Belgium's FSMA Flags 21 New Fraudulent Trading Platforms

The Belgium's Financial Services and Markets Authority​ (FSMA) issued yesterday a warning against 21 new fraudulent trading platforms that have appeared on the internet in recent weeks.

These trading platforms are as follows:

1. Asia Coinin (www.asia-coinin.com)

2. Binotrader (binotrader.com)

3. Buxberg (buxberg.com)

4. Cedar Financial (cedarfinancial.ltd)

5. Central Margins (centralmargins.com)

6. Coinclick (coinclickex.com)

7. Coins Crossing (coinciros.com)

8. Coins Trades (coinstrades.com)

9. GLE Markets (glemarkets.com)

10. Globale-Invest (www.globale-invest.com)

11. Grow Deposits (trade.growdeposits.net)

12. Itoro-Capital / ItoroStocks (itoro-capital.com; itoro-capital.co; itoro-capital.net)

13. Mega Markets (megamarkets.com)

14. RXK Capital (rxkcapital.com; www.rxkcapital.org)

15. STB Markets (stbmarkets.com)

16. Stocks Views (stocks-views.com)

17. Thinvest (thinvest.com)

18. Ulian Pro (ulianpro.site)

19. Webull Investing (webullinvesting.com)

20. Wilton Option (wiltonoption.com)

21. Xpoken (xpoken.com)

The financial watchdog notes that the aforementioned platforms try to arouse consumers' curiosity by placing scam ads on social media or online video platforms. In these fake ads, a (well-known) person often explains how to get rich quick. Moreover, several fraudulent trading platforms offer consumers a so-called 'affiliate programme, which exhibits signs of a pyramid scheme.

The FSMA strongly advises investors to exercise caution to carry out investment activities, by checking company identity and verifying if the company in question has the requisite authorization before making any payment, to avoid fraud.