Spain’s financial watchdog has flagged over a dozen entities, including shady YouTube and Telegram accounts pushing suspicious crypto schemes.
The list also includes Vida Markets, a South Africa-licensed CFDs broker.
Spain’s financial market regulator has added more than a dozen new names to its warning list, including the YouTube and Telegram channel of one influencer, “Crypto Victor”. However, with only a handful of social followers, the influencer appears to be a knockoff of another popular crypto figure on the internet.
Pushing Money Multiplication Schemes
The “Crypto Victor” account flagged by the Comisión Nacional del Mercado de Valores (CNMV) has only 70 followers on YouTube and 532 subscribers on Telegram. However, the YouTube channel has just two videos available. While the YouTube channel was created in 2015, the Telegram channel has existed since September 2020.
Both the YouTube and Telegram accounts of “Crypto Victor” focus on one thing, as suggested by a message in its Telegram bio (translated from Spanish): “If you have WorldCoins and want to multiply them... you've come to the right place.”
The Telegram channel contains multiple screenshots of customer chats and examples of how they have multiplied their WorldCoins, which appears very suspicious. A message posted earlier this month on the Telegram channel also claims that “Crypto Victor” is a “verified, licensed stockbroker,” the authenticity of which is highly questionable. Furthermore, no licence number or jurisdiction where it is regulated is mentioned.
Now, the CNMV's warning against this channel confirms that the account is offering shady services.
A screenshot of Crypto Victor's Telegram channel
A Regulated Name in the List
The warning also listed 18 other names, most of which appear to be fraudulent websites claiming to offer forex and cryptocurrency trading services. However, the inclusion of Vida Markets, a contracts for differences (CFDs) broker regulated in South Africa, drew additional attention.
Finance Magnates reached out to Vida Markets but had not received a response at the time of publication.
However, it is not unusual for brokers regulated in one jurisdiction to be flagged by authorities in another. This generally happens when brokers promote their products or accept clients in countries where they are not licensed and where local authorisation is required, often triggering regulatory warnings.
“According to CNMV records, these institutions are not registered in the corresponding registry of this Commission and, therefore, are not authorised to provide investment services or other activities subject to the CNMV’s supervision,” the Spanish regulator’s warning list stated.
Spain’s financial market regulator has added more than a dozen new names to its warning list, including the YouTube and Telegram channel of one influencer, “Crypto Victor”. However, with only a handful of social followers, the influencer appears to be a knockoff of another popular crypto figure on the internet.
Pushing Money Multiplication Schemes
The “Crypto Victor” account flagged by the Comisión Nacional del Mercado de Valores (CNMV) has only 70 followers on YouTube and 532 subscribers on Telegram. However, the YouTube channel has just two videos available. While the YouTube channel was created in 2015, the Telegram channel has existed since September 2020.
Both the YouTube and Telegram accounts of “Crypto Victor” focus on one thing, as suggested by a message in its Telegram bio (translated from Spanish): “If you have WorldCoins and want to multiply them... you've come to the right place.”
The Telegram channel contains multiple screenshots of customer chats and examples of how they have multiplied their WorldCoins, which appears very suspicious. A message posted earlier this month on the Telegram channel also claims that “Crypto Victor” is a “verified, licensed stockbroker,” the authenticity of which is highly questionable. Furthermore, no licence number or jurisdiction where it is regulated is mentioned.
Now, the CNMV's warning against this channel confirms that the account is offering shady services.
A screenshot of Crypto Victor's Telegram channel
A Regulated Name in the List
The warning also listed 18 other names, most of which appear to be fraudulent websites claiming to offer forex and cryptocurrency trading services. However, the inclusion of Vida Markets, a contracts for differences (CFDs) broker regulated in South Africa, drew additional attention.
Finance Magnates reached out to Vida Markets but had not received a response at the time of publication.
However, it is not unusual for brokers regulated in one jurisdiction to be flagged by authorities in another. This generally happens when brokers promote their products or accept clients in countries where they are not licensed and where local authorisation is required, often triggering regulatory warnings.
“According to CNMV records, these institutions are not registered in the corresponding registry of this Commission and, therefore, are not authorised to provide investment services or other activities subject to the CNMV’s supervision,” the Spanish regulator’s warning list stated.
Arnab is an electronics engineer-turned-financial editor. He entered the industry covering the cryptocurrency market for Finance Magnates and later expanded his reach to forex as well. He is passionate about the changing regulatory landscape on financial markets and keenly follows the disruptions in the industry with new-age technologies.
In this conversation, we sit down with Drew Niv, CSO at ATFX Connect and one of the most influential figures in modern FX.
We speak about market structure, the institutional view on liquidity, and the sharp rise of prop trading, a sector Drew has been commenting on in recent months. Drew explains why he once dismissed prop trading, why his view changed, and what he now thinks the model means for brokers, clients and risk managers.
We explore subscription-fee dependency, the high reneging rate, and the long-term challenge: how brokers can build a more stable and honest version of the model. Drew also talks about the traffic advantage standalone prop firms have built and why brokers may still win in the long run if they take the right approach.
In this conversation, we sit down with Drew Niv, CSO at ATFX Connect and one of the most influential figures in modern FX.
We speak about market structure, the institutional view on liquidity, and the sharp rise of prop trading, a sector Drew has been commenting on in recent months. Drew explains why he once dismissed prop trading, why his view changed, and what he now thinks the model means for brokers, clients and risk managers.
We explore subscription-fee dependency, the high reneging rate, and the long-term challenge: how brokers can build a more stable and honest version of the model. Drew also talks about the traffic advantage standalone prop firms have built and why brokers may still win in the long run if they take the right approach.
Executive Interview | Remonda Z. Kirketerp Møller| CEO & Founder Muinmos | FMLS:25
Executive Interview | Remonda Z. Kirketerp Møller| CEO & Founder Muinmos | FMLS:25
In this interview, Remonda Z. Kirketerp Møller, founder of Muinmos, breaks down the state of AI in regtech and what responsible adoption really looks like for brokers. We talk about rising fragmentation, the pressures around compliance accuracy, and why most firms are still in the early stages of AI maturity.
Ramanda also shares insights on regulator sandboxes, shifting expectations around accountability, and the current reality of MiCA licensing and passporting in Europe.
A concise look at where compliance, onboarding, and AI-driven processes are heading next.
In this interview, Remonda Z. Kirketerp Møller, founder of Muinmos, breaks down the state of AI in regtech and what responsible adoption really looks like for brokers. We talk about rising fragmentation, the pressures around compliance accuracy, and why most firms are still in the early stages of AI maturity.
Ramanda also shares insights on regulator sandboxes, shifting expectations around accountability, and the current reality of MiCA licensing and passporting in Europe.
A concise look at where compliance, onboarding, and AI-driven processes are heading next.
In this conversation, we speak with Aydin Bonabi, CEO and co-founder of Surveill, a firm focused on fraud detection and AI-driven compliance tools for financial institutions.
We start with Aydin’s view of the Summit and the challenges brokers face as fraud tactics grow more complex. He explains how firms can stay ahead through real-time signals, data patterns, and early-stage detection.
We also talk about AI training and why compliance teams often struggle to keep models accurate, fair, and aligned with regulatory expectations. Aydin breaks down what “good” AI training looks like inside a financial environment, including the importance of clean data, domain expertise, and human oversight.
He closes with a clear message: fraud is scaling, and so must the tools that stop it.
In this conversation, we speak with Aydin Bonabi, CEO and co-founder of Surveill, a firm focused on fraud detection and AI-driven compliance tools for financial institutions.
We start with Aydin’s view of the Summit and the challenges brokers face as fraud tactics grow more complex. He explains how firms can stay ahead through real-time signals, data patterns, and early-stage detection.
We also talk about AI training and why compliance teams often struggle to keep models accurate, fair, and aligned with regulatory expectations. Aydin breaks down what “good” AI training looks like inside a financial environment, including the importance of clean data, domain expertise, and human oversight.
He closes with a clear message: fraud is scaling, and so must the tools that stop it.
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
Executive Interview | Jas Shah | FMLS:25
Executive Interview | Jas Shah | FMLS:25
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.
