One day before X-Mas 2021, German regulator BaFin has announced an investigation against crypto trading platform Crypto Brokers (www.crypto-brokers.de), which operates without a license. The broker is operated by CBrokers Technology Limited, registered in the UK since October 2021. The Austrian Stefan Kern, born in May 1975, runs and controls this UK entity. Without authorization, Crypto Brokers offers crypto trading services to clients like Kraken or Coinbase.
We were not able to make any deposits in our review. The Crypto Brokers white-label platform did not work in this regard. Stefan Kern a/k/a Stefan Ker has the company founded with a share capital of €1 (Companies House). This absence of sufficient financial funds does correspond with the needs of a capital-intensive business such as crypto brokerage.
In any case, the activities of Crypto Brokers are not authorized, and moreover, they also smell like a scam. Stay far away!
