In January 2022 FinTelegram reported a warning from the UK Financial Conduct Authority (FCA) against ZoomGlobalFX (https://zoomglobalfx.com). The website claimed that the offshore entity Raw Trading Ltd, regulated by the Financial Services Authority of Seychelles (FSA), would be the operator. However, this entity is part of the ASIC and CySEC-regulated IC Markets group. Sometime after our report, the ZoomGlobalFX broker scheme vanished into the dark of the Internet.
In our review in January 2022, we found that many links of the ZoomGlobalFX website such as the footer menu items, Terms & Conditions, Privacy Policy, etc. all redirected to the websites of IC Markets. In addition to Raw Trading Ltd, there are other operators that have used the registration or license data of IC Markets in Australia, Cyprus, and the Bahamas. FinTelegram carefully outlined the findings of the review in its January 2022 report and explained that Raw Trading Ltd is part of the IC Markets group. Already in October 2020, the Italian regulator Consob warned about the activities of Raw Trading Ltd and blocked the website www.icmarkets.com for access by Italian consumers.
Read our report on Raw Trading and the Consob Warning here.
The FinTelegram report headlined “IC Markets again? Warning against ZooGlobalFX Scam” on ZoomGlobalFX published on 12 January 2022 was based solely on facts. We have made the corresponding screenshots as proof. Nevertheless, IC Markets Group feels defamed by our report (screenshot on the left). However, the report of facts in no way fulfills the legal definition of defamation. In no jurisdiction of this world.
The indisputable facts are
- FCA has issued a warning against ZoomGlobalFX;
- on the website, Raw Trading Ltd was named as the operator;
- Consob had ordered a black-out of Raw Trading d/b/a IC Markets in Oct/Nov 2020.
IC Markets alleges in a statement to FinTelegram and third parties that the report is false, misleading, and defamatory. However, it is correct that this accusation by IC Markets constitutes a defamatory statement that massively damages FinTelegram. We have therefore instructed our lawyers to take the appropriate measures.
Share Information
If you have any information about ZoomGlobalFX or IC Markets, please let us know via our whistleblower system, Whistle42.
