All scams in one? These Seychelles FSA-Warned FX Brokers are Highly Similar

At first, we thought the broker was just another scam that investors often see on the forex market. However, as our investigation advanced, we found another four unregulated brokers are highly similar to Live Capitol.

Here are the names and websites of the five brokers:

1. Live Capitol

Website: https://www.livecapitol.net/

2. Profited Crypto

Website: https://www.profitedcrypto.online/

3. Flipuniquemarket

Website: https://www.flipuniquemarket.live/

4. Sharesforextrade

Website: https://sharesforextrade.com/

5. TradingMasterClass77

Website: https://tradingmasterclass77.com/en.html

Similarities

First of all, though logos and trade names are different, the website designs of the scammers are very similar. And the awards they have claimed to won are almost the same.

Even their company names are all in the format - 'Trade Name' +LTD. What's more, the regulatory information they claim is also the same! The fraudsters all claim to be the brand names of TopFX Ltd, a company regulated by the Cyprus Securities and Exchange Commission (CySEC) with regulatory number 138/11.

According to CySEC, TopFX Ltd is indeed regulated by CySEC. However, the scammers have nothing to do with regulated companies. And the strongest evidence is that the CySEC-approved website is www.topfx.com, not any of the five above.

We always see scammers claiming to be the brand name of a legitimate company, while no information can approve the scammers having a connection with the company.

Seychelles FSA Warnings

Moreover, the frauds also claim to be licensed by Seychelles FSA with the number SD037. However, the Seychelles FSA does not authorize their forex activities but issued warnings to them.

And one of the fraudsters - Sharesforextrade - is also warned by CySEC.

Besides, two websites in Seychelles FSA are inaccessible now. Therefore, we suspect the illegal company may have other scam sites or going to create some other new sites. It is recommended that investors stay alert and not fall into this trap.