FinTelegram has received information from whistleblowers strongly indicating that CityCapital, MgBroker, and Armax are part of another broker scam scheme associated and/or related with either Blue Trading and/or the Zoo Broker Scam Network. Our research team is still working on the details, a detailed report will be published shortly. Investors should stay away from those schemes.
The documents provided by whistleblowers show that the Bitcoin (BTC) address provided to clients by CityCapital (www.citycapital.trade) is directly linked to the Blue Trading scheme and the Zoo Broker Scam Network. Therefore, utmost caution is required.
Like many other broker schemes CityCapital customers are obviously requested to make bank wired to a company evidently not associated with financial services:
- ASLAN ELECTRONIC FZE
- Emirates NBD Bank, BENIYAS STREET, DEIRA, DUBAI, UNITED ARAB EMIRATES
- IBAN: AE670260000515369240503
The operators provided on the
- Marshall Islands-registered ⴸеllаmo Нοldіngs Соrр and the
- Cyprus-based Internаtionаl Mаrket Servicеs LTD.
ArmaxTrade is also included in the warning list of the Bank of Lithuania.
The FinTelegram Research Team works on the scheme and the entities provided about. Investors are advised to stay
Report Broker Scams
Illegally operating broker schemes and their boiler rooms are part of fast-growing global cybercrime activities. Millions of investors are defrauded by those broker sites losing billions of euros every year. Hence, it is important to warn investors of such illicit sites. If you are a victim of an illegally operating broker site such as Tradeinvest90, Option888,
