The Spanish financial regulator CNMV has issued a public warning against the fraudulent online broker operating under the names TraderbrokerFX and TraderbrokerX. The scam claims to be run by a company called TraderbrokerFX Limited, but no such legal entity could be verified.
Victims report being lured into making crypto deposits via Coinsdrom, a payment processor operated by Clearcrest Inc. UAB, a Lithuanian-registered crypto service provider. In addition to crypto, victims can also be defrauded via credit and debit card payments, which appear to be processed through PLUFY LTD PVT, doing business as Candlestick Academy, based in Nigeria.
🔍 Scam Pattern
As with many white-label broker scams, TraderbrokerFX and its clone TraderbrokerX have no credible history or operational transparency. These scams are often hastily assembled, aggressively promoted, and then vanish—taking all deposited funds with them.
This is just one in a long line of similar operations designed to extract funds quickly and disappear. The involvement of international crypto and card payment processors helps obscure money flows and makes recovery nearly impossible.
⚠️ What You Should Do
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Do not engage with TraderbrokerFX, TraderbrokerX, or any affiliated payment sites.
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Do not send funds via crypto or card to any platform you cannot fully verify.
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Warn others who may be approached by these scams.
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Report any contact or information about these operators through our confidential whistleblower system: Whistle42.
Let’s work together to expose these fraudulent networks and prevent others from falling victim.