This week, the Spanish financial market supervisory authority CNMV issued an investor warning against the unauthorized and thus illegally operating Forex broker DBFX Limited (www.dbfxtrades.com). According to information on the website, the company is registered in Vanuatu and is a subsidiary of the CySEC-registered investment company Belight Capital Group Ltd (OpenCorporate). However, CySEC has already suspended the company’s license no. 364/18 at the beginning of April 2020.
The Cyprus broker has been operating under the brand BelightFX with the domain officially approved and regulated by CySEC is www.belightcapitaltroup.com. When accessing the website, one currently receives a warning message that the SSL certificate is no longer valid. FinanceFeeds reported in April 2020 that there was apparently no trading on this website even then.
Apparently, BelightFX currently operates its business with unregulated brands like DBFX through offshore companies that do not have a valid license in the EU.
Victims can make their deposits via bank transfers to various beneficiaries at different banks. For example, one can transfer to the Polish company Net Kantor Sp-z.o.o. at PNB Paribas Bank Polksa or to a Peninsula Business Solutions Ltd with an account at Noor Bank in Dubai. The DBFX Limited itself allegedly has an account with the Vanuatu National Bank. In addition to credit cards and bank transfers, crypto payments are also offered via various crypto payment processors.
