German BaFin Flags Five New Unauthorized Investment Websites

Fazzaco learned that the Federal Financial Supervisory Authority (BaFin) has recently issued warnings against five new investment websites whose operators are providing financial and investment services without the required authorisation. 

The detailed information of these websites are as follows:

• hotapitalstox.com. The website is operated by Hot Capital Stox from London. The operator asserts to be regulated by a "European SEcurity Exchange Brokerage" but such an authority doesn’t exist.

• schubkapitals.ltd. The website is operated by the company SchubKapitals, which is not supervised by BaFin.

• globgraph.com. The operator of the website refers to itself using the name "Swiss Investment Funds" and provides no information about its legal form. The website contains no legal notice or information on the operator's business address.

• paybackltd-lawyer.com. The website is identical to the website paybackltd.com, for which BaFin already issued a warning on 24 November 2023.

• xpinvestment.com. The unknown operator of the website cannot be clearly identified. The operator just refers to itself using the name "XPinvestment" without proving any information about its legal form. There is no legal notice on the website. Two business addresses are listed in London and Holyhead, both in the United Kingdom.

BaFin​ has opened investigation into Hot Capital Stox, and Hot Capital Stox.

Anyone conducting banking business or providing financial or investment services in Germany may do so only with authorisation from BaFin. However, some companies offer these services without the necessary authorisation. Information on whether particular companies have been authorised by BaFin can be found in BaFin's database of companies.