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.
smartTrade to Buy BGC’s Analytics Unit kACE in $119M Deal to Build Unified Platform
Exness expands its presence in Africa: Inside our interview with Paul Margarites in Cape Town
Exness expands its presence in Africa: Inside our interview with Paul Margarites in Cape Town
Finance Magnates met with Paul Margarites, Exness regional commercial director for Sub-Saharan Africa, during a visit to the firm’s office opening in Cape Town. In this talk, led by Andrea Badiola Mateos, Co-CEO at Finance Magnates, Paul shares views on the South African trading space, local user behavior, mobile trends, regulation, team growth, and how Exness plans to grow in more markets across the region. @Exness
Read the article at: https://www.financemagnates.com/thought-leadership/exness-expands-its-presence-in-africa-inside-our-interview-with-paul-margarites/
#exness #financemagnates #exnesstrading #CFDtrading #tradeonline #africanews #capetown
Finance Magnates met with Paul Margarites, Exness regional commercial director for Sub-Saharan Africa, during a visit to the firm’s office opening in Cape Town. In this talk, led by Andrea Badiola Mateos, Co-CEO at Finance Magnates, Paul shares views on the South African trading space, local user behavior, mobile trends, regulation, team growth, and how Exness plans to grow in more markets across the region. @Exness
Read the article at: https://www.financemagnates.com/thought-leadership/exness-expands-its-presence-in-africa-inside-our-interview-with-paul-margarites/
#exness #financemagnates #exnesstrading #CFDtrading #tradeonline #africanews #capetown
Interview with Jas Shah
Builder | Adviser | Fintech Writer | Product Strategist
In this episode, Jonathan Fine sat down with Jas Shah, one of the most thoughtful voices in global fintech. Known for his work across advisory, product, stablecoins, and his widely read writing, Jas brings a rare combination of industry insight and plain-spoken clarity.
We talk about his first impression of the Summit, the projects that keep him busy today, and how they connect to the stablecoin panel he joined. Jas shares his view on the link between fintech, wealthtech and retail brokers, especially as firms like Revolut, eToro and Trading212 blur long-standing lines in the market.
We also explore what stablecoin adoption might look like for retail investment platforms, including a few product and UX angles that are not obvious at first glance.
To close, Jas explains how he thinks about writing, and how he approaches “shipping” pieces that spark debate across the industry.
Interview with Jas Shah
Builder | Adviser | Fintech Writer | Product Strategist
In this episode, Jonathan Fine sat down with Jas Shah, one of the most thoughtful voices in global fintech. Known for his work across advisory, product, stablecoins, and his widely read writing, Jas brings a rare combination of industry insight and plain-spoken clarity.
We talk about his first impression of the Summit, the projects that keep him busy today, and how they connect to the stablecoin panel he joined. Jas shares his view on the link between fintech, wealthtech and retail brokers, especially as firms like Revolut, eToro and Trading212 blur long-standing lines in the market.
We also explore what stablecoin adoption might look like for retail investment platforms, including a few product and UX angles that are not obvious at first glance.
To close, Jas explains how he thinks about writing, and how he approaches “shipping” pieces that spark debate across the industry.
Vitalii Bulynin Talks About Versus Trade, New Pairs, and Big Plans
Vitalii Bulynin Talks About Versus Trade, New Pairs, and Big Plans
In this interview, Versus Trade Co-Founder Vitalii Bulynin explains how the company got its license fast, why its trading pairs are fresh and fun, and what the team will build next.
He also discusses the most active pairs, the IB and MIB plans, and hiring needs for new markets.
Watch the whole talk to learn more about how Versus Trade works and where it is heading.
#financemagnates #VersusTrade #TradingPairs #BTCvsGold #goldtrading #innovation
In this interview, Versus Trade Co-Founder Vitalii Bulynin explains how the company got its license fast, why its trading pairs are fresh and fun, and what the team will build next.
He also discusses the most active pairs, the IB and MIB plans, and hiring needs for new markets.
Watch the whole talk to learn more about how Versus Trade works and where it is heading.
#financemagnates #VersusTrade #TradingPairs #BTCvsGold #goldtrading #innovation
Marketing in 2026 Audiences, Costs, and Smarter AI
Marketing in 2026 Audiences, Costs, and Smarter AI
As brokers eye B2B business and compete with fintechs and crypto exchanges alike, marketers need to act wisely with often limited budgets. AI can offer scalable solutions, but only if used properly.
Join seasoned marketing executives and specialists as they discuss the main challenges they identify in financial services in 2026 and how they address them.
Attendees of this session will walk away with:
- A nuts-and-bolts account of acquisition costs across platforms and geos
- Analysis of today’s multi-layered audience segments and differences in behaviour
- First-hand account of how global brokers balance consistency and local flavour
- Notes from the field about intelligently using AI and automation in marketing
Speakers:
-Yam Yehoshua, Editor-In-Chief at Finance Magnates
-Federico Paderni, Managing Director for Growth Markets in Europe at X
-Jo Benton, Chief Marketing Officer, Consulting | Fractional CMO
-Itai Levitan, Head of Strategy at investingLive
-Roberto Napolitano, CMO at Innovate Finance
-Tony Cross, Director at Monk Communications
#fmls #fmls25 #fmevents #FintechMarketing #AI #DigitalStrategy #Fintech #Innovation
Connect with us at:
🔗 LinkedIn: / financemagnates-events
👍 Facebook: / financemagnatesevents
📸 Instagram: / fmevents_official
🐦 Twitter: / f_m_events
🎥 TikTok: / fmevents_official
As brokers eye B2B business and compete with fintechs and crypto exchanges alike, marketers need to act wisely with often limited budgets. AI can offer scalable solutions, but only if used properly.
Join seasoned marketing executives and specialists as they discuss the main challenges they identify in financial services in 2026 and how they address them.
Attendees of this session will walk away with:
- A nuts-and-bolts account of acquisition costs across platforms and geos
- Analysis of today’s multi-layered audience segments and differences in behaviour
- First-hand account of how global brokers balance consistency and local flavour
- Notes from the field about intelligently using AI and automation in marketing
Speakers:
-Yam Yehoshua, Editor-In-Chief at Finance Magnates
-Federico Paderni, Managing Director for Growth Markets in Europe at X
-Jo Benton, Chief Marketing Officer, Consulting | Fractional CMO
-Itai Levitan, Head of Strategy at investingLive
-Roberto Napolitano, CMO at Innovate Finance
-Tony Cross, Director at Monk Communications
#fmls #fmls25 #fmevents #FintechMarketing #AI #DigitalStrategy #Fintech #Innovation
Connect with us at:
🔗 LinkedIn: / financemagnates-events
👍 Facebook: / financemagnatesevents
📸 Instagram: / fmevents_official
🐦 Twitter: / f_m_events
🎥 TikTok: / fmevents_official
Fail Better Trading Tech to Tackle Industry Risks
Fail Better Trading Tech to Tackle Industry Risks
Much like their traders in the market, brokers must diversify to manage risk and stay resilient. But that can get costly, clunky, and lengthy.
This candid panel brings together builders across the trading infrastructure space to uncover the shifting dynamics behind tools, interfaces, and full-stack ambitions.
Attendees will hear:
-Why platform dependency has become one of the most overlooked risks in the trading business?
-Buy vs. build: What do hybrid models look like, and why are industry graveyards filled with failed ‘killer apps’?
-How AI is already changing execution, risk, and reporting—and what’s next?
-Which features, assets, and tools gain the most traction, and where brokers should look for tech-driven retention?
Speakers:
-Stephen Miles, Chief Revenue Officer at FYNXT
-John Morris, Co-Founder at FXBlue
-Matthew Smith, Group Chair & CEO at EC Markets
-Tom Higgins, Founder & CEO at Gold-i
-Gil Ben Hur, Founder at 5% Group
#fmls #fmls25 #fmevents #Brokers #Trading #Fintech #FintechInnovation #TradingTechnology #Innovation
Connect with us at:
🔗 LinkedIn: / financemagnates-events
👍 Facebook: / financemagnatesevents
📸 Instagram: / fmevents_official
🐦 Twitter: / f_m_events
🎥 TikTok: / fmevents_official
Much like their traders in the market, brokers must diversify to manage risk and stay resilient. But that can get costly, clunky, and lengthy.
This candid panel brings together builders across the trading infrastructure space to uncover the shifting dynamics behind tools, interfaces, and full-stack ambitions.
Attendees will hear:
-Why platform dependency has become one of the most overlooked risks in the trading business?
-Buy vs. build: What do hybrid models look like, and why are industry graveyards filled with failed ‘killer apps’?
-How AI is already changing execution, risk, and reporting—and what’s next?
-Which features, assets, and tools gain the most traction, and where brokers should look for tech-driven retention?
Speakers:
-Stephen Miles, Chief Revenue Officer at FYNXT
-John Morris, Co-Founder at FXBlue
-Matthew Smith, Group Chair & CEO at EC Markets
-Tom Higgins, Founder & CEO at Gold-i
-Gil Ben Hur, Founder at 5% Group
#fmls #fmls25 #fmevents #Brokers #Trading #Fintech #FintechInnovation #TradingTechnology #Innovation
Connect with us at:
🔗 LinkedIn: / financemagnates-events
👍 Facebook: / financemagnatesevents
📸 Instagram: / fmevents_official
🐦 Twitter: / f_m_events
🎥 TikTok: / fmevents_official
