Belgium’s FSMA warns of Apex500, Infinity4x and Top Capital 24

abdelaziz Fathi

Belgium’s financial watchdog, the Financial Services and Markets Authority ‎‎(FSMA), has issued a warning against the unauthorized activities of multiple ‎ platforms that are offering investments in the country without ‎complying with Belgian financial legislation.‎

FSMA operates as a watchdog for financial trading, securities and markets in Belgium, overseeing a variety of assets and compliance issues for traders and consumers. Today’s warning is the latest initiative in its efforts to clamp down on companies engaging in fraudulent activities.

The agency also managed to catch up in the last few months, bringing standalone actions against cryptocurrency operators. This represents the FSMA‎’s latest effort to police the rampant internet-based ‎cryptocurrency schemes, which operate into a zone that the ‎watchdog regulates.

The latest additions include:

  • Agartha Asset Management (www.agarthaassetmanagement.com)
  • Antarimarkets (www.antarimarkets.com)
  • Apex500 (www.apex-500.com)
  • Brokeragea (www.brokeragea.com)
  • Calliber (www.calliber.io)
  • Capital Professional Reserve (www.cp-r.net) (cloned firm)
  • Concept Blue (www.concept-blue.com) (cloned firm)
  • Cryptosaving (www.cryptosavings.io)
  • CTmatador (www.ctmatador.com and www.platform.ctmatador-pro.com)
  • DCMGROUP (www.dcmgroup.io)
  • EJMarkets (www.ejmarkets.com)
  • Europa Trade Capital (www.europatradecapital.com)
  • Euro Trade (www.eurotrade.co)
  • FinsRoyal (www.finsroyal.com)
  • Foxane (www.foxane.com)
  • Fxpoint (www.fxpoint.co)
  • Glenrocks (www.glenrocks.com)
  • Globalxtrades (www.globalxtrades.com)
  • High Capital (www.high-capitals.com)
  • Introtrade (www.introtrade.pro)
  • Infinity4x (www.infinity4x.com)
  • Kardon Capital (www.kardoncapital.com)
  • LPLeurope (www.lpleurope.com)
  • LPL Invest (www.lplinvest.com)
  • Oriontero (www.oriontero.com)
  • Slimhandel (www.slimhandel.com)
  • Soltechx (www.soltechx.com)
  • Standpoint Finance (www.standpointfinance.com)
  • Ti-GI (www.ti-gi.com)
  • Top Capital 24 (www.topcapital24.com) (cloned firm)
  • Towards Source (www.towardssource.com)
  • Traderhouse (www.traderhouse.com)
  • Trade Horizon (www.tradehorizon.com and www.tradehorizon2.com)
  • Trends Turbo (www.trends-turbo.com)
  • Ualgo (www.ualgo.com)
  • World Markets (www.worldmarkets.com)
  • Word Wide Brokers (www.worldwidebrokers.co)
  • x-tradebrokers (www.x-tradebrokers.com)

The aforementioned companies are not authorized investment firms in Belgium. They are therefore not allowed to provide investment services in or from within the country.

Based on this, the FSMA strongly advises against responding to any offers of financial or recovery services made by the companies listed above and against transferring money to any account number they might mention.

To get the protections offered by securities laws when trading digital assets, investors should ‎use a platform or entity registered with the FSMA, the regulator said.

Cryptocurrency companies operating in Belgium have to apply for a license to the nation’s financial watchdog as the new anti-money laundering (AML) regulations come into effect.

License applicants must show to Belgium’s Financial Services and Markets Authority (FSMA) that they possess sufficient capability, coherence, and solvency to run the business.

As part of their plans, the FSMA imposes a minimum capital of €50,000 ($53,000) and mandate a corporate structure on cryptoasset-related businesses to register with the country’s regulator.

Once the new regulation takes effect, that would force crypto exchanges, wallet providers and crypto custodial service providers operating in Belgium to register with a financial regulator and prove that they are meeting AML requirements if they want to continue their operations.

Read this next

Digital Assets

Wirex launches crypto loans with LTV of up to 80%

The recent market collapse hasn’t stopped Wirex from pursuing its crypto loan offering allowing users to borrow up to $100,000.

Digital Assets

Chainalysis and Cellebrite to launch integrated solution

As a result of this cooperation, examiners, investigators, analysts, and compliance officers will be able to seamlessly identify illicit cryptocurrency-related activity in a single place as part of their familiar digital investigation workflows.

Executive Moves

Gate.io hires ex-Google Tom Yang for brand building

Gate.io has appointed Tom Yang as Executive Vice President (EVP) to gradually carry out its global brand building and market development.

Digital Assets

What if Ripple loses and XRP is deemed a security?

The outcome of the Veritaseum case could provide guidance to XRP holders looking for answers about what will happen to their assets.

Executive Moves

BestEx Research taps Paul Merolla as General Counsel

He has served as General Counsel at institutional broker Instinet Group and was Associate Counsel at Goldman Sachs.

Industry News

eToro announces termination of SPAC deal amid “circumstances”

“We ended Q2 2022 with approximately 2.7 million funded accounts, an increase of over 12% versus the end of 2021, demonstrating continued customer acquisition and retention rates that have been improving over time. We remain confident in our long-term growth strategy and excited for the future of eToro.”

Digital Assets

EU crypto regulation limits privacy to 1,000-euro threshold

MiCA complements existing AML rules and aims to enhance financial stability and investor protection in Europe.

Retail FX

GKFX Prime adds MT4 and MT5

In April, GKFX launched a proprietary trading platform.

Industry News

UEZ hits the Korean market

On the 8th to 10th of June 2022, the team from UEZ Markets attended the breathtaking Smart Tech Korea 2022 expo in the wonderful city of Seoul

<