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TitanTrade Binary Options Scam Exposed

According to our sources, the network of scammers around TitanTrade and Guy Galboiz is even more sinister than the Yukom Enterprise binary options operation, of whom Lee Elbaz, Yossi Herzog, and Kobi Cohen are currently facing charges in the United States. In actuality, it has grown even larger, involving more brands, and it has conned ordinary investors on every continent.

NRGbinary was replaced by TitanTrade, a binary options platform, according to a 2016 special report by Reuters. Guy Galboiz, an Israeli, was the organiser of both binary options systems. In 2013, Guy Galboiz served as a director of NRG Capital Limited, a UK-based company. In 2014, the business was dissolved. Since then, frontmen, nominee directors, and trustees have managed Galboiz’s businesses. Between 2013 and 2017, Galboiz operated a global binary options scam that lured tens of millions of ordinary investors.

Galboiz is also connected to other significant binary options frauds including AlfaCapitals, PWRtrade, ICoption, and AlgoCapitals. He is among the most formidable assailants of the binary options era. This is our report.

Northwestern Management Services Limited is the power source.

Northwestern Management Services Limited (NWMS) and its employees launched Guy Galboiz’s TitanTrade and the related broker scams. They supplied the required nominee directors, including Genevieve Magnan and Vanessa Payet, as well as trustees. From numerous previous Israeli binary options and broker scams, we are familiar with NWMS.

Associated Entities

In keeping with the standard pattern of a broker scam, TitanTrade’s website has been linked to numerous entities:

GTech Media Development Ltd (Israel)

NRG Capital Limited (UK

Ultra Solutions MG Limited (Dominica)

Ultra Solutions MG (UK) Ltd (UK)

Titan Trade Solutions Limited (UK)

Titan Trade Capital Limited (Australia)

GN Capital Limited (Marshall Islands)

Primero Capital Solutions Limited (Anguilla)

One Tech Media Limited (Seychelles)

DOM Technology Services Limited (UK)

MHGG Tech Solutions Limited (UK)

Alfa Capital Limited (UK)

Technozone Solutions Ltd (Belize)

The TitanTrade scheme set up a different entity to handle client-victim payments for its Australian business:

Allianz Metro Pty Ltd,

Transcomm Global Pty Ltd,

Sansen Pty Ltd, or

IMC Holdings Pty Ltd

Beneficial Owners

The same “set of perpetrators” and their entities consistently run TitanTrade, NRGbinary or ICoption, as well as a variety of front firms, according to investigations conducted by authorities in several jurisdictions. These businesses are as follows:

MIG G.A. Marketing Finance Ltd (now GTech Media Development Ltd),

Ultra Solutions MG Ltd and its subsidiary

Ultra Solutions MG /UK) Ltd and

Primero Capital Solutions Ltd.

The documentation that we have access to shows that these businesses are under the direction of the two individuals.

Guy Galboiz and

Stefan Trasca.

A written statement from Eyal Nachum, who was involved in some of the binary options frauds described via his payment service businesses Payotech Ltd, Pay o Bin Ltd, and Moneta International UAB, verified the beneficial ownership and/or control over the schemes.

Eyal Nachum of Payobin confirmed Guy Galboiz involvement in binary options scheme operators

Involved People

The TitanTrade plan took an aggressive global strategy. Attacks against retail investors have been reported in Europe, North America, and Australia, with attacks beginning in Israel. The Australian branch is especially significant. The main actors are as follows:

Galboiz Guy (Israel)

Trasca Stefan (Romania)

Israel, Australia: Yoav Ida

Eustace Senese, aka Tony, from Australia

Sandy Senese, an Aussie

Aussie Cameron Senese

Guy Galboiz in Israel and his Romanian associate Stefan Trasca in Romania oversaw the boiler rooms. The Israeli company MIG G.A. Marketing Finance Ltd. (MigFin) operated the boiler rooms for NRGbinary, TitanTrade, ICoption, and other schemes, as Reuters accurately reports in its 2016 article.

Cameron Senese, his wife Sandy Senese, and Eustace “Tony” Senese oversaw TitanTrade’s operations in Australia. In essence, they oversaw Australia’s payment flow infrastructure. Numerous businesses, including Allianz Metro Pty Ltd, Transcomm Global Pty Ltd, Sansen Pty Ltd, and IMC Holdings Pty Ltd, were run for this reason.

Tony Senese, an Australian citizen, was already given a seven-year prison sentence in 2002 for embezzling investor cash from the bankrupt financial services company EC Consolidated Capital.

Our information indicates that Yoav Ida served as the Australia-Israel liaison officer. The businessman, who was born in 1959, oversaw the Senese family’s operations related to TitanTrade.

The Australian Proceedings

The Australian regulatory body ASIC has been actively pursuing TitanTrade since August 2016. A lawsuit was filed against the owners of TradeTTN and TitanTrade in November 2017 following many warnings issued in 2016 and a court decision that forbade TitanTrade from carrying on with business as usual.

The Senese family’s assets and bank accounts were successfully frozen by ASIC. ASIC successfully prosecuted Tony Senese, his son Cameron, and Transcomm Global Pty Ltd for contempt of court in July 2018. Despite the mandated hold on TitanTrade’s cash, the Seneses had repeatedly embezzled money. In October 2018, the court imposed penalties totaling $80,000.

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Alchemy Markets Scam Exposed

The offshore broker Alchemy Markets, a member of the Alchemy Group that also comprises the FCA-regulated Alchemy Prime and the Vanuatu-based FXPIG, came under fire from the Spanish CNMV in July 2022. The same brand and trading style are used across various domains and websites, potentially or purposefully misleading customers, as is often the case with these worldwide broker schemes. By acquiring clients from Europe and the UK, the offshore broker Alchemy Markets is breaking relevant regulatory regulations. This is our most recent review.

Short Narrative

While the offshore division of the Alchemy Group uses the name Alchemy Markets and the domain https://alchemymarkets.com, the UK FCA-regulated investment firm Alchemy Prime operates the website with the domain https://alchemyprime.uk. The word “Alchemy” serves as the basis for the used logos. They use the same primary graphic components but make additions (see image on the left).

The webpage for the offshore mutation is poorly designed. Documents such as the KYC Policy, Privacy Policy, and Client Agreement, for instance, are absent. The link goes nowhere; all you get is the error message 404. Additional links on the Alchemy Markets offshore broker website point to the FCA-regulated entity’s Client Agreement.

Furthermore, Alchemy Group uses the FCA-regulated Alchemy Prime Ltd as a payment agent to run the offshore broker FXPIG through Prime Intermarket Group Asia Pacific Ltd, which is registered in Vanuatu and licensed by the VFSC. The FXPIG website states that every company is managed by a single entity.

Gope Shyamdas Kundnani, an Indian national born in 1957, is the owner of Alchemy Group, according to documents obtained through Alchemy Prime Holdings Limited from UK Companies House.

KYC Deposits Prior to

We did not find any limitations on the pre-KYC first-time deposit amount in our payment simulation on October 10, 2022. Through a bank transfer to the multi-currency accounts of the offshore broker scheme at Franx and Blackthorn Finance in the UK, located in Amsterdam, we would have been able to send $50,000 to the scheme.

Alchemy Markets (As claimed)

For each and every one of our clients, Alchemy Markets provides Institutional Access to the Global Financial Markets. Trade your preferred instruments with a variety of free tools and round-the-clock customer assistance, including stocks, forex, indices, cryptocurrencies, and CFDs.

With more than ten years of industry experience, Alchemy Markets offers some of the greatest trading conditions available, including institutional liquidity, spreads, and execution along with zero commission costs and round-the-clock customer service. We offer the most widely used trading platforms, including MT4, MT5, and FIX API, in addition to free resources and research to help our customers along the way.

Do you manage money or are you an IB? Use CopyTrading or PAMM software to trade on behalf of your clients. Charge personalised management and performance fees, keep tabs on your customers with our real-time CRM, and much more with Alchemy markets.

Alchemy Markets offers services related to forex trading. A vast array of assets, including currencies, indices, cryptocurrencies, and commodities, are available to traders across several marketplaces. In contrast, Alchemy Markets offers a free demo account that you can use to explore and become acquainted with their platform. The UK is home to its main office. 

Trading Cryptocurrencies

Since cryptocurrencies have such high levels of volatility, trading them is a lucrative and potentially very profitable area of investing. With more than 60 distinct Crypto CFDs, Alchemy Markets has a fantastic offer for any trader looking to take advantage of the competitive conditions and enter into this rapidly expanding sector. 10:1 leverage, 100% STP execution, and costs as low as 0.35% Round Turn are available for cryptocurrency trading. After creating an account with this online broker, cryptocurrency traders can use the MT4 platform for trading.

Wind-Up- A Six-Step Guide to Verifying the Legitimacy of Your Broker

Even though investing has become risk-free, inexpensive, and effective for regular investors, there are still certain cases of brokerage fraud committed to defraud gullible or avaricious investors.

There are numerous methods for determining the legitimacy of your broker. Do your homework in advance at all times.

Avert cold calls, investigate the firm’s and the broker’s or planner’s record for any disciplinary issues, and look for funny stuff on your statements.

If in doubt, there are a few different ways to report anything and ask for compensation.

The most reliable source for finding out about a broker’s status is FINRA.

You may safeguard yourself against doing business with a dishonest broker or other financial professional by following these six steps:

1. Avoid Making Cold Contacts 

Any broker or investment advisor who reaches you out of the blue from a company you have never done business with should be avoided. The correspondence may be sent by letter, email, or phone. Invitations to financial seminars that provide complimentary lunches or other goodies in an attempt to win you over shouldn’t fool you into lowering your guard and making rash investments.

The SEC further advises being extremely wary of callers that employ high-pressure sales techniques, advertise once-in-a-lifetime prospects, or decline to provide written information about an investment. 

2. Engage in Discussion

You should feel at ease with the individuals offering you guidance, goods, and services, whether you’re searching for a financial counsellor or a broker. Inquire extensively about the company’s offerings and its track record serving customers with comparable demands to your own. 

3. Conduct some research

When investigating a financial expert, it’s advisable to start with a straightforward web search using the broker’s and firm’s names. This could include recent announcements, media coverage of purported misconduct or disciplinary measures, client discussions on internet discussion boards, background data, and other specifics. A search engine query for “Lee Dana Weiss,” for example, yields hundreds of thousands of results, one of which is a link to the press release regarding the SEC’s lawsuit against him and his company. 

4. Confirm your SIPC membership

Additionally, you ought to confirm whether a brokerage company belongs to the Securities Investor Protection Corporation (SIPC), a nonprofit organisation that offers investors protection for up to $500,000 (including $250,000 in cash) in the event that a company fails, much like the Federal Deposit Insurance Corporation (FDIC) does for bank customers. Always make cheques payable to the SIPC member firm rather than a specific broker when investing.

5. Frequently Review Your Statements

Setting your investments to run on autopilot is the worst thing you can do. Whether you receive your statements in print or online, carefully reviewing them might help you catch errors or even malfeasance early on. Inquire if there are unexpected changes in your portfolio or if the returns on your investments aren’t what you anticipated. Reject complex guarantees that you don’t fully comprehend. Ask to talk with a higher-ranking official if you are unable to acquire clear answers. Never worry that people will think less of you or that you’re a bother. 

6. If in doubt, take money out and file a complaint.

Take your money out of the investment advisor if you think there has been misconduct. Next, submit complaints to the same state, federal, and private authorities whose websites you visited when you checked out the financial professional to start with

Bottom Line

Even though the Great Recession is resolved, brokers and investment advisors are still breaking the law. Thus, before entrusting a financial expert with your money, conduct in-depth study and keep a careful eye on your accounts. It is possible for investments to perform below expectations for valid reasons. However, if you start to feel uneasy about your returns or have other problems that the advisor doesn’t address promptly and effectively, don’t be afraid to withdraw your money.

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Armin Ordodary and FSM Smart’s Scam Exposed

There was a huge network of scam brokers surrounding FSM Smart and the so-called Lau Scheme. Armin Ordodary, a Cypriot of Iranian descent, is at its core. He has run a network of frauds and boiler rooms with associates that stretches from Georgia to the Balkans and Italy. Regulators from all around the world may have issued more warnings in relation to the FSM Smart broker fraud than any other. It is also known that in certain jurisdictions, law enforcement agencies are conducting investigations. Desperately, Ordodary keeps contacting Google to request DMCA takedown in an effort to block media reporting.

The Lau Scheme of FSM Smart

Lau Global Services Corp was an offshore company registered in Belize and licensed by the International Financial Services Commission under licence number IFSC/60/402/TS/15. The Lau Scheme operated at least the following broker brands:

MXTrade (www.mxtrade.com)

LGS Corp (www.lgs-corp.com)

TradingBanks (www.tradingbanks.com)

Trade12 (www.trade12.com)

MTI Markets (www.mtimarkets.com)

Grizzly (www.grizzly-ltd.com)

The media team has been able to identify a variety of legal entities connected with the Lau Scheme:

Lau Global Services Corp (Belize)

Upmarkt d.o.o. (Serbia), now BizServe d.o.o.)

Exo Capital Markets Ltd (Marshall Islands)

Global Fin Services Ltd (UK)

MTI Investments LLC or MTI Markets Ltd (Marshall Islands)

Grizzly Ltd (Malta)

R Capital Solutions Ltd (Cyprus)

Benrich Holdings Ltd (Cyprus)

Eyar Financial Corp Limited (Vanatu)

SIAO Ltd (Cyprus)

The majority of the companies don’t have a website or are no longer active on social media, although Lau Global Service Corp.’s Facebook page is still accessible. Lau Global Services is also a shareholder in Grizzly Ltd., a Malta-based company that formerly served as a payment services provider for such dishonest and unlawful broker schemes, according to Offshore Leaks Database. Shlomo Matan Shalom Avshalom, an Israeli, is listed as a director of Grizzly Ltd.

Up until 2015, MXtrade was owned and operated by R Capital Solutions Limited, which is currently Eightcap EU Ltd, a CySEC-regulated CIF. After that, the brand and its clientele were moved to the Lau Scheme.

Armin Ordodary’s FSM Scheme

The FSM Smart (www.fsmsmart.com) scam broker, Armin Ordodary (shown on the left), is involved in the Lau Scheme. Through its Serbian boiler room Upmarkt d.o.o. (formerly Bizserve d.o.o.), of which Benrich Holdings Ltd., a company registered in Cyprus, is the only stakeholder, it has been actively courting clients. Armin Ordodary, a resident of Cyprus, serves as the director of both companies. With Kyiv, Ukraine, serving as something of a hotspot, more boiler chambers have already been discovered in other jurisdictions.

According to a leak, Upendo Limited in Cyprus runs a boiler room in Paphos and is also a member of the network. In December 2018, Upendo was officially registered with the company number HE392291. Christoforos Andreou and AMF Global Services Limited are listed as directors. These seem to be trustees on behalf of the beneficial owners.