BaFin warns that the scam broker AC-MarketsFX, Cyprus, does not have a license to conduct banking business or provide financial services in Germany. The scam operates with different domains and trading styles as a clone of the CySEC-regulated CIFs AG Markets (Europe) Limited and AAA Trade Ltd which are currently permitted to operate in the EU on the basis of the European license passporting regulations. The CySEC-regulated AG Markets (Europe) warns against this scam on its website.
Key data
| Trading name | AC-MarketsFX AGM Markets |
| Domains | https://acmarketsfx.com https://agmmarkets.net https://acmarkets.co |
| Clones of | AG Markets (Europe) Limited (CySEC CIF) AAA Trade Ltd (CySEC CIF) |
| Jurisdictions | Cyprus |
| Warnings | BaFin |
The scam’s website links to AG Markets (Europe) Limited‘s regulatory filings with CySEC and BaFin, as well as to AAA Trade Ltd‘s registration with Consob in Italy.
The websites, as well as information and documents available to BaFin, justify the assumption that unauthorized banking transactions or financial services are being offered in Germany via the platform. In addition, the website claims to be licensed by BaFin. This is not the case, according to BaFin.
