Public Alert: BaFin Investigates Unlicensed FX Broker Flip Access

A Newly Created Website

Fraudulent forex entities create sites that are generally 1 to 2 years old and disappear to recreate another domain name. Flip Access has a domain name that was created on 31 March 2022, only two months ago and is therefore, part of this dangerous category of fraudulent financial company.

False Regulation & Licensing Warning

On its “Legal/Regulation”, Flip Access states it is an authorised broker under double supervision, including the Register of Companies of the Financial Conduct Authority(FCA) under registration number 9828006 and the Bundesanstalt für Finanzdienstleistungsaufsicht (BaFin) under registration number 0198016.

▶ Not a legitimate UK forex broker

Searching with registration number 9828006 on the FCA Registry, we found no matching records. That is to say - the firm is an unlicensed broker who runs without any licenses.

▶ Suspicious BaFin license

As for its BaFin license, no results matching for registration number 0198016 on BaFins Registry. Instead, we found a warning record for Flip Access.

▶ BaFin investigates Flip Access

BaFin updated an unauthorised news about Flip Access recently. The regulator makes it clear that the company has not been granted authorisation to conduct banking business or provide financial services. The company is not supervised by BaFin.

“The information provided on the companys website, flipsaccess.com, gives reasonable grounds to suspect that Flip Access Plc is conducting banking business and providing financial services in Germany without the required authorisation.”

Based on the above information, we can conclude that Flip Access is a scam.

If you are aware of suspicious activities, or believe you have been defrauded, please contact us at wikifx.com.