In a notice dated 25 March 2021, BaFin ordered Future Traders Corporation Ltd., based in the Netherlands, to immediately cease its unauthorised conduct of safe custody business and its unauthorised provision of investment broking and investment advice services.
The company targets German customers and offers them broking services for shares and bonds. It provides potential customers with pre-filled subscription forms for them to complete, sign and send back to Future Traders Corporation Ltd. The provider operates the website future-traders.com. On this website, the company introduces itself as a broker for Germany, Austria and Switzerland (“Broker für Deutschland, Österreich und die Schweiz“). Visitors to the website are invited to open a securities account. In addition, customers are offered personalised advisory services.
Future Traders Corporation Ltd. is thereby conducting safe custody business under section 1 (1) sentence 2 no. 5 of the KWG on a commercial basis and, furthermore, is providing investment broking services under section 1 (1a) sentence 2 no. 1 of the KWG and investment advice services under section 1 (1a) sentence 2 no. 1a of the KWG on a commercial basis. It does not hold authorisation from BaFin as required under section 32 (1) of the KWG and is thus conducting unauthorised business.
In addition to its own website, future-traders.com, the company also uses the fake website europaischeakademiefurfinanzfragen.de. This is an unauthorised copy of the website eafp.com operated by Europäische Akademie für Finanzplanung GmbH & Co. Privatakademie für Finanz- und Informationswissenschaft KG. We would like to emphasise that no cooperation has taken place between Future Traders Corporation Ltd. and Europäische Akademie für Finanzplanung GmbH & Co. Privatakademie für Finanz- und Informationswissenschaft KG. BaFin has also been made aware that Future Traders Corporation Ltd. has approached customers using a fake BaFin letter. This letter claims, among other things, that Future Traders Corporation Ltd. has links to the authorised financial services institution Frankfurt Financial Solutions GmbH & Co. KG. This is also not true.