Brief Look at EagleFX
The operations of the online broker EagleFX (EagleFX Ltd), registered in the offshore jurisdiction of Dominica, followed a typical pattern of unregulated financial intermediation. The company attracted traders with promises of round-the-clock support, high leverage of up to 1:500, and the ability to conduct transactions using cryptocurrency. However, the lack of oversight by financial regulators allowed the platform to employ opaque order execution mechanisms. The situation was further aggravated when EagleFX was placed on the warning "blacklists" of regulators, including the US CFTC and the Canadian OSC. The final stage of the scam was marked by the blocking of accounts, the freezing of Bitcoin withdrawals, and customer support ignoring complaints.
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