The website operator appears under the name ProfitFlex247, without using a legal form. He does not provide any information about his place of business. The operator claims to be authorised and regulated by the UK Financial Conduct Authority (FCA). It links to the FCA's homepage to a publication there about the registration of the company Flex Instant Services Ltd. The BaFin has no information about a possible connection between Flex Instant Services Ltd and the website profitflex247.com. Rather, it is assumed that the company's identity has been stolen.

Recently, a large number of websites with almost identical content have come to light, and BaFin has also issued warnings about these. In all cases, the presentation on the websites begins with the following sentence: ‘Step Into the Trading Arena with Confidence & [name of website]’ or, more recently, ‘Enter the trading arena with confidence & [name of website]’. In addition, BaFin has evidence of a link between the ‘Step Into the Trading Arena with Confidence’ platform series and the ‘Trade Wisely’ platform series, which BaFin has also already warned about.

Anyone offering financial or investment services in Germany requires the permission of BaFin. However, some companies offer such services without the required permission. Information on whether a particular company is authorised by BaFin can be found in the company database.

The information provided by BaFin is based on section 37 (4) of the German Banking Act (Kreditwesengesetz – KWG).