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
Thornwood Financial / Long Will Limited
  • http://www.thornwoodfinancial.com
  • Boiler rooms
09/02/2017
Time Binary
  • http://www.timebinary.com
  • Fraudulent online trading platforms
22/08/2014
Tokai National Partners (www.tnpsecurities.com)
  • http://www.tnpsecurities.com
  • Boiler rooms
27/11/2017
Toronto Sumitomo Trading International (TST International)
  • http://www.tstinternational.com
  • Boiler rooms
07/06/2017
TorOption
  • http://www.toroption.com
  • Fraudulent online trading platforms
16/08/2017
Toshikatsu Group
  • http://www.toshikatsu-group.com
  • Boiler rooms
07/06/2017
Tp-Markets (Hubstone Holdings Ltd)
  • http://www.tp-markets.com
  • Fraudulent online trading platforms
16/08/2017
Trade Invest 90
  • Fraudulent online trading platforms
28/09/2017
Trade24 (Trade 24)
  • http://www.trade-24.com
  • Fraudulent online trading platforms
01/12/2017
Tradershome
  • http://www.tradershome.com
  • Fraudulent online trading platforms
01/10/2019
TradeV
  • http://www.tradev.com
  • Fraudulent online trading platforms
01/12/2017
Trading Technologies Ltd and Consorfx
  • http://www.consorfx.com
  • Fraudulent online trading platforms
18/04/2016
Trendingraphs (Premium Systems)
  • http://www.trendingraphs.com
  • Others
24/10/2019
Trust Online Credit bvba (cloned firm)
  • https://www.trustonlinecreditbvba.com
  • Credit fraud
25/03/2020
TSB Wealth
  • https://paul-smith-94n4.squarespace.com
  • http://www.tsb-wealth.com
  • Boiler rooms
05/11/2018
Union Finances
  • http://www.union-finances.com
  • Credit fraud
06/02/2019
Unique Global Investment (https://ugi.direct )
  • https://ugi.direct
  • Boiler rooms
03/12/2019
VIP Markets
  • http://www.tp-markets.com
  • Fraudulent online trading platforms
16/08/2017
Vipwayzone
  • https://www.vipwayzone.com/
  • Fraudulent online trading platforms
11/07/2019
Wainwright Marks Management
  • http://www.wainwrightmarks.com
  • Boiler rooms
05/11/2018
Waldmann Asset Management / Cardan Limited / Cedan Limited / Grandwic Limited / Leston Limited / Manrich Limited / Mutual Hope Limited / Oxred Limited / Tricorp Limited
  • http://www.waldmann-asset-management.net
  • Boiler rooms
07/11/2016
Wallace Associated Inc.
  • http://www.wallaceassociatesinc.com
  • Boiler rooms
07/11/2016
Warning against new cryptocurrency trading platforms
  • http://www.1st-cryptobank.com
  • http://www.bitc-international.com
  • http://www.boursebitcoin.com
  • http://www.ccg-investment.com
  • http://www.crownmanagers.com
  • http://www.crypto.bnd-group.com
  • http://www.crypto-access.com
  • http://www.cryptofrancecapital.com
  • http://www.cryptorama-bank.com
  • http://www.cryptos-marketplace.com
  • http://www.cryptowallet24.com
  • http://www.e-cryptoney.com
  • http://www.ecrypto-international.com
  • http://www.emarketstrade.com
  • http://www.executivecrypto.com
  • http://www.fair-oakscrypto.com
  • http://www.fast-coin.eu
  • http://www.globalmarkets-group.com
  • http://www.ldc-crypto.com
  • http://www.lgsinvestpartners.com
  • http://www.london-exchange.com
  • http://www.minedecrypto.com
  • http://www.mondial-investissement.com
  • http://www.placementcrypto.com
  • http://www.primecryptobank.com
  • http://www.truetrade-capital.com
  • http://www.vechain-wallet.com
  • http://www.wallet-coins.com
  • Cryptocurrency
04/09/2018
Warrington Shaw
  • https://www.warringtonshaw.com
  • Boiler rooms
08/01/2019
We zijn verenigd
  • https://www.wezijnverenigd.com
  • Credit fraud
25/03/2020
West Pacific Dealers
  • http://www.west-pacific-dealers.com
  • Boiler rooms
05/04/2017
Westward Holdings
  • http://www.westwardholdings.com
  • Boiler rooms
18/08/2017
Wij zijn de oplossing
  • https://www.wij-zijn-de-oplossing.com
  • Credit fraud
25/03/2020
William Paulstern / Camdan Limited
  • http://www.williampaulstern.com
  • Boiler rooms
09/02/2017
Woori Bridgewater Brokerage
  • http://www.wbbmanagement.com
  • Boiler rooms
07/06/2017
Worldwide Financing Group
  • http://www.worldwidefinancinggroup.com
  • Boiler rooms
18/07/2018
www.act-financial-solutions.com (cloned firm)
  • https://www.act-financial-solutions.com
  • Others
20/12/2019
www.actio-prevoyance.com
  • https://www.actio-prevoyance.com
  • Others
20/02/2020
www.central-spot.com (cloned firm)
  • https://www.central-spot.com
  • Others
24/02/2020
www.cesco-invest.com (cloned firm)
  • https://www.cesco-invest.com
  • Others
20/02/2020
www.choices-invest.com
  • http://www.choices-invest.com
  • Others
08/10/2019
www.dif-patrimoine.com (cloned firm)
  • http://www.dif-patrimoine.com
  • Others
23/12/2019
www.financial-liquidity.com (cloned firm)
  • https://www.financial-liquidity.com
  • Others
01/04/2020
www.first-matching.com
  • https://www.first-matching.com/
  • Others
06/11/2019
www.helvea-ltd.com
  • https://www.helvea-ltd.com/
  • Others
14/11/2019
www.index-capital.be
  • http://www.index-capital.be
  • Others
08/10/2019
www.ingroupe-online.com / www.market.online-ingroupe.com (cloned firm)
  • https://www.ingroupe-online.com
  • https://www.market.online-ingroupe.com
  • Others
20/02/2020
www.intesa-gestion.com (cloned firm)
  • https://www.intesa-gestion.com
  • Others
18/02/2020
www.winbankfinance.online (cloned firm)
  • https://www.winbankfinance.online
  • Others
20/02/2020
XFR Financial (Cloned Firm) (E New SP Z.O.O.)
  • http://www.xfr-financial.com
  • Fraudulent online trading platforms
16/08/2017
Yamaguchi Laurentian Securities
  • http://www.ylsinternational.com
  • Boiler rooms
20/09/2018
Zulutoys Ltd, RBOptions and RB Secured Processing Ltd
  • http://www.rboptions.com
  • Fraudulent online trading platforms
18/04/2016