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Warnings (5.07): GlobalTrade, WestMark, NiroTrade…

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ForexRev warn against 3 dishonest brokers

Beware of the broker. The platform contains information to confirm that you have a license to provide investment services. Fraudsters refer to licenses issued by CySec, FSC Mauritius, and IFSC. All indicated license numbers are false and do not appear in the registers of the mentioned regulators. Persons aggrieved by this entity inform that it does not pay out money after submitting a payment application.

Another platform we advise against is, this is a site that offers Forex / CFD and Crypto trading. However, the broker does not indicate the license number that would authorize him to offer investment products, nor does he provide data about the company that could allow the investor to verify the platform. In addition, on the Internet you can find many comments confirming the broker’s unfair practices and the promises of guaranteed profit and attractive bonuses characteristic of this type of scams.

The platform is affiliated with, against which the UK FCA had previously issued a warning. If you want to register on the platform, you will be redirected to the website.

We also warn you about, it is most likely a continuation of the scam that the FSMA regulator warned about earlier. A dishonest broker does not disclose information about the company that supervises the functioning of the platform and takes over the money paid by investors. Thus, it is not possible to verify the entity in terms of having a license entitling it to provide financial services. victims report that the broker first contacted them to persuade them to make a basic deposit, but the source of the contact details that telephone consultants used to contact the client is unknown.

“I believed in their promises to quickly multiply my money, which I will transfer to them from the Binance platform” – the victim reports.

Fraudsters usually rely on promises to multiply the deposit and propose extremely attractive bonuses, which are to be available to the investor immediately after making the first deposit. We remind you that bonuses and other incentives aimed at persuading the customer to make a deposit to platforms offering financial services are prohibited in the European Union.

As promised by people claiming to be “broker’s investment advisers”, the investor’s payment was multiplied, which was to be indicated by the numbers displayed on the trading platform. The results, however, are manipulated manually by the platform employees so that the client remains convinced until the end that the algorithms do their job and that the “investment advisers” work to their advantage. Problems begin to arise after submitting a withdrawal request.

“They demand an insurance payment (which was not mentioned before) in the amount of 18% of the total amount I have on their account […] they promise immediate payment of the entire amount”

Fraudsters in most cases break contact with the client or inform about the necessity to incur additional costs before the profit payment is made. They do it in many different ways: they send a letter signed with the seals of the Tax Offices, Financial Supervisors or Banks, they demand payment of a commission, insurance, or fake taxes.

A licensed broker operating in accordance with the applicable legal status does not charge fees related to the withdrawal of funds, and all tax settlements are the responsibility of the investor.

See the article: Watch out for: “to recover funds, transfer us 10%”

ForexRev warns against:







knf ostrzeżenia

Alps Markets and NiroTrade in KNF’s warning list

The Polish National Commission of Financial Supervision (KNF) has updated the list of warnings, which included two dishonest brokers: Alps Markets and Niro Trade.

KNF warns against:

Alps Markets


Check out our warning against Alps Markets.

If you have met with this broker, go to the Alps Markets profile and share your opinion about it.

KNF’s warning list

Niro Trade


Check out our warning against Niro Trade.

KNF’s warning list


7 brokers blacklisted by CNMV

The Spanish Stock Exchange Commission (CNMV) placed on the list of warnings 7 entities offering investment services without the required authorization.

Among the entities mentioned by CNMV there was again Widdershins Group Limited, which has appeared on the warning lists of European regulators many times. The company is responsible for many scams, e.g. CFBroker, AdamantFx, Finlay Capital, 24 FinTime and SupraTrade. This time, the fraudsters will use OCTO FINANCES SA registered in Spain.

CNMV warns against:



Check out our warning against QUBITLIFE.

Flying Hummingbird / Flyingpro / FHBinvest

COMPANY: Flying Hummingbird Co.,Ltd.


COMPANY: Team North Partners Limited; Colespite Partners Limited, Inter Media Limited

Check out the previous warning for this platform issued by CONSOB.




COMPANY: Lithe Group Limited


COMPANY: Widdershins Group Limited

Check the previous warning about this company issued by CNMV.



CNMV’s warning list

consob (włoski nadzorca rynku usług finansowych)) ostrzeżenie przeciwko nieautoryzowanym podmiotom

3 brokers websites blocked in Italy

The Italian Financial Market Commission (CONSOB) placed 3 entities on its list of warnings. Since July 2019, CONSOB has blocked a total of 482 websites of dishonest brokers offering investment services in Italy.

CONSOB warns against:


COMPANY: Vibeinv Invest Limited

FXGbp Markets

COMPANY: International Markets Management Limited

Check the previous warning about this company issued by FCA.



CONSOB’s press release


FINMA warns against

The Swiss regulator (FINMA) issued a warning against the platform. On the broker’s website, it is in vain to look for information regarding the license to offer investment products and the name of the company to which investors’ funds go.

FINMA warns against:

Nova Invest


FINMA’s warning

Author: Izabela Kamionka

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  1. George Taylor

    platinex i not a broker, but simply a scam platform

    Posted on 15 July 2021

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