BaFin Warns Against Pepperstone Clone

The German Federal Financial Supervisory Authority, BaFin on Tuesday (May 21) has issued warnings against the clone of Forex and CFD broker Pepperstone GmbH. The illegal clone entity operates under pepperstone.vip, and financial and investment services are being provided on this website without the required authorisation, according to information available to BaFin.

BaFin expressly points out that the licensed securities institution Pepperstone GmbH does not operate the website. This is a case of identity theft.

On the same day, the German watchdog reported that the unknown operators of the website bitboter.com are conducting banking business and providing financial or investment services without the required authorisation. There, consumers can allegedly trade crypto assets using an automated crypto trading bot.

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 required authorisation. Information on whether a particular company has been granted authorisation by BaFin can be found in BaFin's database of companies.