Attention: ForTrade Statement on Invest365 Broker Scam Clarified
Overview
ForTrade is a brokerage brand operated by multiple legal entities regulated by well-known authorities, including the UK FCA, Cyprus CySEC, and Australia’s ASIC. Alongside its regulated operations, the ForTrade Group also maintains offshore entities in jurisdictions such as Belarus and Mauritius, as previously reported by Scam-Or Project.
In March 2022, Germany’s BaFin issued a public warning regarding the broker Invest365 and LLC Fort Securities BLR. Following further communication with ForTrade, BaFin updated its statement on March 16, 2022, clarifying that the ForTrade Group was not connected to the Invest365 scam. Instead, the case was classified as identity misuse. Below is a structured update reflecting this clarification.
ForTrade Key Data
| Category | Details |
|---|---|
| Brand | Fortrade Group |
| Related Brands | Forex Time, FXTM, ForTrade, TorexFX, FX Trade Premium, Invest365 (identity theft), GloryFT (disputed), Alpari (disputed) |
| Related Domains | www.alpari.com, www.alpari.org, www.alpari-broker.ru, www.alpari.im (connection denied by ForTrade); www.fxtm.com; www.fortrade.com; https://pro.fortrade.com; www.forextime.com; www.torexfx.com; https://invest365.global (identity misuse); https://gloryft.com (disputed) |
| Legal Entities | Fortrade Cyprus Ltd (Cyprus); Fortrade Limited (UK); Fort Securities Israel Limited (Israel); Fort Securities Australia Pty. Ltd (Australia); ForTrade Canada Limited (Canada); FT Invest Ltd (Seychelles); FT Global Services Ltd; Exinity Ltd (Mauritius); Exinity UK Ltd (UK); LLC “Fort Securities BLR” (Belarus); Alpari Limited (Russia); Alpari Limited (SVG); Alpari Evrasia LLC (Belarus) |
| Jurisdictions | UK, Cyprus, Belarus, Russia, Israel, Seychelles, Mauritius, Canada |
| Regulators | FCA, CySEC, FSA Seychelles, FSC Mauritius, Bank of Russia, National Bank of Belarus |
| Warnings Issued By | CNMV, FCA, FCA, BaFin |
Updated Narrative
Shortly after BaFin released its updated notice, ForTrade contacted Scam-Or Project through the law firm Michael Kyprianou Advocates (www.kyprianou.com), referencing the regulator’s revised position. The communication requested that previously published materials be corrected to reflect that the ForTrade Group was not involved in the Invest365 operation.
Scam-Or Project acknowledges this update and informs readers accordingly.
The Invest365 scheme, similar to other questionable platforms such as GloryFT and FXTradePremium, has since disappeared from active operation and is no longer accessible.
Ongoing Disputes
Despite the clarification regarding Invest365, certain disagreements remain unresolved between Scam-Or Project and the ForTrade Group. These relate primarily to:
- The alleged links between the ForTrade Group and the Alpari Group
- The suspected connection between ForTrade and the now-defunct Russian broker GloryFT
ForTrade maintains that any association with GloryFT is also a case of identity misuse. However, prior to its shutdown, independent testing conducted over several weeks revealed notable inconsistencies:
- Users registering with GloryFT were redirected directly to the website of CySEC-regulated ForTrade
- A Russian-language welcome email was received from the CySEC-regulated ForTrade following registration
These findings were formally communicated to ForTrade. At the time of writing, no detailed response has been provided. Scam-Or Project will continue monitoring the situation and report any new developments.
Share Information
If you possess relevant information regarding ForTrade or associated entities that could assist in building a more complete profile of this global brokerage network, you are encouraged to submit it via the Scam-Or Project whistleblower section.
