UAE broker warning list: regulator alerts and impersonation warnings
By Braden ChaseWriter and Researcher
Fact-checked by Tomislav TurcinBroker Analyst and ResearcherA dated compilation of public alerts published by UAE financial regulators: the DFSA, the FSRA (ADGM) and the CMA (formerly SCA). Every entry links the regulator’s own notice and summarises what it says. It is not a business24-7 finding or a legal judgment, and it is not complete. A firm’s absence from it says nothing about whether the firm is safe.
How to use this list
- Open the regulator’s notice for the entry and read what it says.
- Match the exact name, website or account. Scams often use near-identical names and domains.
- Check the official public register for the firm you are dealing with: DFSA ↗, FSRA (ADGM) ↗, CMA ↗.
- Contact a firm only through details you find on the register yourself. Never use the links or numbers in an unsolicited message.
Regulator notices: unauthorised firms and claims of authorisation
Most recent first. The alert type follows the regulator’s own category. The summary is ours, attributed to the notice. A clarification of status is neutral. It is not an allegation.
| Date | Subject of the notice | Regulator | Alert type | What the notice says | Notice |
|---|---|---|---|---|---|
| 30 Sep 2026 | E-Community e-community.co | FSRA (ADGM) | Suspected investment scam | The FSRA warns of what it describes as a suspected fraudulent scheme offering trading services and claiming to be based in ADGM and regulated by the FSRA, which it is not. | Read the notice ↗ |
| 10 Aug 2026 | Vibrafund FZLLC | FSRA (ADGM) | Unauthorised firm | ADGM’s Registration Authority and the FSRA say Vibrafund claims RA registration and FSRA authorisation for digital-asset trading that it does not hold; it has never been incorporated, registered or licensed in ADGM. | Read the notice ↗ |
| 22 Jul 2026 | RETINARXIV Brokers | DFSA | Claims authorisation it does not hold | The DFSA says the firm claims to be DFSA-regulated but has never been authorised, that no “Retinarxiv” firm exists in the DIFC, and that its website links to a copy of the DFSA’s Public Register. | Read the notice ↗ |
| 13 Jul 2026 | DeVere Acuma Insurance Brokers L.L.C | CMA | Unauthorised firm | The CMA warns against an unlicensed entity offering financial products and services. | CMA warnings list ↗ |
| 8 Jul 2026 | Veyron Markets Ltd veyronmarkets.com; veyronmarkets.io | FSRA (ADGM) | Suspected investment scam | The FSRA warns Veyron may be presenting itself as connected to ADGM; it has never been authorised by the FSRA or incorporated or licensed in ADGM. | Read the notice ↗ |
| 7 Jul 2026 | TRADEMARKET FZCO | DFSA | Claims authorisation it does not hold | The DFSA says the firm claims DFSA regulation but has never been authorised, that no such firm exists in the DIFC, and that the “PERSONAL” fund it cites is not registered. | Read the notice ↗ |
| 1 Jul 2026 | AmpliFi Capital amplifi-capital.com | DFSA | Claims authorisation it does not hold | The DFSA says the firm claims DFSA regulation but is not authorised and is not in the DIFC. The notice adds that the “individuals” listed on the firm’s website appear to be AI-generated, and that the site promises guaranteed returns. | Read the notice ↗ |
| 30 Jun 2026 | Tasenovass LTD. and Akanivutar | DFSA | Claims authorisation it does not hold | The DFSA warns that both run trading platforms that claim DFSA regulation; it says neither has ever been authorised, and that a copy of the DFSA’s Public Register was set up to support the claim. | Read the notice ↗ |
| 24 Jun 2026 | VIE Finance SEY Ltd ar.200invest.com | CMA | Unauthorised firm | The CMA warns against an unlicensed, unregistered entity offering financial services. | CMA warnings list ↗ |
| 18 Jun 2026 | Capital Nexus Management L.L.C-FZ / Capital Legacy FZ dubai.platforms.app | CMA | Unauthorised firm | The CMA warns against an unlicensed, unregistered entity offering financial services. | CMA warnings list ↗ |
| 11 Jun 2026 | Galloway Investment Group | DFSA | Clarification of status (not an allegation) | The DFSA clarifies that the firm is either not in the DIFC or is not, and never has been, authorised to provide financial services or loans in or from the DIFC. | Read the notice ↗ |
| 8 Jun 2026 | Pemaxx Liquidity pemaxx.com | CMA | Unauthorised firm | The CMA warns against an unlicensed, unregistered entity offering financial services. | CMA warnings list ↗ |
| 21 May 2026 | GTC Marketing Management LLC / GTC Markets (Mauritius) Ltd, Dubai Branch | CMA | Unauthorised firm | The CMA warns against an unlicensed, unregistered entity offering financial services. | CMA warnings list ↗ |
| 13 May 2026 | Nova Wealth Financial Consultancy LLC / Century Capital Advisors Limited | CMA | Unauthorised firm | The CMA warns against an unlicensed, unregistered entity offering financial services. | CMA warnings list ↗ |
| 5 May 2026 | Tungsten-me / Tgst-me and related domains tungsten-me.com; tgst-me.com; my-tungstens.com; app-tunsgten.com; tungsten-app.com | FSRA (ADGM) | Suspected investment scam | The FSRA warns that several websites, which it describes as fraudulent, closely imitate Tungsten Custody Solutions Ltd, an FSRA-regulated firm that is the victim here: the sites are not associated with it, and their operators are not licensed in ADGM. | Read the notice ↗ |
| 5 May 2026 | Wealth World Capital Investment LLC / Arbitrage Prime arbitrageprime.com | CMA | Unauthorised firm | The CMA warns against an unlicensed trading platform offering financial services. | CMA warnings list ↗ |
| 4 May 2026 | Seguro Global and related entities seguro.ae | CMA | Unauthorised firm | The CMA warns against unlicensed, unregistered entities offering financial services: Seguro Global, Seguro Private Wealth FZC, Seguro Commercial Brokers LLC and Seguro Insurance Brokerage LLC. | CMA warnings list ↗ |
| 1 May 2026 | Astara Bay Capital astarabaycapital.com | DFSA | Claims authorisation it does not hold | The DFSA says the firm claims DFSA regulation but has never been authorised, and that no “Astara” firm exists in the DIFC. It says the firm was promoted on Facebook and Instagram as a “DFSA-Regulated Real Estate Fund”. | Read the notice ↗ |
| 14 Apr 2026 | MaskEx maskex.com | FSRA (ADGM) | Unauthorised firm | The FSRA says MaskEx displays an “ADGM Category 3C” licence and claims registration in several jurisdictions, but has never been granted permission, incorporated or licensed in ADGM. | Read the notice ↗ |
| 6 Apr 2026 | Meer Group meer.capital | FSRA (ADGM) | Suspected investment scam | The FSRA and ADGM’s Registration Authority say Meer Group claimed ADGM regulation it did not have and promoted returns of 2–3% a month; its holding company is registered only as a passive holding company with no operational authorisation. | Read the notice ↗ |
| 5 Mar 2026 | Qalynomics and Qanotarytx qalynomics.com; qanotarytx.com | DFSA | Claims authorisation it does not hold | The DFSA says both claim to be DFSA-licensed but neither has ever been authorised, and that a copy of the DFSA’s Public Register was made to support the claim. | Read the notice ↗ |
| 2 Feb 2026 | MKT Investing mktinvesting.com (operator: Mount Nico Corp Ltd) | FSRA (ADGM) | Unauthorised firm | The FSRA warns the site claims to be regulated without naming a regulator; the FSRA does not regulate it and it has never been licensed in ADGM. | Read the notice ↗ |
| 6 Jan 2026 | SGV Advisory FZ LLC / Strategic Global Ventures sgv-group.com | FSRA (ADGM) | Clarification of status (not an allegation) | The FSRA says SGV offered a US$500,000 “GP investment platform”, claimed FSRA cover and used the name of an Approved Person at another firm without permission; it has never been licensed or incorporated in ADGM. | Read the notice ↗ |
| 4 Dec 2025 | Mirage by Mag Investment LLC trademirage.com | FSRA (ADGM) | Suspected investment scam | The FSRA warns of what it describes as a suspected fraudulent scheme, trading as Trade Mirage, whose website claims to be “accredited by” ADGM; it has never held permission or a licence in ADGM. | Read the notice ↗ |
| 28 Nov 2025 | Souq Capital souqcapital.com | DFSA | Clarification of status (not an allegation) | The DFSA says the firm has never been authorised, although its website claims DFSA regulation and shows a DFSA registration number the DFSA did not issue. | Read the notice ↗ |
| 25 Nov 2025 | Berkshire Consulting Co berkshireconsulting.co | DFSA | Clarification of status (not an allegation) | The DFSA says the firm suggests it is DFSA-regulated when it is not, using an address that implies a DIFC presence and an authorised firm’s address without permission. | Read the notice ↗ |
Impersonation: clones of existing firms and messages using a regulator’s name
In these alerts the named firm or regulator is the victim, not the wrongdoer. An impersonator copied its name, licence or branding. Each entry identifies the website or message the regulator warns about. If you deal with a firm named here, contact it only through the details on its regulator’s register.
| Date | Who was impersonated | Website, account or message | Regulator | What the notice says | Notice |
|---|---|---|---|---|---|
| 25 Sep 2026 | XTB MENA Limited Impersonated firm: the victim, not the wrongdoer | xtbmenalimited.cloud; a Telegram channel Advance-fee request | DFSA | The DFSA warns that people impersonating the DIFC-registered firm offer investments over Telegram, with contracts it describes as fictitious, and ask for advance fees. The real firm is not connected. | Read the notice ↗ |
| 24 Sep 2026 | DFSA The regulator is the victim | Recruitment messages in the DFSA’s name, sent as “Pinnacle Staffing UAE” | DFSA | The DFSA warns of recruitment messages that use its name and branding without permission; it says it never asks candidates for payment or banking details. | Read the notice ↗ |
| 8 Sep 2026 | DFSA The regulator is the victim | Blockchain settlement letters using the DFSA’s name Advance-fee request | DFSA | The DFSA warns of letters using its name and logo that claim to help release funds tied to crypto transactions and ask for payment first. The DFSA says it handles no client funds. | Read the notice ↗ |
| 17 Aug 2026 | Menhir Capital Management Limited Impersonated firm: the victim, not the wrongdoer | masiju.com | DFSA | The DFSA says someone is using the firm’s name, DIFC address and DFSA reference number without permission, and that the real firm uses menhircapital.ae. | Read the notice ↗ |
| 25 Jun 2026 | The DFSA and a DFSA-authorised firm Impersonated firm: the victim, not the wrongdoer | safacapitalltd.com; safacapltd.com; webtrader.safacapitalltd.online | DFSA | The DFSA warns that people are impersonating it and an authorised firm, using the firm’s name, address and reference number, look-alike websites and emails, a trading platform, an imitation DFSA email address and a copy of the DFSA seal. The DFSA charges no advance fees. | Read the notice ↗ |
| 22 Jun 2026 | Fortrade (DIFC) Limited Impersonated firm: the victim, not the wrongdoer | fortradedifc.ae (“ForTradeDifc”) | DFSA | The DFSA warns that a website with a similar name claims DFSA regulation, and says the entity it promotes is not linked to the real firm. | Read the notice ↗ |
| 5 Jun 2026 | Sarwa (FSRA-authorised) Impersonated firm: the victim, not the wrongdoer | apply.sarwa.email; hr.sarwa.me; sarwa.team; sarwa.com.co; indeed.sarwa.me; meetify.cloud/sarwa | FSRA (ADGM) | The FSRA warns that several domains claim a link to Sarwa, including for recruitment; Sarwa confirmed it has no connection to them. Its only official careers site is careers.sarwa.co. | Read the notice ↗ |
| 13 May 2026 | The Ultima World (DIFC) Limited Impersonated firm: the victim, not the wrongdoer | theultimatum.pro (“Ultimatum World”) | DFSA | The DFSA warns that someone is using a similar name and the firm’s regulatory status, licence and address to appear credible. | Read the notice ↗ |
| 29 Apr 2026 | Fortrade (DIFC) Limited Impersonated firm: the victim, not the wrongdoer | fortradefx.ae (“Fortradefx”) | DFSA | The DFSA warns that “Fortradefx” uses the firm’s name to offer CFDs and forex, and says Fortradefx is not in the DIFC and has never been authorised. The real firm uses @fortrade.com email addresses. | Read the notice ↗ |
| 28 Apr 2026 | Exinity ME Ltd (trading as Nemo) Impersonated firm: the victim, not the wrongdoer | exinityxe.cc; exinityx.com | FSRA (ADGM) | The FSRA warns that two look-alike websites have no connection to the regulated firm; their operators hold no ADGM licence, and the FSRA believes the sites aim to defraud. The FSRA files it as an investment scam. | Read the notice ↗ |
| 17 Apr 2026 | FIG Investments Ltd and the DFSA Impersonated firm: the victim, not the wrongdoer | figinvestmentsltd.com; platform.figinvestmentsltd.online; imitation DFSA email compliance@supportdfsa.net Advance-fee request | DFSA | The DFSA warns that people are impersonating the firm and the DFSA, using DFSA-style emails, a trading platform and a copied website, with letterhead, a stamp and a director’s signature that the DFSA says are forged. | Read the notice ↗ |
| 7 Apr 2026 | Nomura International plc (DIFC Branch) Impersonated firm: the victim, not the wrongdoer | nomurainvestment.com; nmintplc.com (“Nomura Investment International Plc”) Advance-fee request | DFSA | The DFSA warns that people are impersonating the firm with contracts and websites the firm did not issue, in one case asking for an upfront fee. The real firm uses @nomura.com email addresses. | Read the notice ↗ |
| 5 Mar 2026 | Amana Financial Services (Dubai) Limited Impersonated firm: the victim, not the wrongdoer | amaanahcapitall.com (“Amanah Capital”) Advance-fee request | DFSA | The DFSA warns that “Amanah Capital” uses a name similar to the firm’s and claims DFSA authorisation it does not have. | Read the notice ↗ |
| 27 Jan 2026 | DFSA The regulator is the victim | A notice using the names of the DFSA and its Chief Executive without permission | DFSA | The DFSA warns of a “MODIFICATION NOTICE” it did not issue, claiming employees must hold a DFSA-regulated certification; it uses a real firm’s reference number and the DFSA logo without permission. | Read the notice ↗ |
| 14 Jan 2026 | Interactive Brokers (U.K.) Limited (DIFC Branch) Impersonated firm: the victim, not the wrongdoer | “Interactive Investments & Brokerage LLC” | DFSA | The DFSA warns that a “Crypto Subscription Agreement” for Remittix tokens is being sent using the genuine firm’s name, logo and office addresses without permission. It says “Interactive Investments & Brokerage LLC” has never been authorised. | Read the notice ↗ |
| 12 Jan 2026 | EGS Capital Limited Impersonated firm: the victim, not the wrongdoer | egscapltd.com; egscapit.com Advance-fee request | DFSA | The DFSA warns that someone copied the firm’s website, claimed DFSA licensing and sent a letter it describes as forged, asking for payment of supposed outstanding fees. The real site is egscapitalltd.com. | Read the notice ↗ |
| 12 Jan 2026 | A DFSA-licensed firm Impersonated firm: the victim, not the wrongdoer | sidra-capitalfinance.com Advance-fee request | DFSA | The DFSA warns that people impersonating an authorised firm offer loans and ask for deposits to an account not connected to the firm, then ask for “penalties” to unfreeze the money. | Read the notice ↗ |
| 7 Jan 2026 | DFSA The regulator is the victim | A letter using the names of the DFSA and its Chairman without permission Advance-fee request | DFSA | The DFSA warns of a letter it did not issue, using its logo and its Chairman’s name to ask for a 1% fee before a large transfer and citing a bank that does not exist. | Read the notice ↗ |
| 17 Dec 2025 | GSB Capital Ltd (impersonated again) Impersonated firm: the victim, not the wrongdoer | getmyloans.info | DFSA | The DFSA warns of a second impersonation of the firm, through a website using its name and its employees’ names without permission. | Read the notice ↗ |
| 16 Dec 2025 | Mirante Fund Management SA (FINMA-authorised) Impersonated firm: the victim, not the wrongdoer | A document with a DFSA reference number the DFSA did not issue | DFSA | The DFSA warns that someone using the firm’s name claims DFSA regulation, with a document bearing a UK exchange logo and a DFSA reference number the DFSA did not issue. | Read the notice ↗ |
| 13 Nov 2025 | DFSA The regulator is the victim | A document presented as a DFSA licence for “Emirati Global Markets (EGM)” | DFSA | The DFSA warns of a document, presented as a DFSA licence for “Emirati Global Markets (EGM)”, that it did not issue. It reuses a real firm’s licence number and address, a DFSA-style stamp the DFSA has never used, and a former CEO’s name. | Read the notice ↗ |
| 3 Nov 2025 | Dalma Capital Management Limited Impersonated firm: the victim, not the wrongdoer | “D Finance Capital Management Ltd” Advance-fee request | DFSA | The DFSA warns that people presenting themselves as “D Finance Capital Management Ltd” offered loans for an upfront fee, using Dalma’s licence number (F002345), logo and website without permission. | Read the notice ↗ |
What a warning does and does not mean
- A listing is not a court finding. It records what a regulator has published. Unless the notice itself says so, it is not a finding of fraud or a criminal conviction.
- Not being listed is not evidence of safety. Regulators can only warn about what they find, and this list covers only the sources shown below.
- A clone warning does not implicate the firm being impersonated. When a regulator warns about a clone, the authorised firm is the victim.
- A warning is separate from authorisation. Check the firm’s own entry on the official register too. Our regulation hub explains how.
If you have already paid
- Stop paying. Never pay a “release fee”, “tax” or “verification deposit” to get money back.
- Contact your bank or card issuer immediately to try to stop or dispute the payments. Acting quickly may help, but recovery is not guaranteed.
- Keep the evidence: payment records, messages, website and wallet addresses, and the names used.
- Report it to the police. In Dubai, use the eCrime portal ↗ or the Dubai Police app, or call 901, the non-emergency line. In Abu Dhabi, use Abu Dhabi Police’s Aman service ↗ on 8002626 (SMS 2828). Call 999 only in an emergency.
- If a UAE bank or insurer is involved, complain to it in writing first. If it hasn’t resolved the complaint within 30 days, take it to Sanadak ↗, the free, independent ombudsman for banking and insurance.
- If the firm claimed DIFC or ADGM regulation, report it to the regulator: the DFSA ↗ or the FSRA ↗.
- Keep every case reference number.
Beware recovery scams. Anyone who contacts you offering to recover your money for an upfront fee is very likely running a second fraud. The warning sign is an unexpected demand for an upfront payment to “release” supposedly frozen funds. That is different from the ordinary, disclosed fees a broker charges.
Crypto and virtual assets
In Dubai outside the DIFC, virtual-asset service providers are regulated by VARA. The CMA’s new federal law also covers virtual assets, and how the two regimes interact is still being settled. This broker list does not include crypto alerts. For virtual-asset firms, check VARA’s own regulatory notices ↗.
Sources, coverage and dates checked
Each entry links the specific notice. The CMA publishes its warnings as a single table, so CMA entries link that list. The table below shows when we last checked each regulator’s alerts. Notices that are withdrawn, updated or superseded stay on the list and are marked as such. Period covered: November 2025 – September 2026.
| Regulator | Alerts source | Public register | Last checked | Known gaps |
|---|---|---|---|---|
| DFSA | DFSA Alerts ↗ | Register ↗ | 28 Oct 2026 | A few notices from this period are still being confirmed and are not listed yet. |
| FSRA (ADGM) | FSRA (ADGM) Regulatory Alerts ↗ | Register ↗ | 28 Oct 2026 | — |
| CMA | CMA warnings (open data) ↗ | Register ↗ | Not yet checked | The CMA’s live warnings table could not be read for this update, so each CMA entry is confirmed through IOSCO’s I-SCAN record of the CMA notice and links to the CMA’s warnings list. CMA notices after 11 Aug 2026 are not listed yet. |
Supplementary: IOSCO I-SCAN ↗ collects alerts published by regulators in many jurisdictions. We link to the authority that published each one.
Spotted an error or an out-of-date entry? Contact us.
Change log: no changes recorded yet.
Frequently asked questions
Does a listing mean the firm has committed fraud?
No. Unless the regulator’s notice says so, a listing does not mean the firm has committed fraud. It records what a regulator has published, such as that a firm is not authorised or that someone is impersonating an existing firm. It is not a court finding.
Source: DFSA Alerts ↗
If a broker isn’t on this list, is it safe?
No. This list covers only the regulator sources shown on this page, and regulators can only warn about what they find. Not being warned about is not evidence of authorisation or safety. Check the firm’s exact entity on the official register.
Source: FSRA Public Register ↗
Can a clone use a genuine firm’s name or licence number?
Yes. Clone scams copy an existing firm’s name, licence number, logo or website, so a correct-looking licence number is not enough. Reach a firm only through contact details you find on the regulator’s register yourself.
Source: DFSA Alerts ↗