Finanstilsynet warns against Fondavex's Steinvault trading platform at steinvault.com
Norway's Finanstilsynet warns that Fondavex has contacted Norwegian investors offering investment services through the unauthorised trading platform steinvault.com.
- First reported
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Source: finanstilsynet.no · published
What happened
In an investor alert published October 15, 2026, Norway's Financial Supervisory Authority (Finanstilsynet) said it has received information that Fondavex has contacted Norwegian investors and offered investment services. The company offers its services through the website steinvault.com.
Finanstilsynet warns against operators marketing crypto investments and other financial products through unauthorised trading platforms. It says these operators are not authorised to operate in Norway, that it does not supervise them, and that investors should not enter into agreements with, or transfer funds to, such platforms.
How the scam works
Finanstilsynet says such platforms present themselves as safe and professional. They display 'live profits', 'AI trading' features or fabricated charts without supporting documentation.
After registration, investors are contacted by a 'financial adviser' who pressures them to make an initial deposit, often a minimum of EUR/USD 250. When investors try to withdraw, they may face demands for additional fees, frozen accounts, unanswered messages and contact persons who disappear.
Source
Finanstilsynet, "Finanstilsynet warns investors against trading through the Steinvault trading platform" (October 15, 2026).
Red flags
- 'Live profit' displays, 'AI trading' features or charts with no documentation.
- A 'financial adviser' calling after sign-up to push a first deposit of around 250 euros or dollars.
- Extra fees demanded before you can withdraw.
If you were targeted
- 1Don't sign up with or transfer money to steinvault.com.
- 2Check whether a company is registered in Finanstilsynet's Registry of Entities before investing.
- 3Be critical of investment ads on social media and don't let anyone rush you.
- 4If you've paid, contact your bank and report it to the police.