Investor warning against FXVC with-label scam broker TopMarketCap!

Investor warning against FXVC white label scam TopMarketCap
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The Austrian Financial Market Authority (FMA) has issued an investor warning against TopMarketCap broker (www.topmarketcap.com). On the scam’s website, no legal entity is listed as an operator. This information is mostly worthless anyway, because these are usually offshore entities with nominee directors. In the case of TopMarketCap, we could easily see that it is a white label solution of CySEC-regulated Finteractive d/b/a FXVC. Their platform is used by many big scams.

FXVC is operated by Finteractive Ltd (previously Centralspot Trading Ltd), a broker regulated by CySEC with the approved domain www.fxcv.com/eu under the license 238/14. Its offshore entity Gstaad Brokers Ltd, regulated by the FSA in Seychelles, operates on www.fxvc.com/int and illegally solicits EU residents, onboarding them without proper onboarding or KYC and AML verification. In April 2021, the UK FCA banned FXVC for its inappropriate practices, including misleading financial promotions. In addition to its own offshore entity, many large broker scams like TopMarketCap also use the FXVC platform and its infrastructure.

Binary options legacy

FXVC was initially a trading software company. The broker brand and domain registered with CySEC until 2020 was Opteck (www.opteck.com), which specializes in binary options. At that time, Finteractive Ltd was still called Centralspot Trading Ltd. Then, in 2020 Opteck was terminated, the company was renamed, and FXVC became the new brand for the regulated forex, indices, CFD, and a crypto broker.

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