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Forex

Retail Broker

CMS Forex

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Unproved

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Unproved

Closed

CMS Forex

Canada

Founded in

1999 (26 Years)

Founded

Last online: No recent activity

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1.67

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Warning Report

Warning Report is a record of alerts about trading activities, account management, or compliance issues. It helps you keep track of potential risks or problems in your trading account.

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Thg 03 12, 2024

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TrustFinance Intelligence Agency

Research date: Thg 10 14, 2025

The Enforcement Directorate (ED) has provisionally attached assets worth approximately Rs 131.5 crore, including a luxury yacht and properties in Spain, as part of its investigation into the unauthorized forex trading platform OctaFX. The assets belong to Pavel Prozorov, the alleged mastermind of the platform, which defrauded investors by promising high returns and laundering funds through fake e-commerce firms. The investigation revealed that OctaFX generated at least Rs 800 crore from its operations in India within nine months, with funds being siphoned out of the country under the guise of fake imports.

The Enforcement Directorate (ED) has provisionally attached assets worth approximately Rs 131.5 crore, including a luxury yacht and properties in Spain, as part of its investigation into the unauthorized forex trading platform OctaFX. The assets belong to Pavel Prozorov, the alleged mastermind of the platform, which defrauded investors by promising high returns and laundering funds through fake e-commerce firms. The investigation revealed that OctaFX generated at least Rs 800 crore from its operations in India within nine months, with funds being siphoned out of the country under the guise of fake imports.

The Enforcement Directorate (ED) has frozen Rs 170 crore linked to QFX Trade Ltd's alleged fraudulent forex trading scheme. Investigations revealed that the company operated unregulated schemes and misled investors through promises of high returns. The ED conducted searches at various locations and found that QFX had rebranded itself as YFX while continuing its deceptive practices. The investigation uncovered multiple shell companies used to collect funds from investors, leading to the freezing of funds across nearly 30 bank accounts.

The Enforcement Directorate (ED) has frozen Rs 170 crore linked to QFX Trade Ltd's alleged fraudulent forex trading scheme. Investigations revealed that the company operated unregulated schemes and misled investors through promises of high returns. The ED conducted searches at various locations and found that QFX had rebranded itself as YFX while continuing its deceptive practices. The investigation uncovered multiple shell companies used to collect funds from investors, leading to the freezing of funds across nearly 30 bank accounts.

A textile factory owner from Surat was allegedly defrauded of Rs 43.83 lakh in a forex trading scam. The victim, Ankit Vinod Ribadiya, was lured by a group promising high returns on investments. After initially receiving profits, he invested more money but ultimately lost most of it. The police have registered a case and arrested two suspects, with a search ongoing for the others involved.

A textile factory owner from Surat was allegedly defrauded of Rs 43.83 lakh in a forex trading scam. The victim, Ankit Vinod Ribadiya, was lured by a group promising high returns on investments. After initially receiving profits, he invested more money but ultimately lost most of it. The police have registered a case and arrested two suspects, with a search ongoing for the others involved.

Usare, the mastermind behind the fraudulent 'Divine Power Forex Trading' scheme, was arrested in Dehradun after fleeing India. His company promised investors 15% monthly returns, defrauding them of crores. Approximately Rs 8 crore in assets related to the scheme have been recovered. The investigation revealed that Usare and his associates created multiple investment schemes that ultimately collapsed, leaving investors without returns. Following numerous complaints, police registered an FIR and tracked Usare down after he fled to foreign locations. This marks the sixth arrest in connection with the case.

Usare, the mastermind behind the fraudulent 'Divine Power Forex Trading' scheme, was arrested in Dehradun after fleeing India. His company promised investors 15% monthly returns, defrauding them of crores. Approximately Rs 8 crore in assets related to the scheme have been recovered. The investigation revealed that Usare and his associates created multiple investment schemes that ultimately collapsed, leaving investors without returns. Following numerous complaints, police registered an FIR and tracked Usare down after he fled to foreign locations. This marks the sixth arrest in connection with the case.