Erscheinung:11.02.2021 | Topic Unauthorised business deutschebrokerfx.com – BaFin investigates Deutsche Broker FX
In accordance with section 37 (4) of the German Banking Act (Kreditwesengesetz), BaFin wishes to clarify that Deutsche Broker FX has not been granted authorisation to conduct banking business or to provide financial services. The company is not subject to BaFin’s supervision.
Deutsche Broker FX states on its website (www.deutschebrokerfx.com) that it is supervised by BaFin and the Deutsche Bundesbank. This is not the case.
BaFin would also like to point out that any documents with the BaFin logo that are used by Deutsche Broker FX are fake.
The company targets individuals who have suffered losses in connection with Option888 and claims to act in BaFin's name and to repay funds in exchange for a fee that must be paid in advance. BaFin is never involved in such investor repayments.
Anyone conducting banking business or providing financial services in Germany must be authorised to do so under the German Banking Act. However, some companies are conducting such activities without the required authorisation. Information on whether a specific company has been granted authorisation by BaFin is available in the database of companies on the BaFin website.
BaFin, the Federal Criminal Police Office (Bundeskriminalamt) and the Regional Criminal Investigation Offices (Landeskriminalämter) advise investors to exercise the utmost caution and to do the necessary research before investing any money online to avoid becoming the victim of fraud.
