CySEC Blacklists IC Markets Clone, Flags Suspicious Trading Websites
Which Websites Did CySEC Identify as Unlicensed?
The Cyprus Securities and platform Commission has issued a new investor warning, naming five websites that are not linked to any entity licensed to provide investment services under Cyprus law. In a notice published on 18 December 2025, the regulator said the domains are not associated with firms authorized under Article 5 of Law 87(I)/2017, the country’s main legal framework governing investment services.
The websites listed in the warning are:
- iffbanc.com
- alpha24pro.com
- futuretradesx.com
- mtbcapitals.com
- icmarkets777.com
CySEC advised investors to consult its official website and register before engaging with any firm claiming to offer investment services in or from Cyprus. Only entities formally listed as licensed are legally permitted to provide such services.
Investor Takeaway
Why Are Warnings Like This Issued So Frequently?
Investor alerts of this kind have become a routine feature of CySEC’s enforcement activity over the past decade. Cyprus hosts a large concentration of EU-regulated retail trading firms operating under the , making it a frequent reference point for platforms targeting European investors.
While CySEC’s notices do not include detailed allegations, the implication is consistent: the listed websites are either operating without authorization or presenting misleading claims about their regulatory status. Similar warning mechanisms are used by regulators across the EU, including Germany’s BaFin, France’s AMF, and Italy’s Consob.
These public lists serve multiple functions. They warn retail investors, provide reference material for banks and payment processors, and support cross-border supervisory coordination. In many cases, warnings are issued later than regulators receive complaints, identify misleading regulatory claims, or detect suspicious online advertising activity.
What Types of Platforms Typically Appear on These Lists?
Based on past enforcement patterns, generally fall into two broad categories.
The first includes unlicensed investment platforms that actively solicit clients while falsely claiming authorization or operating in legal grey zones. These sites often promote forex, CFDs, cryptocurrencies, or “managed” investment products and target clients across multiple jurisdictions using online advertising.
The second category involves clone or look-alike websites. These platforms imitate the branding, naming conventions, or regulatory language of legitimate regulated firms to appear credible. They may use similar domain names, logos, or references to EU regulation that are not backed by any actual license.
One of the domains listed in the latest notice, icmarkets777.com, appears consistent with this pattern. Regulators have repeatedly warned that adding numbers or modifiers to the name of a well-known firm is a common tactic used to mislead investors. Such warnings relate to the unauthorized website itself and do not automatically imply wrongdoing by any legitimate firm with a similar name.
How Do Unauthorized Investment Schemes Typically Operate?
European regulators have documented consistent operational patterns behind unauthorized investment websites. Initial contact often comes through social media ads, messaging apps, cold calls, or unsolicited online promotions promising unusually high returns.
later than onboarding, investors are typically assigned an “account manager” who . Platforms may display fabricated account balances or profits to encourage further funding. When withdrawal requests are made, investors may face repeated delays, additional fees, tax claims, or bonus-related restrictions.
In many cases, communication eventually stops. Regulators have also highlighted the rise of follow-on recovery scams, where fraudsters later pose as regulators, law firms, or asset recovery specialists and request upfront payments to retrieve lost funds.
Investor Takeaway
What Is CySEC Telling Investors to Do?
CySEC continues to stress that investors must independently verify a firm’s authorization before transferring funds or sharing personal information. Its public register lists licensed entities, approved domains, and the specific investment services each firm is permitted to provide.
The regulator has also warned that it does not contact individuals directly regarding investments and does not request payments to recover losses. Any communication claiming to originate from CySEC outside official channels should be treated as suspicious.
