In May 2021, German BaFin issued a Cease and Desist Order against EZ2GO Ltd, registered in the Commonwealth of Dominica (report here). It operated the broker scam CapitalFX. On 26 Sept 2022, BaFin announced investigations against the broker scams Europemarket.io and Economix.io. Other regulators followed with warnings. This week, the Spanish CNMV issued a warning against EZ2GO and EuropeMarket.
Key Data
| Trading names | EuropeMarket, Economix, BT Save, CapitalFX |
| Domains | https://europemarket.io https://economix.io and others |
| Legal entities | Archax Ltd, Aegion Group Ltd, EZ2GO LTD |
| Jurisdictions | Commonwealth of Dominica |
| Warnings | MAS, FMA, Consob, BaFin, CNMV |
Short Warning Narrative
We are sure that we have identified only a fraction of the scam brands. These scam networks are huge, and through their boiler rooms, dozens of brands are operated and constantly change. The EZ2GO scam network has been active for several years with various scams. Regulators have warned against some of their brands:
- In December 2019, the MAS in Singapore issued an investor alert against BT Save (www.btsave.io and www.btsave.net) which EZ2Go also operated.
- The Austrian FMA issued a warning against Aegion Group Ltd and CapitalFX in August 2020,
- The Dutch MFSA issued a warning against CapitalFX
- in March 2021, the Italian Consob ordered the blackout of CapitalFX‘s website in April 2021.
- In September 2022, the BaFin announced investigations
In their new 26 Sept 2022 announcement, BaFin says that the fake Archax LTD uses forged forms from the German Central Tax Office for fraud purposes. In addition, employees of boiler rooms send their victims their “licenses” issued by the European Finance Association (EFA). We know this bullshit approach too. The EFA does not issue such documents.
Share Information
If you have any information about the EZ2GO scam network, its operators, and its activities, please share it with us through our whistleblower system, Whistle42.
