EFI Markets
We checked EFI Markets against the AskCheck register. It has been reported (2022) and carries the red flags below. Treat it with extreme caution.
Why it’s flagged
What we found
EFI Markets provides an MSB number issued by the Financial Transactions and Reports Analysis Centre of Canada (FINTRAC) to appear legitimate. However, the FINTRAC is a Canada's financial intelligence unit responsible for cracking down on money laundering and terrorist financing, and the registration with FINTRAC doesn't indicate they endorse or license the business. Therefore, EFI Markets is not licensed to provide financial services/products. If the Money Services Business (MSB) registration is valid, then the actual name of the company is EFI ECOM Limited, as per the records. The company claims to be based in Canada, and for it to operate legitimately, it must be licensed by the Canadian Investment Regulatory Organization (CIRO). However, we have not found any records in the CIRO registry that would confirm the legitimacy of this company. It's worth noting that EFI Markets presents itself as the trading name of Efimarkets Ltd, which is a different name from the one on its MSB registration page. As per its website, Efimarkets Ltd is registered in the United Kingdom of Great Britain and Northern Ireland. However, according to the Companies House registry, EFI Markets Limited has been dissolved. Furthermore, the British financial regulator, the Financial Conduct Authority (FCA), has not granted authorization to this entity. This raises questions about the legitimacy of EFI Markets'operations. In essence, EFI Markets is not regulated by any governing body. Entrusting this broker with investors' funds is highly risky, as there are no legal protections in place to safeguard the funds. It is unequivocally a scam.
Assessment source: FastBull BrokersView.
What to do next
- Stop sending money. Don’t make another deposit, pay a “tax” or “release fee”, or share remote-access to your device.
- Gather your evidence. Save statements, chat logs, transaction IDs and the wallet addresses you paid to.
- Report it to your regulator and to local police / action-fraud line so it’s on the official record.
- Add your report here so the next person searching this name is warned — report EFI Markets.
- Verify on the register. Cross-check the full entry on the SentFunds register before you trust anyone offering to help.