Scamming for Three Years: This Unregulated Dominican FX Broker has New Domains

Deception History with Endless Warnings

The scam's deception history dates back to 2020. In that year, it used the trade name Paragon Finance to scam. And the name was exposed by the Austrian Financial Market Authority (Austria FMA) in the year. Now, the websites (www.paragon-finance.io and www.paragon-finance.cc) warned by the regulators are suspended.

In 2021, the fraud created another three websites and used the trade names - PrimoTrade and Hash Trade. However, the company did not change its address and was still sharing the address in Dominica with Paragon Finance. BrokersView has reported the experiences of the victims swindled by the scammer (PrimoTrade or HashTrade) in that year.

Moreover, of course, the firm's audacious deception caught the attention of forex regulators.

UK FCA has warned both PrimoTrade and HashTrade, noticing the public that they are not authorized to provide financial services in the UK.

What's more, the Italy Commissione Nazionale per le Società e la Borsa (CONSOB) and the Austria FMA also warned HashTrade.

The Dominican Scammer Today

Now, all the websites operated under the names of Praragon Finance, PrimoTrade and HashTrade are inaccessible. However, the fraudster won't stop after tasting the sweetness of deception. The firm is now named Xertz Consulting Ltd, using Equity Broker and InvestCore to continue to walk on its scamming road. At the same time, it has not changed its address. The operating websites include: “https://equity-broker.co/”, “https://investcore.pro/”, “https://investcore.ltd/”.

Nevertheless, the German and the Spanish forex regulators - BaFin and CNMV- have noticed the scam, especially the former one.

BaFin makes it clear that these two traders are associated with each other. And the firm also appears in connection with Paragon Finance and HashTrade.

According to the above information, we can say that this unlicensed Dominican forex broker is still scamming.