Recently, the international financial services brand Magic Compass (Baohui Investment) has been caught in a whirlwind of public opinion due to license compliance issues. This brokerage firm, which claims to hold licenses from multiple countries such as CySEC in Cyprus and FINTRAC in Canada, has been suspected of "operating under a false license". The investigation found that the domain name registered on the official website of the Cyprus Securities and Exchange Commission does not match the actual operating website, and the advertised FSA license from Saint Vincent and the Grenadines has been verified to be non-existent. This kind of "transplantation" operation has left investors feeling "completely defenseless". Another point that needs to be emphasized is that Magic Compass Baohui Investment does not possess any domestic financial compliance licenses at all. Once it accesses mainland financial transactions through the Internet, IT Mobile Finance Network assesses its risk as extremely high, making it prone to forming a financial scam model!

What is even more concerning is the concentrated outbreak of user complaints. Several investors have reported experiencing "difficulties in withdrawing profits". Some users have waited for two months without receiving their funds, and some have even been required to pay a 30% "bail" to withdraw their money. Although the platform explains this as "anti-money laundering review", combined with its vague information about fund custody, it inevitably raises suspicions about whether there is a fund pool operation of "robbing Peter to pay Paul". This "making pie in the sky" operating model bears a striking resemblance to the P2P platforms that collapsed in the past.