List of companies operating unlawfully in Belgium

The Financial Services and Markets Authority (FSMA) has, on several occasions, warned the public against the activities of various companies that are operating unlawfully in Belgium. This list comprises all those companies that have been the subject of a warning in the course of the past four years.

The list includes:

  • companies that offer, in or from Belgium, financial services and products without complying with Belgian financial legislation (no authorization / failure to publish a prospectus / etc.);
  • companies about which, in addition to any infringements of the financial legislation and regulations the FSMA supervises, the latter has identified serious evidence of investment fraud;
  • companies behind 'recovery room' fraud.

This list cannot be considered as exhaustive.

Company namesort descending Website Type of fraude Date
365 Markets (Trustnet Ltd)
  • https://www.365markets.com
  • Companies offering binary options / forex products / CFD / other derivatives
19/02/2019
Aaoption / CFDStocks / Pacific Sunrise UK Ltd
  • http://www.aaoption.com
  • http://www.cfdstocks.com
  • Companies offering binary options / forex products / CFD / other derivatives
23/03/2017
Aaron Brett
  • http://www.aaronbrett.com
  • Boiler rooms
05/11/2018
ADEF
  • Recovery rooms
26/07/2016
Aichi BMO International (ABMOI) / Leiyu Trade Limited / GHY Partners Limited
  • http://www.ai-international.com
  • Boiler rooms
05/04/2017
Akanagi group (www.akanagi-group.com)
  • http://www.akanagi-group.com
  • Boiler rooms
27/09/2017
Akita Matsui Trading
  • http://www.amtrading-corp.com
  • Boiler rooms
18/07/2018
Alfa One Corporation, The Southwood Group and Micron Associates
  • http://www.alfaonecorporation.com
  • http://www.thesouthwoodgroup.com
  • http://www.micronassociates.com
  • Boiler rooms
04/05/2016
Amicus Investment
  • http://www.amicusinvest.com
  • Boiler rooms
09/02/2017
Apex Alliance
  • http://www.apex-alliance.com
  • Boiler rooms
05/04/2017
Apex Equities, South-East Asia Traders and South-East Asia Registrar
  • http://www.southeastasiatraders.com
  • http://www.southeastasiatraders.com
  • http://www.sea-registrar.com
  • Boiler rooms
04/05/2016
Asahi Marusan Management
  • http://www.ammsecurities.com
  • Boiler rooms
20/09/2018
Asashi Mergers & Acquisitions Group
  • http://www.asashima.com
  • Boiler rooms
09/02/2017
Ashcroft Cohen Strategic Capital (ACSC)
  • https://acscinc.com
  • Boiler rooms
08/01/2019
Ashida Associates (www.ashidaassociates.com)
  • http://www.ashidaassociates.com
  • Boiler rooms
27/11/2017
Ashton whiteley (www.ashtonwhiteley.com)
  • http://www.ashtonwhiteley.com
  • Boiler rooms
27/09/2017
Asia Associates
  • http://www.asiaassociates.com
  • Boiler rooms
08/01/2019
Asia Pacific Brokerage Services Limited
  • http://www.asia-pacific-brokerage.com
  • Boiler rooms
04/05/2016
Asterix Bank
  • http://www.asterixbank.com
  • Credit fraud
29/07/2019
ATB Holdings (www.atbholdings.com)
  • http://www.atbholdings.com
  • Boiler rooms
27/09/2017
Athos International Management BVBA
  • Others
15/06/2016
Athos International Management BVBA - “Eagle Crest Insurance” - “Eagle Crest Underwriter”
  • Others
18/02/2016
Atlantic Capital Management
  • http://www.atlantic-capital.net
  • Recovery rooms
29/09/2017
Atlantic Finance
  • Credit fraud
13/05/2016
Atlantic Global Asset Management
  • http://www.atlanticgam.es
  • Boiler rooms
09/02/2017
Avallon Patrimoine
  • Others
06/10/2017
Banque Investissement
  • http://www.banque-investissement.com
  • Companies offering binary options / forex products / CFD / other derivatives
18/04/2016
Be wary of investment fraud!
  • http://www.jt-europe.com
  • https://www.gbe-capital.com/
  • Others
01/03/2019
Be wary of investment offers made through social media
  • Others
30/09/2019
BECFD
  • https://www.becfd.com/
  • Companies offering binary options / forex products / CFD / other derivatives
10/09/2018
Bellmore Group
  • http://www.bellmoregroup.com
  • Boiler rooms
18/08/2017
Benedict Morris / BMBOption / Log Trading Capital Ltd
  • http://www.bmboption.com
  • Companies offering binary options / forex products / CFD / other derivatives
23/03/2017
BigOption / Wirestech Limited
  • http://www.bigoption.com
  • Companies offering binary options / forex products / CFD / other derivatives
23/03/2017
Binary options: the FSMA warns the public against several actors operating unlawfully within the territory of belgium
  • Companies offering binary options / forex products / CFD / other derivatives
01/10/2019
Binary options: the FSMA warns the public against several actors operating unlawfully within the territory of Belgium
  • Companies offering binary options / forex products / CFD / other derivatives
11/07/2019
Binarynvest
  • http://www.binarynvest.com
  • Companies offering binary options / forex products / CFD / other derivatives
23/03/2017
Bis Europe
  • Credit fraud
22/09/2017
Blonde Bear OU (TRADEDAX)
  • http://www.tradedax.com
  • Companies offering binary options / forex products / CFD / other derivatives
10/09/2018
Blue Hill Capitals
  • Boiler rooms
03/12/2019
Boiler rooms: the FSMA warns the public against unauthorized activities
  • Boiler rooms
20/09/2018
Bow Financial
  • http://www.bowfinancial.com
  • Boiler rooms
04/05/2016
Brevan Invest / Kasuar Ventures Ltd
  • http://www.brevan-invest.com
  • Companies offering binary options / forex products / CFD / other derivatives
23/03/2017
Broker Financial Ltd / Invest-Option
  • http://www.invest-option.com
  • Companies offering binary options / forex products / CFD / other derivatives
09/08/2016
Brookfield99 / Brookfield Investment Management (cloned firm)
  • http://www.brookfield99.com
  • Boiler rooms
09/02/2017
Burton Mills
  • http://www.burtonmills.com
  • Boiler rooms
15/03/2018
Capital Epargne
  • http://www.capital-epargne.com
  • Companies offering binary options / forex products / CFD / other derivatives
23/03/2017
Capital Invest Europe
  • http://www.capitalinvesteurope.com
  • Boiler rooms
09/02/2017
Capital Pilots
  • http://www.capitalpilots.com
  • Others
24/10/2019
CapitalCourtage, Eich Invest Ltd, 10 Spheres Media Ltd and First Consulting SCS
  • http://www.capitalcourtage.com
  • Companies offering binary options / forex products / CFD / other derivatives
18/04/2016
Carmann, Reed, Edwards Associates Lawyers / Tunner Grant & Associates / Carmann Consultancy Services
  • Recovery rooms
07/11/2016

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