9.5/10
Alliance Limited
ASIC's January 2021 crypto scam alert says Alliance Limited's website misleads crypto investors, shows ASIC's logo, and that consumers could not get their money back after investing.
Crypto / Forex Scam
Crypto / Forex Scams: Risk Reports & Red Flags
Risk reports for this kind of scam, with the red flags that show up most often.
Short answer
Check a suspected crypto / forex scam by matching the name and domain against a risk report, then the red flags below, before you pay, deposit, or share a login code. There are 28 reports in this category, sorted by risk score with the highest first.
Each report states a 0 to 10 risk score, a status, and what to do if you already engaged. Browse every category from the scam directory.
Risk reports
- 9.5/10
NanoBit
In September 2024 the SEC charged NanoBit Limited and others over an alleged fake crypto trading platform promoted in WhatsApp groups, alleging investors lost funds sent to overseas accounts.
- 9.5/10
Yepbit and Yepbit Exchange
ASIC warns against dealing with Yepbit and Yepbit Exchange after reports that investors cannot withdraw funds, and says the firm's claim that ASIC froze funds is false.
- 9.0/10
appasiccoin.org
ASIC warned in October 2022 that appasiccoin.org uses crypto to scam Australians and falsely claims ASIC endorsement. ASIC's advice is not to invest in the product.
- 8.5/10
Alis Capital Inc.
The CFTC added Alis Capital Inc. to its RED List in July 2022 as an entity that is not registered with the Commission but appears to be acting in a capacity that requires registration. Treat it as unregistered and high risk.
- 8.5/10
Bit-Finance
BCSC warned on 2021-07-09 that Bit-Finance (bit-finance.io), which says it is UK-based and offers forex, commodity, stock index and crypto trading accounts, is not registered to trade or advise in BC.
- 8.5/10
Bitwaxtrade
BCSC warned on 2021-10-13 that Bitwaxtrade (bitwaxtrade.net), claiming a New Zealand base and a Liverpool, UK office, offers crypto and forex accounts and is not registered to trade or advise in BC.
- 8.5/10
CreditEUBank
BCSC warned on 2021-07-06 that CreditEUBank (crediteubank.com) claims to offer investment plans for trading cryptocurrencies, accepts BC clients and is not registered to trade or advise in BC.
- 8.5/10
Cryptobase
BCSC warned on 2021-07-27 about Cryptobase (cryptobase.team), which claims to be based in the UK and US and to offer crypto mining and trading investment plans, and is not registered to trade or advise in BC.
- 8.5/10
Cryptospair
BCSC warned on 2023-03-23 that Cryptospair, at Cryptospair.com, presents itself as an online crypto trading platform, accepts BC residents and is not registered in BC to trade in or advise on securities or derivatives.
- 8.5/10
CSE
BCSC warned on 2023-11-22 that cseso.com, trading as CSE, runs a crypto trading platform for BC residents without exchange recognition or dealer registration. It says CSE has no relation to the Canadian Securities Exchange.
- 8.5/10
Digital FX Market
BCSC warned on 2021-10-13 that Digital FX Market (digitalfxmarket.com), claiming to be based in Toronto, Ontario and to offer crypto and forex accounts, is not registered to trade or advise in BC.
- 8.5/10
FXBrew
The CFTC added FXBrew to its RED List in July 2022 as an entity that is not registered with the Commission but appears to be acting in a capacity that requires registration. Treat it as unregistered and high risk.
- 8.5/10
m.bit-support-gemini.com
BCSC warned on 2024-08-23 about m.bit-support-gemini.com, a site claiming to run a crypto trading platform for BC residents without recognition or registration. The notice says it has no relation to Gemini Trust Company, LLC.
- 8.5/10
Platinumx Trade
BCSC warned on 2021-08-16 that Platinumx Trade (platinumxtrade.com), which says it is US-based and offers crypto trading investment plans, accepts BC clients and is not registered to trade or advise in BC.
- 8.5/10
Prime Crypto FX
The CFTC added Prime Crypto FX to its RED List in July 2022 as an entity that is not registered with the Commission but appears to be acting in a capacity that requires registration. Treat it as unregistered and high risk.
- 8.5/10
ProfitsTrade Ltd.
BCSC warned on 2021-07-27 that ProfitsTrade Ltd. (profitstrade.com), claiming to be in Dominica and to offer forex, index, crypto and commodity accounts, is not registered to trade or advise in BC.
- 8.5/10
SageFX
The CFTC added SageFX to its RED List in July 2022 as an entity that is not registered with the Commission but appears to be acting in a capacity that requires registration. Treat it as unregistered and high risk.
- 8.5/10
SPX Markets
BCSC warned on 2021-07-28 that SPX Markets (spxmarkets.com), claiming to be UK-based with crypto, stock, commodity and forex trading accounts, is not registered to trade or advise in BC.
- 8.5/10
Trade the Bit
BCSC warned on 2021-09-14 that Trade the Bit (tradethebit.com), offering accounts for stocks, crypto, forex, indices and commodities, accepts BC clients and is not registered to trade or advise in BC.
- 8.5/10
Wolves Trade FX
The CFTC added Wolves Trade FX to its RED List in July 2022 as an entity that is not registered with the Commission but appears to be acting in a capacity that requires registration. Treat it as unregistered and high risk.
- 7.0/10
Astro CryptoFX Trade (www.astrocrypttrade.online)
The FCA has warned that Astro CryptoFX Trade (www.astrocrypttrade.online) is not authorised and may be offering financial services in the UK without permission. Avoid dealing with it and check any firm on the FCA Register first.
- 7.0/10
BVX
BCSC lists BVX (bvxtrade.com) on its Investment Caution List, entry dated 2025-07-21, saying the company is not registered with the BCSC and urging extreme caution before sending any money.
- 7.0/10
EQXE
BCSC lists EQXE (eq-xe.io) on its Investment Caution List, entry dated 2025-07-28, stating the company is not registered with the BC Securities Commission and advising extreme caution before sending money.
- 7.0/10
FOREX COIN INVESTMENT
The FCA has warned that FOREX COIN INVESTMENT is not authorised and may be offering financial services in the UK without permission. Avoid dealing with it and check any firm on the FCA Register first.
- 7.0/10
Forex-gpt.com
The FCA has warned that Forex-gpt.com is not authorised and may be offering financial services in the UK without permission. Avoid dealing with it and check any firm on the FCA Register first.
- 7.0/10
The Crypto Invest
The FCA has warned that The Crypto Invest is not authorised and may be offering financial services in the UK without permission. Avoid dealing with it and check any firm on the FCA Register first.
- 7.0/10
VXBANC
BCSC lists VXBANC (vxbanc.com) on its Investment Caution List, entry dated 2025-08-13, stating the company is not registered with the BC Securities Commission and advising extreme caution before paying anything.
Common red flags in this category
The 8 most common flags reported for this category.
- Not registered with the CFTC despite offering forex or binary options style trading to US customers (per the CFTC)
- Based offshore with limited verifiable ownership or address details
- Unsolicited contact promising high or guaranteed trading returns
- Pressure to deposit quickly, often by crypto or wire transfer
- Difficulty withdrawing funds once a balance appears on the platform
- The BCSC states it is not registered to trade in, or advise on, securities or derivatives in BC
- The BCSC says it is not registered to trade in, or advise on, securities or derivatives in BC
- Accepts British Columbia residents as clients