The ADGM Financial Services Regulatory Authority (FSRA) issued an alert to the financial services community and the public about a suspected fraudulent scheme and false and misleading claims made by an entity or purported entity named Mirage by Mag Investment LLC, trading as Trade Mirage, via its website and an Instagram account. On its website, Trade Mirage describes itself as a “globally recognised forex trading platform” and falsely claims to be “accredited by” ADGM, while its Instagram account advertises trading services and instant withdrawals and falsely claims it is regulated by ADGM. The FSRA stated that Trade Mirage is not, and has never been, granted a Financial Services Permission to carry on any Regulated Activity in or from ADGM and is not, and has never been, incorporated in ADGM or licensed to undertake commercial activities in ADGM. The FSRA advised investors not to deal with firms until verifying they are authentic and appropriately authorised, including by searching the FSRA’s Public Register for Financial Services Permissions and the ADGM Registration Authority’s Public Register for incorporation or registration status.
ADGM Financial Services Regulatory Authority 2025-12-04
ADGM Financial Services Regulatory Authority issues alert on Trade Mirage for false claims of ADGM accreditation and regulation
The ADGM Financial Services Regulatory Authority (FSRA) issued an alert about a suspected fraudulent scheme by Mirage by Mag Investment LLC, trading as Trade Mirage. The entity falsely claims ADGM accreditation and regulation, lacking any Financial Services Permission or incorporation in ADGM. The FSRA advises investors to verify firms' authenticity and authorization through its Public Register and the ADGM Registration Authority’s Public Register.