It is one thing to be an offshore broker and actually hold a license from a place such as Belize, Mauritius, St Vincent & The Grenadines, Vanuatu, or the British Virgin Islands.

It is a another thing entirely to pretend you have one.

Belize’s financial regulator IFSC has issued a warning regarding an entity called Coventus Group, operating website coventusgroup.com. The website, which offers CFD trading to retail customers, claims to hold a variety of licenses including  by Cyprus regulator CySEC (license number 149/26), the IFSC (license # 53/182/TS/20), and Mauritius’ Financial Services Commission (license number C254937583).

However all these license claims are fake, with the IFSC reporting that Coventus Group is not licensed under the IFSC Act to provide, carry on, transact, or hold itself out as providing, carrying on, or transacting any of the international financial services as set out in the Schedule of the IFSC Act in or from within Belize. Members of the public who transact business with this entity do so at their own risk.