following suggestions to investors in order to prevent fraud:

• Always confirm the corporation's identification (company name, home nation, registered office, etc.). It should not be trusted if the firm cannot be recognized.

• Always confirm that the business in question is authorized. Always be wary of “cloned firms”: businesses that pose as distinct, legal entities while having no affiliation with them. A detailed examination of the email addresses or contact information of the organizations in issue may help detect and prevent this sort of fraud.

• Since many of the list's fraudsters have been revealed. It is thought that looking up information about brokers on WikiFX before you start trading will assist you in avoiding being cheated.

About FSMA

The FSMA oversees the implementation of the distribution restriction. It examines if approved CFD suppliers are permitted to provide such products. Unauthorized providers are included among the warnings.

About WikiFX

WikiFX is a search engine for worldwide corporate financial information. Its primary duty is to search for basic information, regulatory licenses, the credit assessment, platform identification, and other services for the participating foreign currency trading firms.

There are about 39,000 brokers listed on the marketplace, both licensed and unregistered. WikiFX's staff has been working hard with 30 financial regulators from across the world to guarantee that the information supplied is accurate and up-to-date.

Stay tuned for more regulatory news.

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