BAFIN DE

German Regulator Acts Against Trading Platform TradInvestor

BaFin prohibits unauthorised deposit operations and orders winding-up of this business.

Germany’s Federal Financial Supervisory Authority today confirmed that it has taken action against Ez Education which operates the trading platform “TradInvestor”.

This follows the publication of notice dated 12 August 2020, whereby BaFin prohibited Ez
Education, based in Majuro, Marshall Islands, from conducting deposit business and ordered it to
wind up said business with immediate effect.

Ez Education operates the trading platform “TradInvestor” for contracts for difference (CFDs) and cryptocurrencies, among other things. The platform can be accessed through the domain tradinvestor.com. In this context, the company accepts funds from others as deposits or other unconditionally repayable funds from the public. Ez Education is thereby conducting deposit
business without the required authorisation from BaFin, the regulator explains.

By law, the order is immediately enforceable but not yet final.

The German regulator has been quite active in issuing such notices over the past several months. In August, for instance, it published several such notices. One of them targets Software and Media LTD, which also does business out of Majuro, Marshall Islands. This entity operates the trading platform www.boxinvesting.com for shares and crypto currencies. In this context, the company accepts funds from others as deposits or other unconditionally repayable funds from the public.

Software and Media LTD is thereby conducting deposit business without the required authorization from BaFin. The German regulator has prohibited Software and Media LTD from continuing to provide this type of business in Germany and ordered that the un-authorised business be wound up without undue delay.

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