Still active! Another regulatory warning against IGC Markets

investor warning against IGC Markets broker scam
Spread financial intelligence

FinTelegram has warned several times against the IGC Markets (www.igcmarkets.com) broker scam that chases victims via fraudulent marketing campaigns such as Elite Trader or Bitcoin Loophole. The offshore entity MaxxMedia LLC, registered in St. Vincent & The Grenadines, is the alleged operator. The Austrian Financial Market Authority (FMA) has followed with a warning against IGC Markets. Today, the UK FCA issued a warning against the IGC Markets scam. Do not fall for this scam and avoid registering with fraudulent marketing campaigns at all costs.

Key data

BrandIGC Markets
Legal entityMaxxMedia LLC
JurisdictionSt. Vincent & The Grenadines
Regulatory warningsAustrian FMA, UK FCA
Payment processorCoinsxo (report here)

Scam narrative

The IGC Markets scam has been active for a few months now. Currently, there are no reviews on Trustpilot. However, we have found some bought (sponsored) positive reviews like on CryptoCurrency Regulations (here) or CryptocyNews (here) have been published as late as mid-August 2021. MaxxMedia LLC was not registered in St. Vincent & The Grenadines until June 2021 with registration number 1162, according to the Financial Services Authority (FSA).

In our first review, we discovered Coinsxo as a facilitating payment processor. In our re-check today, no deposit was possible without consulting the account manager a/k/a boiler room agent.

Share information

If you have any information about the operators and facilitators of IGC Markets, please let us know through our whistleblower system, Whistle42.

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