As early as six months ago (April 2025), TraderKnows exposed the high-risk situation of Amillex (also known as Amyl International). Despite operating in Chinese-speaking and Southeast Asian regions, the company obtained an offshore regulatory license and registration from Mauritius, with a high probability that this accreditation was purchased from someone else.
This exposure came about because a user submitted information to us, revealing new evidence and facts that further confirm our assessment of Amillex as high-risk. This article integrates the evidence provided by the user with our existing findings to warn potential users interested in depositing or trying out the platform to be cautious and avoid being scammed.
False Regulatory Certificate Information
According to user complaints, Amillex purchased a PR article on a forex information site, providing false information by claiming to have Cypriot and Seychelles licenses. They boasted exaggeratedly about these licenses, even listing license numbers, but these licenses are not theirs!
On the forex information site's Plus500 information page, the license numbers that Amillex claimed to hold were conspicuously listed, proving these licenses belong to Plus500. We verified this through searches with the Cyprus Securities and Exchange Commission (CySEC) and the Financial Services Authority (FSA) of Seychelles.
Regarding the user-mentioned Mauritius Financial Services Commission (FSC) registration, we could indeed find the registration information, with the license type being SEC-2.1B.
However, their registration and regulation dates do not align, differing by about a year. Their corporate information was already registered on May 31, 2024, even though they began operations in 2025. Upon querying the Mauritius Registrar of Companies and Business Registration Department (CBRD), we learned that it's possible to obtain a registered status via "shelf companies and rebranding".
Regarding Amillex's FSC license, the Mauritius Financial Services Commission only regulates activities and entities within or from Mauritius. An FSC license does not equate to being able to operate directly in Amillex’s main market areas (China and Southeast Asia) and does not provide "passporting rights".
False Compensation Claims
In the Vietnamese market, Amillex claims via Instagram that it collaborates with Eagle Insurance, offering a maximum compensation of up to 1.5 million USD per claim. This is likely to entice investors, making them think their funds are protected, and that they could receive compensation even if the platform collapses.
However, this is not the case. We checked Eagle Insurance’s website, which clearly states that such promotions typically refer to professional liability insurance that brokers purchase for themselves. The insured party is the broker, not the investor! Investors can only seek indirect compensation through such a policy if the broker is held liable for negligence, and then only if the claims meet policy limits, exclusions apply, and it does not cover trading losses.
Moreover, Amillex has not presented any documentation or receipts for an insurance purchase on official channels, yet daringly promotes it as advertising. With this information in mind, would you still trust them with your money?
Fabricated Trade Show Experiences and Team
Amillex uses a large number of AI-generated photos to "mass-produce employees", whom are not real. The photos of Amillex’s CEO, Bassil George, and COO, Olivia Williams, are also AI-generated, with no information available about them online. Additionally, they claim to have held a trade fair in Madrid, with related event photos presented.
Based on TraderKnows' experience, platforms wanting to promote trade fairs generally boast extensively, sometimes even providing extensive photo albums documenting the event. However, Amillex has only two photos displayed publicly, with no overall record of the trade show. One of the photos even has a logo edited in later. Coupled with Amillex’s use of AI photos for employee profiles, TraderKnows suspects the trade show photos are also AI-generated, and that no such event occurred.
Moreover, we have learned from user complaints that Amillex claims to have attended a forex exhibition hosted by a certain platform, but our investigations reveal they are not on the attendees list at all.
In Conclusion
Amillex is a forex broker suspected of being a high-risk fraudulent platform, engaging in false advertising. Their main targets are users in China and Southeast Asia, building trust by providing false information to easily capture funds. Investors, please be vigilant and do not be deceived.
