According to Belgium's FSMA, listed platforms may extort money from investors.
A Clone of the WeBull trading brand is one of them.
The
Financial Services and Markets Authority (FSMA), Belgium's financial market
regulatory watchdog, flagged 21 online trading platforms offering unlicensed
services in the country. A clone of Webull, a popular US trading platform for
retail investors, is one of them.
Webull Clone in Belgium's
FSMA Warning
Belgium's
FSMA says the list contains potentially fraudulent companies and advises
against using their services. Contracts for difference (CFDs), forex (FX)
brokers and cryptocurrency platforms were among them. Some of these include
Binotrader, Globale-Invest, Itoro-Capital, STB Markets and Webull Investing, a
clone of US regulated Webull trading platform. At the time of writing, the
clone website (webullinvesting.com) is still operating, offering retail CFD
trading.
A complete
list of 21 unlicensed, potentially dangerous platforms and websites is
available in the FSMA's official announcement.
Screenshot of Webull's clone website
FSMA notes
that the trading platforms use aggressive marketing strategies on social media
and online video platforms. Some also exploit mobile apps and affiliate
programs to attract as many victims as possible.
"These
platforms act very aggressively. Scammers even try to persuade the victims to
allow them to take control of their computer remotely in order to make certain
money transfers. The fraudsters also try to convince the victims to invest
increasingly higher amounts of money. They also make promises of repayment in
exchange for one last money transfer. This is a technique to collect even more
money from their victims," the FSMA commented.
Watch the recent FMLS22 panel titled: "Regulation Roundup: Everything You Need to Know for 2023."
FSMA, FCA and CySEC Warn
against Clone Firms
As reported
by Finance Magnates three months ago, FSMA warned against another clone of a well-known brand in the trading service industry, namely CoinDesk. Although,
CoinDesk is a popular crypto trading news website, a company's clone that
offers cryptocurrency trading is potentially dangerous, especially for
beginners and less experienced investors.
A clone is
usually a firm that impersonates another popular trading brand looking to
attract unsuspecting customers. To do so, it may use a similar name, website
layout or even commit identity theft using the exact address details and
license numbers.
Other
popular financial market regulators, including Cyprus' CySEC and the UK's FCA, recently
reported on other clone offers. According to CySEC's announcement in February, an unregulated cryptocurrency firm, IMS Crypto, falsely claimed to
possess a CySEC trading license, using the details of the authorized company,
Initial Merit Secure Ltd, which operates a different website address.
In the
meantime, the British regulator issued a warning against AXI Corp Limited, a
clone firm of the registered forex and CFD broker Axi and its sister company,
One Financial Markets. According to the FCA, while the clone firm is located in
Leadenhall Street, London, the two authorized firms are based at 1 Finsbury
Market, London.
The
Financial Services and Markets Authority (FSMA), Belgium's financial market
regulatory watchdog, flagged 21 online trading platforms offering unlicensed
services in the country. A clone of Webull, a popular US trading platform for
retail investors, is one of them.
Webull Clone in Belgium's
FSMA Warning
Belgium's
FSMA says the list contains potentially fraudulent companies and advises
against using their services. Contracts for difference (CFDs), forex (FX)
brokers and cryptocurrency platforms were among them. Some of these include
Binotrader, Globale-Invest, Itoro-Capital, STB Markets and Webull Investing, a
clone of US regulated Webull trading platform. At the time of writing, the
clone website (webullinvesting.com) is still operating, offering retail CFD
trading.
A complete
list of 21 unlicensed, potentially dangerous platforms and websites is
available in the FSMA's official announcement.
Screenshot of Webull's clone website
FSMA notes
that the trading platforms use aggressive marketing strategies on social media
and online video platforms. Some also exploit mobile apps and affiliate
programs to attract as many victims as possible.
"These
platforms act very aggressively. Scammers even try to persuade the victims to
allow them to take control of their computer remotely in order to make certain
money transfers. The fraudsters also try to convince the victims to invest
increasingly higher amounts of money. They also make promises of repayment in
exchange for one last money transfer. This is a technique to collect even more
money from their victims," the FSMA commented.
Watch the recent FMLS22 panel titled: "Regulation Roundup: Everything You Need to Know for 2023."
FSMA, FCA and CySEC Warn
against Clone Firms
As reported
by Finance Magnates three months ago, FSMA warned against another clone of a well-known brand in the trading service industry, namely CoinDesk. Although,
CoinDesk is a popular crypto trading news website, a company's clone that
offers cryptocurrency trading is potentially dangerous, especially for
beginners and less experienced investors.
A clone is
usually a firm that impersonates another popular trading brand looking to
attract unsuspecting customers. To do so, it may use a similar name, website
layout or even commit identity theft using the exact address details and
license numbers.
Other
popular financial market regulators, including Cyprus' CySEC and the UK's FCA, recently
reported on other clone offers. According to CySEC's announcement in February, an unregulated cryptocurrency firm, IMS Crypto, falsely claimed to
possess a CySEC trading license, using the details of the authorized company,
Initial Merit Secure Ltd, which operates a different website address.
In the
meantime, the British regulator issued a warning against AXI Corp Limited, a
clone firm of the registered forex and CFD broker Axi and its sister company,
One Financial Markets. According to the FCA, while the clone firm is located in
Leadenhall Street, London, the two authorized firms are based at 1 Finsbury
Market, London.
Damian's adventure with financial markets began at the Cracow University of Economics, where he obtained his MA in finance and accounting. Starting from the retail trader perspective, he collaborated with brokerage houses and financial portals in Poland as an independent editor and content manager. His adventure with Finance Magnates began in 2016, where he is working as a business intelligence analyst.
Cyprus Regulator's New Survey Wants to Show How Finance Fuels the Island’s Economy
Hannah Hill on Innovation, Branding & Award-Winning Technology | Executive Interview | AXI
Hannah Hill on Innovation, Branding & Award-Winning Technology | Executive Interview | AXI
Recorded live at FMLS:25, this executive interview features Hannah Hill, Head of Brand and Sponsorship at AXI, in conversation with Finance Magnates, following AXI’s win for Most Innovative Broker of the Year 2025.
In this wide-ranging discussion, Hannah shares insights on:
🔹What winning the Finance Magnates award means for AXI’s credibility and innovation
🔹How the launch of AXI Select, the capital allocation program, is redefining industry standards
🔹The development and rollout of the AXI trading app across multiple markets
🔹Driving brand evolution alongside technological advancements
🔹Encouraging and recognizing teams behind the scenes
🔹The role of marketing, content, and social media in building product awareness
Hannah explains why standout products, strategic branding, and a focus on innovation are key to growing visibility and staying ahead in a competitive brokerage landscape.
🏆 Award Highlight: Most Innovative Broker of the Year 2025
👉 Subscribe to Finance Magnates for more executive interviews, industry insights, and exclusive coverage from the world’s leading financial events.
#FMLS25 #FinanceMagnates #MostInnovativeBroker #TradingTechnology #FinTech #Brokerage #ExecutiveInterview #AXI
Recorded live at FMLS:25, this executive interview features Hannah Hill, Head of Brand and Sponsorship at AXI, in conversation with Finance Magnates, following AXI’s win for Most Innovative Broker of the Year 2025.
In this wide-ranging discussion, Hannah shares insights on:
🔹What winning the Finance Magnates award means for AXI’s credibility and innovation
🔹How the launch of AXI Select, the capital allocation program, is redefining industry standards
🔹The development and rollout of the AXI trading app across multiple markets
🔹Driving brand evolution alongside technological advancements
🔹Encouraging and recognizing teams behind the scenes
🔹The role of marketing, content, and social media in building product awareness
Hannah explains why standout products, strategic branding, and a focus on innovation are key to growing visibility and staying ahead in a competitive brokerage landscape.
🏆 Award Highlight: Most Innovative Broker of the Year 2025
👉 Subscribe to Finance Magnates for more executive interviews, industry insights, and exclusive coverage from the world’s leading financial events.
#FMLS25 #FinanceMagnates #MostInnovativeBroker #TradingTechnology #FinTech #Brokerage #ExecutiveInterview #AXI
Executive Interview | Dor Eligula | Co-Founder & Chief Business Officer, BridgeWise | FMLS:25
Executive Interview | Dor Eligula | Co-Founder & Chief Business Officer, BridgeWise | FMLS:25
In this session, Jonathan Fine form Ultimate Group speaks with Dor Eligula from Bridgewise, a fast-growing AI-powered research and analytics firm supporting brokers and exchanges worldwide.
We start with Dor’s reaction to the Summit and then move to broker growth and the quick wins brokers often overlook. Dor shares where he sees “blue ocean” growth across Asian markets and how local client behaviour shapes demand.
We also discuss the rollout of AI across investment research. Dor gives real examples of how automation and human judgment meet at Bridgewise — including moments when analysts corrected AI output, and times when AI prevented an error.
We close with a practical question: how retail investors can actually use AI without falling into common traps.
In this session, Jonathan Fine form Ultimate Group speaks with Dor Eligula from Bridgewise, a fast-growing AI-powered research and analytics firm supporting brokers and exchanges worldwide.
We start with Dor’s reaction to the Summit and then move to broker growth and the quick wins brokers often overlook. Dor shares where he sees “blue ocean” growth across Asian markets and how local client behaviour shapes demand.
We also discuss the rollout of AI across investment research. Dor gives real examples of how automation and human judgment meet at Bridgewise — including moments when analysts corrected AI output, and times when AI prevented an error.
We close with a practical question: how retail investors can actually use AI without falling into common traps.
Brendan Callan joined us fresh off the Summit’s most anticipated debate: “Is Prop Trading Good for the Industry?” Brendan argued against the motion — and the audience voted him the winner.
In this interview, Brendan explains the reasoning behind his position. He walks through the message he believes many firms avoid: that the current prop trading model is too dependent on fees, too loose on risk, and too confusing for retail audiences.
We discuss why he thinks the model grew fast, why it may run into walls, and what he believes is needed for a cleaner, more responsible version of prop trading.
This is Brendan at his frankest — sharp, grounded, and very clear about what changes are overdue.
Brendan Callan joined us fresh off the Summit’s most anticipated debate: “Is Prop Trading Good for the Industry?” Brendan argued against the motion — and the audience voted him the winner.
In this interview, Brendan explains the reasoning behind his position. He walks through the message he believes many firms avoid: that the current prop trading model is too dependent on fees, too loose on risk, and too confusing for retail audiences.
We discuss why he thinks the model grew fast, why it may run into walls, and what he believes is needed for a cleaner, more responsible version of prop trading.
This is Brendan at his frankest — sharp, grounded, and very clear about what changes are overdue.
Elina Pedersen on Growth, Stability & Ultra-Low Latency | Executive Interview | Your Bourse
Elina Pedersen on Growth, Stability & Ultra-Low Latency | Executive Interview | Your Bourse
Recorded live at FMLS:25 London, this executive interview features Elina Pedersen, in conversation with Finance Magnates, following her company’s win for Best Connectivity 2025.
🔹In this wide-ranging discussion, Elina shares insights on:
🔹What winning a Finance Magnates award means for credibility and reputation
🔹How broker demand for stability and reliability is driving rapid growth
🔹The launch of a new trade server enabling flexible front-end integrations
🔹Why ultra-low latency must be proven with data, not buzzwords
🔹Common mistakes brokers make when scaling globally
🔹Educating the industry through a newly launched Dealers Academy
🔹Where AI fits into trading infrastructure and where it doesn’t
Elina explains why resilient back-end infrastructure, deep client partnerships, and disciplined focus are critical for brokers looking to scale sustainably in today’s competitive market.
🏆 Award Highlight: Best Connectivity 2025
👉 Subscribe to Finance Magnates for more executive interviews, industry insights, and exclusive coverage from the world’s leading financial events.
#FMLS25 #FinanceMagnates #BestConnectivity #TradingTechnology #UltraLowLatency #FinTech #Brokerage #ExecutiveInterview
Recorded live at FMLS:25 London, this executive interview features Elina Pedersen, in conversation with Finance Magnates, following her company’s win for Best Connectivity 2025.
🔹In this wide-ranging discussion, Elina shares insights on:
🔹What winning a Finance Magnates award means for credibility and reputation
🔹How broker demand for stability and reliability is driving rapid growth
🔹The launch of a new trade server enabling flexible front-end integrations
🔹Why ultra-low latency must be proven with data, not buzzwords
🔹Common mistakes brokers make when scaling globally
🔹Educating the industry through a newly launched Dealers Academy
🔹Where AI fits into trading infrastructure and where it doesn’t
Elina explains why resilient back-end infrastructure, deep client partnerships, and disciplined focus are critical for brokers looking to scale sustainably in today’s competitive market.
🏆 Award Highlight: Best Connectivity 2025
👉 Subscribe to Finance Magnates for more executive interviews, industry insights, and exclusive coverage from the world’s leading financial events.
#FMLS25 #FinanceMagnates #BestConnectivity #TradingTechnology #UltraLowLatency #FinTech #Brokerage #ExecutiveInterview
In this video, we take an in-depth look at @BlueberryMarketsForex , a forex and CFD broker operating since 2016, offering access to multiple trading platforms, over 1,000 instruments, and flexible account types for different trading styles.
We break down Blueberry’s regulatory structure, including its Australian Financial Services License (AFSL), as well as its authorisation and registrations in other jurisdictions. The review also covers supported platforms such as MetaTrader 4, MetaTrader 5, cTrader, TradingView, Blueberry.X, and web-based trading.
You’ll learn about available instruments across forex, commodities, indices, share CFDs, and crypto CFDs, along with leverage options, minimum and maximum trade sizes, and how Blueberry structures its Standard and Raw accounts.
We also explain spreads, commissions, swap rates, swap-free account availability, funding and withdrawal methods, processing times, and what traders can expect from customer support and additional services.
Watch the full review to see whether Blueberry’s trading setup aligns with your experience level, strategy, and risk tolerance.
📣 Stay up to date with the latest in finance and trading. Follow Finance Magnates for industry news, insights, and global event coverage.
Connect with us:
🔗 LinkedIn: /financemagnates
👍 Facebook: /financemagnates
📸 Instagram: https://www.instagram.com/financemagnates
🐦 X: https://x.com/financemagnates
🎥 TikTok: https://www.tiktok.com/tag/financemagnates
▶️ YouTube: /@financemagnates_official
#Blueberry #BlueberryMarkets #BrokerReview #ForexBroker #CFDTrading #OnlineTrading #FinanceMagnates #TradingPlatforms #MarketInsights
In this video, we take an in-depth look at @BlueberryMarketsForex , a forex and CFD broker operating since 2016, offering access to multiple trading platforms, over 1,000 instruments, and flexible account types for different trading styles.
We break down Blueberry’s regulatory structure, including its Australian Financial Services License (AFSL), as well as its authorisation and registrations in other jurisdictions. The review also covers supported platforms such as MetaTrader 4, MetaTrader 5, cTrader, TradingView, Blueberry.X, and web-based trading.
You’ll learn about available instruments across forex, commodities, indices, share CFDs, and crypto CFDs, along with leverage options, minimum and maximum trade sizes, and how Blueberry structures its Standard and Raw accounts.
We also explain spreads, commissions, swap rates, swap-free account availability, funding and withdrawal methods, processing times, and what traders can expect from customer support and additional services.
Watch the full review to see whether Blueberry’s trading setup aligns with your experience level, strategy, and risk tolerance.
📣 Stay up to date with the latest in finance and trading. Follow Finance Magnates for industry news, insights, and global event coverage.
Connect with us:
🔗 LinkedIn: /financemagnates
👍 Facebook: /financemagnates
📸 Instagram: https://www.instagram.com/financemagnates
🐦 X: https://x.com/financemagnates
🎥 TikTok: https://www.tiktok.com/tag/financemagnates
▶️ YouTube: /@financemagnates_official
#Blueberry #BlueberryMarkets #BrokerReview #ForexBroker #CFDTrading #OnlineTrading #FinanceMagnates #TradingPlatforms #MarketInsights
