Cyprus High-Risk Payment Processor Payabl Facilitates Offshore Broker VT Markets In Europe!

VT Markets is an Australien multi-asset broker regulated by the ASIC. Moreover, VT Markets operates offshore entities in South Africa and St. Vincent & The Grenadines. It does not have a license to offer its financial services in the EEA jurisdictions. However, almost 40% of the website visitors are from EEA countries. The Spanish CNMV issued already a warning aginst the offshore broker. A significant portion of VT Markets customers' deposits are settled through Cyprus-based Payabl via its PowerCash21 gateway. Here is an update.

VT Markets is an Australien multi-asset broker regulated by the ASIC. Moreover, VT Markets operates offshore entities in South Africa and St. Vincent & The Grenadines. It does not have a license to offer its financial services in the EEA jurisdictions. However, almost 40% of the website visitors are from EEA countries. The Spanish CNMV issued already a warning aginst the offshore broker. A significant portion of VT Markets customers’ deposits are settled through Cyprus-based Payabl via its PowerCash21 gateway. Here is an update.

VT Markets Update

VT Markets was part of the Australian Vantage Group until Q2 2022, when it was carved out (report here). The multi-asset and CFD broker VT Markets offers leverage of up to 1:500 in violation of regulatory requirements in EEA jurisdictions. Although VT Markets has no authorization in the EEA regions, it is no problem to register as an EEA resident. According to the latest Similarweb statistics, about 40% of VT Markets‘ website visitors come from EEA countries such as Italy, France or Switzerland.

An analysis of the web traffic shows that currently a significant part of the deposits of VT Markets customers seem to be facilitated via the Cypriot high-risk payment processor Payabl and its PowerCash21 gateway. Payabl, regulated by the Central Bank of Cyprus as a payment institution, was founded by former Wirecard executives Dietmar Knoechelmann and Ruediger Trautmann.

Deposits can only be made after the KYC process has been completed, which is compliant with the regulatory requirements. Payment options include bank transfers, credit and debit cards, fasapay, Neteller, crypto (Bitcoin and Tether) and Perfect Money.

VT Markets Key Data

Brands	VT Markets
Domain	www.vtmarkets.com www.vtmarkets.com.au www.vtmindo.com
Legal entities	VT Global Pty Ltd, Australia VT Markets Pty Ltd, Australia VT Global South Africa (Pty) Ltd, South Africa VT Markets LLC, St. Vincent & The Grenadines Vigglobal Holding Cy Ltd, Cyprus
Jurisdictions	UK, Australia, Vanuatu, Caymen Islands, St. Vincent & The Grenadines
Authorizations	ASIC for VT Global Pty Ltd (Australia) FSCA for VT Global South Africa (Pty) Ltd (South Africa)
Platform	~~PandaTS~~ (until recently)
Leverate	up to 1:500
Payment options:	Bank wire, credit/debit card, crypto, wallets
Payment processors	fasapay, Neteller, PerfectMoney, Payabl
Related individuals	Pedzai Mvere (LinkedIn)
Warnings	CNMV

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