The company opens trading accounts for clients on its trading platform profitassist.io. The accounts are supposed to enable clients to trade in forex, shares, indices, commodities and derivatives, in particular CFDs. The company itself acts as counterparty for the trading orders that its clients place through the trading accounts and offers its own prices for this purpose.

In doing so, it is conducting proprietary trading within the meaning of section 1 (1a) sentence 2 no. 4 (c) of the KWG on a commercial basis. Seabreeze Partners Ltd. does not hold authorisation from BaFin, as required under section 32 (1) of the KWG, and is therefore conducting unauthorised business.

Update (9 June 2021):

According to documentation now available to BaFin, customers of the trading platform are being sent German e-mails entitled “Informationen zur Entschädigung von Betrugsopfern (Blockchain LTD)” (Information regarding compensation for fraud victims (Blockchain LTD)), in which they are called on to make payments for alleged commission and tax claims. Despite appearances to the contrary, these e-mails have not been sent by the British Financial Services Compensation Scheme (FSCS); any such notifications bearing the logo of the FSCS are fakes. BaFin wishes to clarify that the FSCS does not send out payment requests of this kind.

Update (30 June 2021):

There are indications that Seabreeze Partners Ltd. is also operating an online trading platform via the website maxiplus.trade. The prohibition order issued on 19 April 2021 extends to this website and to any other websites used by Seabreeze Partners Ltd. to target investors resident in Germany in order to offer them services requiring authorisation.

Update (9 August 2021):

BaFin has become aware that Seabreeze Partners Ltd. is also operating the online trading platform simpleway.trade without authorisation.

Update (7 October 2021):

BaFin has received information that employees of the platform maxiplus.trade have been sending out a fake BaFin “trading licence” to those interested. This document states that Maxis GBN has been granted a licence to carry out broking activities. BaFin wishes to make it clear that it does not issue documents of this kind. BaFin issued a warning regarding such fake trading licences on its German website on 15 September 2021.

Update (8 October 2021):

BaFin has received reports that Seabreeze Partners Ltd. is also responsible for the online trading platform igfb.one.

Update (19 Novemberr 2021):

BaFin has become aware that a fake printout from BaFin’s database of companies is allegedly made available to investors in connection with the online trading platform simpleway.trade. It pretends that ‘SimpleWay’ has been notified under section 74 of the WpIG.