The Malta Financial Services Authority (“MFSA” or “the Authority”) has become aware of an Entity by the name of iQpips which has an internet presence at https://iqpips.com/. This website is using the details of an MFSA licenced company Alchemy Markets Ltd. Fraudsters are using the details and website contents of this genuine company in an effort to deceive the public.

The Authority would like to inform the public that iQpips is NOT a Maltese registered company NOR is it authorised to provide any financial services in or from Malta. Additionally, iQpips has NO association with Alchemy Markets Ltd.

The website https://iqpips.com/ therefore appears to be a clone of the website of the legitimate entity and the public should therefore refrain from entering into any transactions or otherwise dealing with the false entity on any matters falling within the parameters of the Investment Services Act, Chapter 370 of the Laws of Malta.

The MFSA would like to remind consumers of financial services not to enter into any financial services transaction unless they have ascertained that the entity with whom the transaction is being made is authorised to provide such services by the MFSA or another reputable financial services regulator. A list of entities licensed by the MFSA can be viewed on the official website of the Authority at https://www.mfsa.mt/financial-services-register/.

For more information on clone companies please refer to the Scam Detection Guidelines issued by the MFSA at https://www.mfsa.mt/consumers/scams-warnings/typical-scams/ and the MFSA scam awareness document to keep yourself informed on red flags. If you are a victim of a scam or think you might be dealing with an unauthorised entity or any other type of financial scam, first of all stop all transactions with the company and contact the MFSA at https://www.mfsa.mt/about-us/contact/ as soon as a suspicion arises.