Offshore Broker VT Markets Facilitated by Cyprus-Based Payment Processor Payabl
Until 2021, the Bank of Cyprus-regulated payment institution Payabl operated under the name PowerCash21. This high-risk payment processor, founded by former Wirecard executives Dietmar Knoechelmann and Ruediger Trautmann, specializes in porn, gambling, and online trading. According to Similarweb analytics, one of Payabl’s apparent clients is the offshore broker VT Markets. Notably, in August 2021, the Spanish regulator issued a warning against VT Markets.
Payabl and VT Markets
Similarweb Statistics for VT Markets
Payabl appears to operate a hosted payment processing server under the subdomain:
➡ https://pay4.powercash21.com
Similarweb analytics show that nearly 18% of VT Markets’ 140,000+ monthly visitors access the website via Payabl.
Analyzing VT Markets’ website traffic (www.vtmarkets.com) reveals that at least 60% of visitors originate from the EEA region, despite the broker lacking authorization to operate in this jurisdiction. Moreover, nearly half of VT Markets’ customers process payments through PowerCash21 (Payabl).
VT Markets holds regulatory licenses in Australia (ASIC) and South Africa (FSCA) but lacks the necessary authorization to offer financial products to clients in the EEA region.
➡ Read our full reports on VT Markets here.
Share Your Information
If you have any details about VT Markets, Payabl, or their partners, please share them through our whistleblower platform, Whistle42.
