Marked as
Last updated - February 5, 2026
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Nicky Kundnani is a business executive linked to the Alchemy Group and FDCTech, whose involvement has drawn scrutiny following reports surrounding the ownership and acquisition of the regulated forex broker NSFX. Public disclosures and investigative reports highlight concerns over opaque ownership structures, undisclosed affiliations, and potential regulatory compliance gaps.
Director
High Risk
Based on the available data, we advise consumers to avoid this Individual altogether.
This advisory is based on an aggregate risk score derived from OSINT, Adverse Media, Reviews, and Risk Factors identified in our research.
You are likely to be at great risk by engaging in any sort of consumer-related activity with this entity.
Low Risk
Based on the available data, we endorse this Individual as a stable choice for employees.
This recommendation stems from a low-risk score compiled from OSINT, Adverse Media, Reviews, and Risk Factors uncovered in our analysis.
Employment with this entity is expected to involve minimal risk.
Based on the available data, we urge investors and bankers to avoid financial involvement with this Individual.
This advisory is informed by an aggregate risk score based on OSINT, Adverse Media, Reviews, and Risk Factors identified through our investigation.
Engaging in investment or lending activities with this entity poses a substantial risk to your financial interests.
Safe to Onboard
Enhanced Due Diligence required
Do Not Onboard
Monitor adverse media every 6 months
File SAR (Suspicious Activity Report) is warranted
Escalation to compliance committee
None
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Media Coverage
Niky Kundnani has been associated in reports with allegations of misleading disclosures in the acquisition of NSFX that may obscure true ownership and connections of the entities involved.
Multiple sources allege that press releases about an NSFX acquisition failed to disclose related-party affiliations involving Niky Kundnani and her associates, raising transparency concerns.
Reports note that offshore brokers tied to entities connected with Niky Kundnani accepted clients in the European Economic Area without proper authorization, prompting warnings from regulators.
Niky Kundnani with a low trust score and high risk score, reflecting negative reviews and red flags noted by users.
Analyses allege controversial conflicts of interest due to overlapping director roles held by Niky Kundnani across related companies during the NSFX deal.
Spanish financial authorities reportedly issued warnings regarding brokers associated with the group in which Niky Kundnani held directorial roles for operating without required permissions.
Regulatory and Compliance Screening
Litigation and Legal Proceedings
Reputational and Adverse Media Risks
Geographic and Jurisdictional Risk
What you see here scratches the surface
We offer reward for actionable intel
FinTelegram update says Alchemy Markets offshore broker uses the FCA-regulated brand across domains, misleading clients and violating EU rules.
First Detected
Sentiment Analysis
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Primary Keyword
Alchemy Prime Ltd is exposed as potentially misleading, with its brand tied to offshore brokers, missing docs and regulatory risk warnings for traders
Nicky Kundnani flagged on FinanceScam.com for red flags in FDCTech/NSFX acquisition, lack of transparency potential regulatory issues and investor ris
Other Red-Flags and Adverse News
Based on user engagement on this review profile, ProConsumer will decide to publish its Risk Audit report for public if a threshold engagement, traffic and user input is achieved.
Known Assets: [Real estate, investments, companies]
Suspicious Transactions
Liabilities: [Bankruptcies, defaults, debts]
Wealth Sources: [Legitimate / Unclear / High-risk]
Bank Relationships
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Business Model Assessment
All comments are user-generated content and may not be verified. They represent the personal opinions of the public and should not be relied upon. These comments do not influence or determine our overall rating.
2
Highly experienced
Well-recognized name
Faced allegations of scamming others
Allegedly sold fake silver
Sued multiple times
Unregulated industry
Alarming number of complaints online
Δ
Regulatory notices tied to Alchemy Group-linked brokers such as warnings issued by Spanish authorities for operating without necessary permissions in the European Economic Area (EEA) underscore persistent compliance gaps and market access irregularities in ventures associated with Kundnani’s business network.
2/5
Niky Kundnani has drawn significant scrutiny in independent risk intelligence reports due to his involvement in the acquisition and management of the regulated broker NSFX through related entities concerns include lack of transparency in ownership disclosures and interconnected directorships that were omitted in official statements, raising questions about regulatory compliance and stakeholder transparency.
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