BaFin Flags 5 Unauthorised Financial Platforms for Consumer Risk

Surge in Unlicensed Online Services

Germanys financial regulator, the Federal Financial Supervisory Authority (BaFin), has issued fresh warnings against five websites allegedly offering unauthorized financial and crypto-related services to the public. These platforms—fxmiracles.com, aktiennetwork.co.uk, europromarkets.net, zfstiftung.de, and consorsglobal.com—have been operating without the licenses required under German law.

According to BaFin, these firms promote investment and crypto products while lacking regulatory approval, violating both the German Banking Act (KWG) and the Cryptomarkets Supervision Act (KMAG).

The Five Websites Under Scrutiny

1. FxMiracles Inc. / fxmiracles.com

The company is suspected of offering financial and investment services without authorization. It also appears linked to other blacklisted domains previously flagged by BaFin.

2. Aktien Network / aktiennetwork.co.uk

After deactivating their earlier sites (aktiennetwork.net and aktiennetwork.uk), the same operators re-emerged using the .co.uk domain. These websites allegedly promote unlicensed investment and crypto services to German users.

3. Euro Pro Markets / europromarkets.net

This domain replaced europromarkets.com, which was previously deactivated following BaFins intervention. The newly identified site is under suspicion for similar unauthorized financial service offerings.

4. ZukunftsFinanz Stiftung / zfstiftung.de

This so-called foundation promoted investment advice via WhatsApp groups, posing as a Frankfurt-based institution. BaFin confirmed that neither the organization nor its claimed representative, “Dr Max Becker,” holds any valid license to provide financial services in Germany.

5. ConsorsGlobal / consorsglobal.com

The entity claims to be regulated by a fictional “Financial Certification Organization” and is allegedly operated by Netming Limited, a now-dissolved UK company previously linked to foxmngt.com and viennacapai.com—both of which have also faced BaFin warnings.

Understanding the Warning

These warnings highlight a broader trend of unauthorized financial entities attempting to build trust through professional-looking websites, fake credentials, and aggressive marketing. Once flagged, these operators often reappear under new domains, continuing their activities with slight changes in branding.

Under German law, any firm offering financial, investment, or crypto-asset services must obtain proper authorisation from BaFin. Consumers dealing with unlicensed firms risk losing access to protections like complaint mechanisms or compensation in the event of fraud.

Reminder to the Public

Before engaging in any financial transaction, its essential to verify whether the platform is authorised by local financial regulators. To help users assess the qualifications of a platform, tools like WikiFX, an all-in-one broker information platform, can be used to quickly verify regulatory status and reduce potential risks.