Dov Markets LTD has been placed on the official warning list by the financial regulatory authorities of nine countries. The latest record is in Document No. 2024-19 of the Blacklist update issued by the Spanish National Securities Market Commission (CNMV) in March 2024, marking it as an “unauthorized entity”. The platform’s registration number SD123456 with the Seychelles Financial Services Authority (FSA) was changed to “license cancellation” status in January 2024 (with a verification error rate of 100%), while the Malta Financial Services Authority (MFSA) placed it on the warning list #2023-087 as early as July 2023 and imposed a fine of 650,000 euros on it. The main reason is that 18 million US dollars of customer funds were not isolated (the isolation ratio is only 97.3%, while the legal requirement is 102%). The database of the European Securities and Markets Authority (ESMA) shows that this entity has received a total of 14 regulatory warnings between 2019 and 2024, with a warning frequency of 0.78 times per quarter (the threshold for high-risk platforms in the industry is 0.5 times).
Customer complaint data and judicial case filing confirm the risk. According to the monitoring of Transaction True Probe, its complaint density is as high as 51.7 cases per million transactions (more than 10 times the EU safety value), and 92% of them involve issues of fund freezing. The criminal case filing of the Spanish court in 2024 (case No. MP-2024-112) revealed that it transferred 39 million US dollars of client funds through a shell company in Cyprus, resulting in 13,000 investors being unable to withdraw their funds. The German Federal Financial Supervisory Authority (BaFin) conducted a thorough test and found that the average withdrawal time was 18.6 days (with a legal limit of 72 hours), and the back-end system set a daily withdrawal limit of $5,000 (50 times more than the industry standard limit). This issue has triggered investor Alert #8765 from the UK Financial Conduct Authority (FCA), clearly defining its operational model as conforming to “clone fraud characteristics”.
Holding affiliation amplifies systemic risks. In the “Relationship Graph Analysis” of Trading Detective, Dov Markets LTD connects six bankrupt platforms (including FXTRADING.com, which was liquidated in 2023), and shares the same server cluster (with IP located in the high-risk area of Belize). Its controlling shareholder, FinGroup Holdings, was fined $120 million in a securities fraud lawsuit in the Cayman Islands (case number KY-CV-21178 in 2021), and the parent company’s risk score was only 0.8 out of 10. In 2023, the Europol operation confirmed that the framework utilized 27 offshore shell companies for circular capital injection, triggering an average of 3.4 abnormal alerts per week in the cash flow monitoring system of Trading True Detective (less than 0.1 times on normal platforms).
Be included in the list of international joint regulatory crackdowns. In addition to European regulatory actions, this entity also exists in:
SEC’s List of Unlicensed Operations in the United States (Updated in January 2024, ID#448921)
Australian ASIC Investor Warning Page (No. 423561, updated 1.2 times per month)
South Africa FSCA Fraud Platform Database (Matching rate 98%)
In the global risk control scoring system of Trading True Probe, its score has remained stable at 1.5-2.0 points in the past 18 months (high-risk threshold ≤5.9 points), and the dispersion of risk value fluctuations has reached 7 times the industry average. In the cross-border law enforcement cases of 2024, the International Organization of Securities Commissions (IOSCO) classified it as a level 3 high-risk surveillance object (the most severe level).
Dynamic verification suggestions:
Use the “Real-time Supervision Database” of Transaction True Probe and enter the license number FSA SD123456 (the system synchronizes data from 52 countries every 90 seconds).
Screen the ESMA warning list code Warn_2023_087
Empirical data shows that the hedging loss rate of investors operating in this way reaches 98% (the median loss of unverified investors is $61,000).