Blacklisted Companies- Watch Out For Companies Which Have Been Blacklisted For Investment Scams
Excerpt: These firms do not have a Forex brokerage license. They’ll break the law, willingly jeopardizing their investors’ interests in the process. It is believed that their platform will not last long in the market and that they would quit once they have stopped defrauding investors. When interacting with nameless entities, it would be beneficial if you were extremely cautious.
A blacklist in the United States is the result of a company or group engaging in unethical or offensive behavior. A blacklist can harm a person’s or company’s credibility and goodwill, weaken commercial and client connections, and cause financial hardship. Although most governments have blacklists of untrustworthy companies and suppliers, the threat of blacklisting is considerably more frequently employed than the actual action. This is especially true when it comes to international commercial disputes.
For example, in 2019, the US government imposed an export restriction on Huawei, causing other countries to prohibit Huawei from participating in certain procurement projects. China retaliated by threatening to boycott all foreign companies that imposed a Huawei ban. Despite the threats, these types of conflicts are frequently settled without the inclusion of entire countries on blacklists. Cloudwalk Technology, Dawning Information Industry, Leon Technology Company, and a few additional blacklisted companies are mentioned. Investment scams are swiftly becoming one of the most common types of fraud in the United States. These investments often appear to be too good to be true, and they are.
Investment scams cover a wide range of fraudulent methods used by con artists to persuade others to invest. Untrue or misleading information, as well as false opportunities, are examples of these activities. Scammers will approach victims through a variety of methods, including unsolicited phone calls, emails, text messages, and social media platforms. Some may employ a strategy known as affinity fraud to create relationships within a community, which they will then exploit to get victims to invest in their scams.
These investment scams can include gold gems, offshore investments, new kinds of cryptocurrency, franchises, and business possibilities, among other things. When it comes to investing, there are a number of red signs to look out for, such as large promises on low-risk, high-return investments or investments with a guaranteed return. investment possibilities that were not requested High-pressure salespeople try to persuade you to make a hasty decision by claiming to have insider knowledge. An unregistered trader offers to hide your assets from the man to help you avoid taxes by using misspellings or improper grammar in texts, emails, or websites.
The good news is that there are measures to protect yourself; make sure to check the name of anyone selling you investments or stocks on MBS securities.ca, and study opportunities and investments to determine their authenticity on MBS securities.ca. Payments made through unconventional payment methods, such as gift cards, wire transfers, or cryptocurrency, should be avoided. Slow down and seek assistance from a trusted individual, such as a family member or a friend, a lawyer, an accountant, or a financial planner. We all have a responsibility to play in preventing fraud.
This article will go through the inner workings of different blacklisted companies as well as what caused them to be blacklisted.
Latest News & Scam Alerts
If you’re someone who is into Investment Scam, then you’re definitely at the right place. We can give you the best practices in identifying red flags as well as help you in recovering your stolen money from scammers!
Table of Contents
CHAPTER 1: 10Brokers.com
CFD, commodities, Forex, indices, and cryptocurrency trading are all listed as services provided by the financial firm. The company was founded in 2018 and is aimed at newcomers to the market. Traders can take advantage of a big 3 pip spread offered by the company. That’s far more than their competitors are offering. In the EUR/USD currency pair, a reputable Forex brokerage offers spread starting at 1.6 pips. Rather than investing with this platform, you should seek out a more transparent Forex broker on the market who will not jeopardize your funds or security.
The leverage offered by 10Brokers is 1:400, which is not a bad figure; however, competing platforms give even higher leverage to their traders. Trading on margin carries a high level of risk. The more leverage you have, the more risk you have. Always remember not to trade with money you can’t afford to lose.
Traders can choose between three account kinds on the platform. Standard, Gold, and VIP investing programs are available. The ordinary account accepts $50 to $5,000, the gold account $5,000 to $10,000, and the VIP account $10,000 to $30,000. The spread variation is the only factor that distinguishes the accounts. Regrettably, the platform is unable to discuss the range. You’ll need to contact them for further information. The VIP traders will have access to a personal manager, which is a huge distinction. The managers will offer them market intelligence. Because this platform has defrauded many investors in the market, it is preferable if you exercise extreme caution.
Deposit and Withdrawal
The company’s minimum required information is not simple. They claim that the minimum amount you can cash in is $50, but they also state that to access their services, you must deposit at least $500. 10Brokers accept credit cards as payment. They do not accept payments via common ways such as Neteller, Skrill, or PayPal, which is also convenient.
It’s deceptive, which is yet another reason why you shouldn’t invest in this company. A $500 fee is higher than what most respectable Forex brokerages charge. If you are a newbie trader, it is best to start with a little quantity of money to avoid losing a lot of money. You can go large with your investment once you’ve accumulated enough experience. The information on the withdrawal is not adequately discussed. 10Brokers should not be your trading partner unless you are aware of all the conditions.
Regulation and Customer Support
KHO TECH Ltd is the business that oversees 10 Brokers’ operations. It is a supposedly registered entity in the Caribbean nation of Saint Vincent and the Grenadines. The company is not a legitimate platform, and it is also the parent firm of MRT Markets, a sleazy pyramid scheme.
Next to the broker’s name were KHO TEHCH Ltd. and FGM Technology Ltd.
The UK’s FCA blacklisted FGM Technology Ltd. (trading as 10Brokers) in June 2018: “FGM Technology Ltd trading as 10 Brokers is not regulated by us and is targeting persons in the UK.” We believe it is engaging in regulated activities that require authorization, based on the information we have.”
They claim to be members of the Financial Services Provision Commission as well (FSPC). Unfortunately, the Financial Services and Markets Commission (FSPC) is not a reliable regulatory organization. They have no authority over the investing services that they supervise. The financial aid was intended to lend credibility to these Ponzi scams.
You can’t compare a financial regulator like this to well-known financial watchdogs that have strict regulations for investment firms. Only invest with companies that have been granted a license by the FCA, NFA, CySEC, or ASIC. The bodies are adamant about protecting their residents from market con artists. Serious investment firms adhere to their guidelines, whereas Ponzi schemes falsify or refuse to obtain regulatory documentation from them. It’s because they exist solely to deceive investors.
Clients who have placed monies with 10Brokers, on the other hand, have expressed dissatisfaction with the way the company operates. They will only contact you if they require additional funds. They also contact you using a random phone number. They will cut off all communication with you if you request a withdrawal. The platform just cares about your money. The platform is not designed to make anyone wealthy.
Do you suspect that someone had scammed you?
If you have any suspicion of a scam or phishing attack, then you can rely on TheClaimers to help you with protection, mitigation, and fund recovery. You will feel safe knowing that experts with years of experience will be guiding you!
10 brokers are conducted by skilled con artists that seem to be friends with investors in order to persuade them to deposit money. Unfortunately, they will purposefully lose money when you make withdrawal requests. Investors are unable to withdraw their monies from the company. They’ve also ceased responding to emails from users. Stay away from this place because of its terrible reputation. The money will appear on your dashboard, but you will not be able to withdraw it.
They recommend that you wait three weeks for the withdrawal process to finish. They do not, however, disburse the funds even after the period has ended. They would phone you using other identities after the first time they scammed you and ask for more money. Scammers are wolves on the prowl that will leave you high and dry. They use various phone numbers to contact people. You will only make money in the beginning. After that, you’ll never make any money.
We reached out to a couple of the investors that had a run-in with 10Brooker.com, and the following is what they said:
“I lost a huge sum of money to a phony Binary Option Broker. It all started with a phone call, and after some persuading, I chose to invest. After months of a consistent investment of roughly 130k$, I decided to ask for a payment, and to my surprise, I was still requested to invest more. As a single father, this had a significant impact on me, and despite my best attempts, I was unable to contact them.
“Unfortunately, I was duped by 10brokers; I tried contacting them multiple times, but they only responded via email” (sometimes). When I tried to contact them, I discovered that my account had been debited for 15,000 € and then € 120,740 €. Their response was that the account had been inactive for too long and that there would be a penalty, so they reset my bill without allowing me to speak to anyone. I had no choice but to employ legal corporate force because these people, these bogus companies, must realize that they cannot deceive people in this manner.”
Security of Funds in 10Brokers
The platform does not provide financial security to its users. The area where they claim to be based is notorious for being a center for Ponzi schemes. 10Brokers does not adhere to the rules set out by numerous financial institutions. They don’t separate their funds, therefore there’s a good chance they’re transferring money to the scammer’s account. The fact that no financial institution information has been provided says it all. The company does not have a compensation plan in place in the event of insolvency.
The entity in charge of this company’s operations has even lost its FSPC license. The platform is run anonymously, and we have no idea what qualifications their personnel possess. KHO TEHCH limited has a bad reputation online, and we would not recommend that any investors use their services.
10Broker is not a Forex broker with a license. The corporation will break the law, putting its investors at risk in the process. The platform will not last long in the market, and it is predicted that it will be shut down once it has stopped defrauding investors. It’s also unclear who 10Brokers’ CEO is. When interacting with nameless entities, it would be beneficial if you were extremely cautious. Furthermore, the corporation claiming to be behind this firm’s actions has been linked to fraudulent activity. To avoid being cheated, invest with a legitimate Forex trading brokerage.
CHAPTER 2: 1960 Binary
The platform includes various stock photos, including an image of an office. 1960 binary trade has a hazy area that displays the number of days it has been in business. The numbers of their current total investors in the platform are likewise suspect, and their transparency should be questioned at first glance. Because the company does not provide its bank account information, the security of funds is unknown. The platform accepts a variety of currencies, but the withdrawal method is not specified. The investing firm lacks financial documents to back up its claims of being a legitimate platform. There are better cryptocurrency companies that can assist investors in earning real-time market returns.
The bulk of Pyramid scams employs the usage of stock photos to entice unsuspecting investors. 1960 binary trade has capitalized on this tendency by providing fictitious CEO and founder photos. The location of the 1960 binary trade remains unknown, and the platform’s owners face jail time for breaking and operating against the law. It is impossible to trace your contacts once you have lost money to this fraudulent platform. If you fall for their bait, you risk losing your hard-earned money.
On its website, bogus testimonials claim to have achieved big returns, luring customers to join up for higher commitment plans. Although Bitcoin price charts were used, most astute investors will recognize this as a dirty money-laundering operation.
Regulation and Support
The company claims to be based in the United Kingdom. Any corporation operating in the United Kingdom, however, must be licensed by the Financial Conduct Authority (FCA). This regulatory organization does not apply to 1960binarytrade. As a result, this platform has been designated as an illegal investment firm. In most nations, the government has established guidelines to safeguard the people from scams. For indulging and getting money from people all across the world, 1960binarytrade faces criminal punishment. The refusal to provide licensing certificates to investors demonstrates that this programme is swiftly going against established trade norms.
The platform seeks to gain your trust by displaying a forged certificate of incorporation on its website. Because the company is run by con artists, don’t provide them any personal information. If you have a question, you can email customer service at [email protected] Despite the fact that an email address is supplied, a response is not guaranteed.
Legitimate trade platforms provide a phone number to gain traders’ trust, but you must be a VIP member of 1960binarytrade to receive the phone number. Any trading platform that wants to earn investors’ trust must be transparent. You should think twice before spending your money, otherwise, you could lose a lot of money. The company number is also provided, but upon further investigation, we discovered that the registration number is a forgery.
DO YOU SUSPECT THAT SOMEONE HAD SCAMMED YOU?
If you have suspicions of a scam or phishing attack, you can rely on experts to help you with protection, mitigation, and fund recovery. You will feel safe knowing that experts with years of experience will be guiding you!
Investment Plans & Returns They Use To Trick People
1960 binary trading, like any other scam site, offers figures that may entice a large number of investors without them realizing they are being duped. Plan A, B, C, and D are the four investment plans available on the site. With a minimum and maximum deposit of $300 and $1000, respectively, Plan A Mini Plan offers investors a 35 percent profit. The Silver Plan pays a 50% return and allows you to deposit up to $5000. Profits of 70% are guaranteed with a deposit of $20,000 in the gold plan. The Platinum plan is the pyramid scheme’s last pack, which offers profits of 85% and no limit to the amount of money you may deposit in their system.
If their estimated profits were correct, you would become a billionaire overnight. These figures should not entice you to trade with the company; instead, such Ponzi schemes should be avoided. The platform primarily concentrates on deposits, and you may never hear from them again once you payout.
1960binarytrade, like all other scammers, uses referral programs to drive visitors to their website. The firm features an affiliate network, and existing clients are encouraged to suggest new investors to their platform. 1960 binary trade will leave the market without being traceable if it does not receive any revenue. They pay their pioneer investors with money from new clients. You should not, however, believe everything you read on the internet. Pyramid schemes employ a variety of unscrupulous marketing techniques. They employ promoters to bolster their claims. As a result, you may come across positive testimonials, advertisements, videos, and blogs promoting the 1960 binary trade. When an offer appears to be too good to be true, proceed with caution and reasoning.
1960binarytrade.com is a fictitious trading platform that claims to offer investors a big, amazing profit. As soon as the registration formalities are completed, the investors who fall for this fraud will begin receiving returns. Investors can make money by using Bitcoin cloud mining services. However, a slew of accompanying hazards keep major platforms from achieving the ridiculous returns that the 1960 binary trade offers. The company promises to offer a bitcoin investment solution. According to the website, they are one of the greatest cryptocurrency trading platforms.
Regrettably, they do not appear among the market’s leading crypto firms. The platform boasts that it has worked with both developing and classic mining technologies. 1960binarytrade.com deals in a variety of cryptocurrencies, including BTC, XRP, ETH, and ETC. The expansion of trade markets has made it more difficult to achieve large returns in a short period of time. Despite this, the investment firm uses ICO projects to guarantee investors fraudulent returns in a short amount of time.
According to the platform, they have a skilled team in charge of their financial operations. They have a lot of experience in the financial industry and hence have a lot of expertise. We’ll go through some of the company’s key red flags in this assessment. They keep a close eye on the crypto market in order to maximize your gains. The returns that this platform promises are vastly exaggerated. 1960binarytrade.com will persuade you that they employ sophisticated investment strategies such as financial leverage. Investors who have worked in the trading industry know that a 100 percent return guarantee is difficult to come by.
Regrettably, they do not appear among the market’s leading crypto firms. The platform boasts that it has worked with both developing and classic mining technologies. Despite the fact that crypto trading generates profits for investors, patience and a broad understanding of the market are required. Due to the volatile nature of digital money, revenues in this segment are not assured. You can fall prey to these rich pyramid schemes. We contacted a few of the investors that had a run-in with 1960 Binary and this is what they had to say:
“My recommendation to anyone is to stay away from the 1960 Binary Options firms and to remove all of their money once they have made their first earnings.” Several of these businesses have taken advantage of me.”
Authorities have discovered that numerous unregulated companies are utilizing clone websites to target residents, and have issued a warning to all traders not to interact with any unregulated companies and not to be pulled in by their false marketing of unrealistic returns on investments. Advertisements may be tempting, but at the end of the day, they will also take your money.
You should be wary of the platform because it is a large Ponzi scheme. They are a fraudulent corporation because they are not regulated. To entice investors who do not do their homework before trusting trade platforms, the platform uses fake information such as deposit and withdrawal data.
The location provided by 1960binarytrade on their website is fictitious and chosen at random. Everything about this site is deceitful and deceptive. Invest exclusively with legitimate platforms that adhere to strict guidelines. Investor trust is boosted by bank information and contact information on legitimate trade platforms.
CHAPTER 3: 1St Ventures
Scam brokers are the sharks in the ocean if internet trading is a day at the beach. It’s difficult to tell the difference between reputable financial services and scam brokers, especially when there are so many fake trading sites that appear much like the real thing. Our staff has decades of experience in the financial field as well as in identifying and investigating scams. We’ve counseled a number of individuals who have been scammed by brokers, and we’d like to help consumers avoid problems before they arise. That is why we have investigated 1St Ventures Review to see if they are a good fit for you.
The current economic condition, the number of time people spend on the internet, and the popularity of trading are all variables that have contributed to an increase in the number of scam brokers. During the COVID-19 crisis, the number of investment frauds skyrocketed, prompting the SEC, or United States Securities and Exchange Commission, to make a public warning to be cautious when investing online.
Potential traders should take their time and conduct their homework. Before signing a contract, creating an account, or making a deposit with a broker, do your homework. Our broker review is meant to give consumers information about 1st Ventures Review and to aid them in their search for other brokers.
How to Find Out if 1St Ventures Review is Legit or a Scam
First and foremost, remember to take your time and thoroughly investigate the 1st Ventures Review. Read evaluations like this one from specialists who have dealt with financial services before and can tell the difference between a trustworthy and a shady broker. Second, don’t be in such a hurry to make money. Consider why you’d like to swap. Scam artists prey on people’s desperation, which can lead them to join up with a broker without carefully considering their options. The following qualities will be considered in our 1St Ventures Review. When evaluating any broker, it is critical to look at these characteristics.
1St Ventures Review warning signs?
1. A Reliable License
The license is the first and most significant factor to consider when choosing a broker. Work with a regulated broker only. Remove any brokers who do not have a license from your list. Also, be sure the license comes from a reputable, high-tier authority, not one that issues licenses to everyone who pays a fee. Because 1st Ventures Review lacks a valid license, no regulatory action can be taken against them. Legal authorities may be powerless to intervene, but regulators can revoke scam brokers’ licenses.
2. Clearly Stated Fees and Account Rules
Scam brokers can steal money from consumers by being vague about costs and only informing clients who have already signed that they can’t withdraw money without paying a fee, or that they owe $100 since their account has been inactive for 40 days. On the website or in the contract, all costs, terms, and conditions must be fully indicated. Visit the website of 1st Ventures Review. The fees and account conditions are outlined on the website.
3. A Trusted Trading Platform
Many brokers use MetaTrader 4 or 5, a dependable trading platform that is suitable for both experienced and inexperienced traders. This is not to say that any broker using MetaTrader 4 or 5 is untrustworthy, but MetaTrader is a reliable platform. Be cautious if 1st Ventures insists on utilizing only their proprietary platform. There are high-quality proprietary systems, but con artists can construct phony versions that don’t actually trade and instead grab money or data.
Customer Support and Trading Tools
The website of 1st Ventures Review includes trading resources including charts, blogs, demonstration videos, and trading instructions. A demo account can also help traders have a better understanding of how to use the platform. There should also be information available to assist clients in making successful trades. Some brokers offer webinars and forums where traders may learn more about the market and share trading strategies. The absence of these resources does not necessarily indicate that the broker is a con artist, and even if they are present, the broker may still be shady, but in either case, tools that assist traders are a bonus.
At first, you may find that 1St Ventures Review greets you with a chatbot and provides friendly customer care, but give it some time. When dealing with competent brokers, customer support stays responsive and helpful, but when dealing with scam brokers, it becomes less so. Some deceptive brokers work hard to entice clients in, but once they’ve made a deposit, they almost disappear, not responding to texts or emails.
Check out 1St Ventures Review’s customer service, but don’t assume they’re trustworthy just because they’re friendly. Checking the contact information to ensure it is really is a vital step. Many con artists utilize fictitious addresses, emails, and phone numbers to make it simpler for them to flee with the money.
You should be wary of the platform because it is a large Ponzi scheme. They are a fraudulent corporation because they are not regulated. To entice investors who do not do their homework before trusting trade platforms, the platform uses fake information such as deposit and withdrawal data.
CHAPTER 4: 365 Binary Option
Binary Robot 365 is a binary options trading robot that claims to help investors make thousands of dollars every day. An unnamed person established the site in 2016. We have not authorized the 365 Binary Option, and it is just targeting persons in the United Kingdom. If something goes wrong, you won’t have access to the Financial Ombudsman Service or the Financial Services Compensation Scheme (FSCS), so you’re unlikely to get your money back. Binary Options are a type of option in which Scams can be fatal. Options scams have the potential to lead to debt traps since the scammers entice their victims with enticing offers and discounts. In this section, we’ll discuss a few key characteristics to look for in a broker before deciding to open an account with them. Remember that no one has a legal claim to your money.
365 Trading and Regulation
As you may be aware, one of the most crucial checkpoints to look for while looking for a brokerage firm is regulation. Due to an increase in the number of scammers in the market, legislation has been enacted to erect barriers to keep the scammers out. They did this by introducing licenses. A corporation must pass a series of exams in order to obtain a license. These examinations, however, are not as simple as they appear. If a business does not have a license, it is considered UNAUTHORIZED and unable to trade. Because 365 Trading is unregulated in our instance, this raises the first red flag in this 365 Trading review.
365 Trading and Minimum Deposit
The minimum deposit is typically requested in small quantities by legitimate brokers, as taking large amounts as the minimum deposit is not recommended by laws. Scam brokers, on the other hand, have a long history of demanding large minimum deposits in order to steal as much money as possible from traders before they become suspicious. The typical sum requested by professional brokers is between $5 and $10. 365 Trading requests a higher fee than the industry standard, indicating that they are a scam.
DO YOU NEED EXPERT ADVICE?
We have encountered victims who were mentally and emotionally drained when they were scammed out of their money. We can help you with your legal and technical concerns. We can help you get your money back.
365 Trading and Leverages
Another popular criterion to look for when looking for a broker on the internet is leverage. Leverages are offered in small amounts due to their direct involvement with the risk. In Europe and the United States, the leverage is even regulated at 1:30 and 1:50, respectively. If 365 Trading offers additional leverage, it’s a hint that it’s a probable binary options scam broker in 2021.
We contacted a few of the investors that had a run-in with 365 trading Binary and this is what they had to say:
“I was unable to make a withdrawal from their internet withdrawal link. I had previously deposited $250 and was contacted by the broker, who requested that I deposit $1,000 so that he could place me on Bitcoin. And he promised to return my entire investment once I made a profit. But he is no longer contacting me or responding to my messages. Now that I have over 1800$ in my account, I want to withdraw, however, the withdrawal link on the website has been disabled, and the withdrawal tab isn’t working. I emailed their support center and was told that they would arrange for withdrawal, however, based on the reviews, it appears that they won’t. Pls. advise how I can get my money back and I would suggest not going with this broker.”
“I started trading with 365binaryoptions.com in June of this year. No, I would not advise anyone to use them. They’re simply interested in seeing you spend every last penny you have. They speak quickly, talk over you, and are aggressive. I’ve signed up with a chargeback business to see if I can get any assistance in recovering my money.”
“Leah Hill will advise you that you’re wasting your time with $25 transactions and that you should put your life savings into something that will make you win and give you VIP status.” She put four huge deals on four months later, swift kill…. They’re all going to die… Gone… Next, David, the account rescue manager, phones you and informs you that your account has been suspended due to unethical behavior. He requests that you deposit additional money and he will reinstate your account…. They were talking about a six-figure sum. My name will not be revealed because I was so gullible that I fell for this… “WARNING”
“365binaryoption is a slick, sophisticated team of fraudulent scammers led by account managers with exceptional skills at lying and sending you through to “top trading specialists” who are skilled at bragging about their abilities before they lose all your money in 10 minutes. The account manager then returns, pretending to be astonished and capable of saving you if you only deposit more money into your account. They profit on your losses, so you win a little and then lose a little, gradually accumulating total losses. They add a “bonus” to your account as you lose since you are “special” to them. However, the incentive entices you to trade and never receive anything in return. And they continue to take a part of your winnings. Of course, they don’t care if you win since as soon as you deposit, your money is whisked away as quickly as they can – keeping you in a traumatized victim mindset, expecting that your account manager genuinely cares for you and would assist you financially. Their main goal is to keep you trading, whether it’s with their money (bonuses) or your own.”
No, trading with 365 Binary Option is not safe. Given that major financial agencies in Australia, Ireland, the United Kingdoms, and elsewhere have considered it hazardous, this is our official conclusion. If a broker is not licensed by your jurisdiction’s regulatory authorities, it is likely that they are uncontrolled and should be avoided. Given that 365 Binary Option has been blacklisted, it would be foolish to invest in such a firm without first understanding what you are doing.
CHAPTER 5: 4xFX
GRF EUROPE OÜ, an Estonian company that purports to be registered with the Register of Economic Activities, owns and operates 4xFX, a Forex and CFD broker. However, this does not imply that the broker is regulated or authorized to provide its services, as the register is merely a record with no regard for the company’s long-term viability or delivery of financial services. Despite this, every EU-based company should have a license that verifies the company’s long-term viability before offering its services to the market and potential customers.
Despite the fact that the company claims to provide reliable and secure financial services by adhering to high regulatory and financial standards, it is not licensed or controlled by any credible organization. As a result, 4XFX joins the thousands of other non-regulated trading platforms with which we do not recommend dealing.
Several regulators have also barred the broker:
“The business listed below (4XFX) has made unsolicited calls or sent emails about investing, financial advice, credit or loans and does not hold a current Australian Financial Services (AFS) license or an Australian Credit license from ASIC.” ASIC, 10 January 2019
“Finantsinspektsioon (the Estonian Financial Supervisory Authority) would like to inform clients and investors that GRF Europe OÜ does not hold an activity license for the provision of investment services in Estonia and therefore GRF Europe OÜ is not authorized to provide investment services in Estonia.” Estonian FSA, 14 January 2019
All investors and traders should stay away from 4xFX and other unlicensed firms. Traders should use properly-regulated brokers like UK brokers or Australian brokers, as well as reputable brokers like IG Markets and XM.com.
4xFX may appear to be just like any other broker. It may have a great website or busy social media page, a friendly demeanor, claim to have a legitimate license and make you an irresistible offer, such as a 1% daily return on bitcoin trading. You do the math and figure out that you’ll be seeing triple-digit returns in no time.
So, what have you got to lose? It’s all your money. Not all cryptocurrency frauds are obvious. At first glance, they may appear professional and legitimate. They do, however, have a way of luring people in, keeping their money hostage, and convincing them to continue investing. Customers do not want to think that brokers such as 4xFX are defrauding them since they have already invested so much money and want the nightmare to end.
However, because fraudulent brokers do not refund money to their victims freely, successful fund recovery is the only way to put an end to the nightmare. Ending the denial, canceling the account, and, if it doesn’t work, seeking the help of fund recovery pros like Chargeback way are the only options. We’ve compiled a list of reasons why we believe 4xfx is most likely a crypto scam for your convenience. We make it our job to look into crypto brokers and see whether they are legitimate. Sure, you may look at customer review sites, but there’s no way of knowing if they are genuine consumer reviews. These reviews are frequently written by those involved in dubious operations in order to boost their own reputation. Other evaluations could be part of a smear campaign against rivals. This isn’t to imply that client reviews shouldn’t be taken into consideration; they should, but they shouldn’t be the only source of information regarding brokers.
We dug deep into information from authorities, specifics about the site, and used our tried and true method to determine that 4xFX is a suspected crypto broker.
4xFX has been chastised for at least a few of the reasons listed below:
No License or Offshore License
A license is similar to a driver’s license. You would not get into a taxi driver’s automobile if he or she did not have a valid driver’s license. You should also avoid signing up with a broker who does not have a license. However, any license will not suffice. The license must be current and authentic. Many brokers falsely pretend to have a license and may even display a completely fake image. This is why it’s critical to double-check all licenses on the websites of authorities. Some customers may find third-rate or offshore licenses sufficient, but they are not worth the virtual paper they are printed on. These fictitious regulators provide licenses in exchange for money and do not conduct inspections or respond to customer complaints.
4xFX has been blacklisted due to a bad reputation. This is due to a variety of factors, including negative customer reviews, regulatory notifications, and the possibility that 4xFX was the focus of unwanted press attention. You don’t have to work with a shady broker because you can discover one that is trustworthy.
“My initial investment in 4XFX Bitcoin was 300 pounds, then the broker (Mr Noah Nixon) wanted an additional payment of 250 pounds, thus they owe me a total of 550 pounds. Please, I need my money back, and I’m not sure how I’ll be able to receive it. My personal account statement still shows all of the bank transfers.”
“I lost 3000 USD with 4xfx and I want to get my money back PLEASE???!!!!”
4xFX, like many other cryptocurrency schemes, promises unreliable profits. This not only causes dissatisfaction, but it also poses an ethical dilemma for any broker. Risky investments, such as cryptocurrency or forex, are difficult to anticipate and can fluctuate dramatically. There is no way for a broker to guarantee that a customer will make a certain amount of money.
It’s possible that 4xFX did not follow the rules. This is a serious situation that may result in legal issues. This usually indicates that the broker is engaging in illegal operations or signing up customers in areas where they do not have a license to operate.
It’s not easy to get the attention of regulators. The fact that regulatory agencies may have singled out 4xFX for a warning sends a strong message to stay away.
No, trading with 4xFX is not secure. Given that major financial agencies in Australia, Ireland, the United Kingdoms, and elsewhere have considered it hazardous, this is our official conclusion. If a broker is not licensed by your jurisdiction’s regulatory authorities, it is likely that they are uncontrolled and should be avoided. Given that 4XFX is on the blacklist, it would be imprudent to invest in such a firm if you know what you’re doing.
CHAPTER 6: 72 option
72 OptionTM is a Binary Options Trading Broker that is a brand name of Epic Ventures LTD, a company that allows investors to trade underlying assets on a Binary Options Trading Platform. The company claims to be based in Sofia, Bulgaria, and to have an office there, but it is not authorized by the Bulgarian Financial Commission or any other body. 72Option is a well-known unregulated binary options broker that has attracted traders from all over the globe. They had a small number of financial products to offer, but their trading incentive structure was the key reason for their success.
They apparently used to provide services to residents of the United States, which is, to say the least, prohibited. Furthermore, they have numerous visible linkages to a web of binary options scams. As if all of these allegations and data weren’t enough, we discovered more troubling information about them in the feedback area.
Trading binary options or any other high-volatility instrument may appear intriguing at first because of the profit possibilities. Do not, however, allow your avarice to blind you to the truth.
Stick with us to the end to learn everything there is to know about this broker, and we are confident that you will find the following information useful.
WORRIED THAT SOMEONE HAS YOUR PERSONAL & BUSINESS INFORMATION?
With how easy it is for scammers to acquire your data, it’s reasonable to be alarmed. Protect yourself and your loved ones by getting advice from experts. We will guide and even help you get your money back from scammers.
Legality and Regulation
For regulators, binary options have been a problem since their inception. Many fraudsters preyed on the unsuspecting public in the guise of trade, and the entire sector became so tainted that it was outlawed in most developed countries. While there are a few legitimate binary brokers out there, you should always check to see if they are licensed for your own safety. Epic Ventures Ltd owns 72Option, and they claim to be based in Sofia, Bulgaria. Despite the fact that the broker is unregulated, it accepts clients from all around the Western Hemisphere. Many regulatory bodies, including the Hong Kong Securities and Futures Commission and the British Columbia Securities Commission, have issued warnings about them. 72Option is not the type of broker you want to deal with when it comes to trust and credibility. We discovered this broker’s contact information thanks to the web archives, and it is as follows.
Address – Ivan Dimov Nenov 7, Sofia, Bulgaria 1360
Phone – +27 10 594 3775
Email – [email protected]
Lawsuits and Associated Platforms
As we previously said in our article, this broker has been tied to numerous trading scams. Anton Senderov and Lior Babazara are claimed to be the owners of this company. The cases filed against them and their lawyer have caused a lot of drama in the courtroom. In addition to the government, many of their own employees, vendors, and insurance companies have come out against them. Check out this complaint form and this story from the Times of Israel for more information on the complaints that have been filed. Take a look at the list below for the names of the linked companies.
Holy Top Media Ltd (Registration Number – 515075091)
Liantech Finance Marketing Ltd (Registration Number – 514888775)
Note that Holy Top Media is now owned by ABG Altec Marketing Ltd and their registration number is 515581023.
Trading Interface and Conditions
72Option has a Spot Trading interface, which many binary traders are already familiar with. The web-based software is extremely light and offers all of the essential capabilities required by the ordinary trader. On the other hand, the platform does not meet all of the needs of more experienced traders, and the default charting solution is not the finest available. They only provide binary options, with expiry times ranging from 60 seconds to a week. Short-term expiry trades have greater payouts, which can reach 90%, but before you get too enthusiastic, keep in mind that winning them consistently is very hard.
Furthermore, this broker has a reputation for manipulating short-term price fluctuations in their favor. This platform does not allow for any kind of algorithmic trading or social trading. As a result, those who wish to get a feel for trading without spending a lot of time in front of a computer screen should avoid them. They offer roughly 12 major forex pairs, as well as a few commodities and indices, as an asset class. In comparison to other options, the number of financial instruments available to trade is extremely limited. There are a few intriguing exotic alternatives available, such as the ladder and touch or no touch options, but the odds are far too stacked in favor of the house to make it profitable. At the end of the day, there isn’t a single element of this broker that is a “must-have,” and it should be avoided at all costs.
Deposit and Withdrawals
The minimum deposit to open an account with this broker is $250. 72Option accepts wire transfers and credit cards as payment methods. For many, the lack of support for e-wallets is a deal-breaker, and entrusting them with any sensitive information is not a prudent decision.
There is no information on how long it takes them to process deposits. Withdrawals, on the other hand, are said to take 5 to 7 days to reach the client’s account. We don’t know if there are any fees associated with withdrawals. They do offer matching deposit incentives, which in theory sound appealing, but traders should never take them. Accepting a bonus entails meeting stringent requirements such as trading a particular number of lots or achieving other nearly unattainable milestones. Many scam brokers employ bonuses to keep their clients’ money on the platform, and this is one of the legal loopholes that still exist.
So, even if you are dealing with a legit broker, always double-check the bonus requirements and accept it only if you know what you are doing?
Is 72Option a Scam?
72Option is, without a doubt, a Ponzi scheme aimed to defraud retail traders. The number of shady characteristics they use should reveal a lot about their personality. They use every filthy tactic known to man, from manipulating data feeds to duping traders into depositing additional funds in the guise of asset management. Many people have lost thousands of dollars to them, and they are still trying to recover their funds. The official 72Option website is currently unavailable and based on a number of factors, it does not appear that they will ever reopen.
Don’t worry if you’ve been duped by this site and aren’t sure what steps to follow. Contact our specialists by filling out the contact form on our website and providing as much data as possible; we will handle the rest.
Because 72Option was so well-known, they received a lot of positive feedback online. Unfortunately, a few of the remarks were outright lies, but thank God for the majority of them, because they revealed their true nature. We’ve reproduced the comments made by this brokerage’s clientele on Forexpeacearmy below; have a look and see for yourself how nefarious their operations are.
“For me, this has been a nightmare!” They are not genuine; they are market simulations. Keep an eye out for guys who push and don’t write anything down on paper, such as an email of what they say over the phone. Don’t be swayed by pleasantries or grandiose speeches. Don’t sign anything unless you’ve shown someone who is practical or a solicitor and gotten their advice. Don’t be a pushover; you’ll be sorry!”
“Hello, I lost a significant amount of money as a result of my connection with 72 Option. They are now stating that they may release the money to me if I pay their charge first, but I have very little faith in their legitimacy, so they will not receive any funds from me.”
“Total Scam, 72 options, part of the Ivory Options criminals, this is an organized crime from the sewers of Tel Aviv, this is systematic theft from the Tel Aviv Mafia, keep away at all costs.”
We are confident that you are aware of the risks associated with using 72Option’s platform at this point. Unfortunately, this is true not just of this broker, but of the vast majority of unregulated web firms. Always remember that the best trading conditions and fund security can only be found on regulated exchanges, and they are well worth the investment. However, if you have already joined them or any other site that has robbed you, do not remain silent and allow them to get away with it. Collect as much information as possible and contact our team for free assistance.
CHAPTER 7: Abridge Enterprises
The Securities and Futures Commission of Hong Kong licensed Abridge Enterprises Company Limited (“Abridge”) to perform Type 4 (Advising on Securities) and Type 9 (Asset Management) regulated activities in 2002. Since then, they’ve established a company that has lasted the test of time. They have identified opportunities and strived to generate value through early-stage and private equity pre-IPO investments across different industries and locations, notably in the Greater China region’s telecommunications, healthcare, corporate, and real estate services.
Regardless of Abridge Enterprises’ trading terms, we do not advocate trading with them because they are unregulated and likely to be a scam. He has the ability to cause significant losses to his clients and, as a result, we believe he is a possible fraudster. This is to prevent them from withdrawing their funds if they are con artists. Don’t think Abridge Enterprises is legitimate just because you were welcomed by a polite chatbot when you first arrived on the website, or because the broker paid you a lot of attention in the first few weeks. This is not to say that you should be disheartened; trading can be secure and reliable in many circumstances, but only if you choose the correct broker. A good broker should be regulated as well as have a solid reputation, decent trading conditions, and outstanding customer service.
Abridge Enterprises clearly accomplished none of the above, and could not even be considered a broker, but rather a foreign exchange market con. Abridge Enterprises conceals the majority of the transaction terms, which raises suspicion.
Trading Interface and Conditions
Abridge Enterprises, like most brokers in the business, offers the popular MetaTrader 4 platform. Abridge Enterprises WebTrader software provides a handy platform from which investors can access the market without loading memory-intensive software for those traders who wish to check their accounts anytime, anywhere. Many high-quality brokers’ proprietary systems can give an exceptional trading experience. When examining a broker’s case, call customer service, but keep in mind that even rogue brokers will appear polite and helpful at first, only to reveal their true colors later.
These account options may appear appealing, however trading on Abridge Enterprises is a complete rip-off. Many dishonest brokers, for example, charge excessive withdrawal costs that do not just cover service fees. You are unable to withdraw funds from your account. These are some of the red flags that a broker is in difficulty with. Traders should only trade with trustworthy brokers who are well-regulated, such as those in the United Kingdom or Australia. Abridge Enterprises and other Vanuatu brokers should be avoided by all investors and dealers. We do not advocate trading with Abridge Enterprises because they have been linked to fraud.
The FCA urges UK investors not to invest with this broker in general. The Forex broker, on the other hand, does not have the necessary FCA license to do so. The VFSC has granted the Forex broker a license, but this is insufficient to sell financial services or products in the United Kingdom or Europe. Unregulated brokers have the difficulty of being untrustworthy and breaking the rules. Some dishonest brokers will be aggressive with customers, encouraging them to engage in particular trades. Many unregulated brokers (such as Abridge Enterprises), according to reports, defraud people.
Funds are not safe because of a lack of information and unregulated Abridge Enterprises. This is why it’s crucial to research Abridge Enterprises before opening an account, sending money, or submitting any paperwork. The information provided above is insufficient to begin dealing with Abridge Enterprises. Another item that is lacking from the Abridge Enterprises support page is a list of numerous distinct Abridge Enterprises workers, which is something that many other brokers, especially scammers, do not provide.
The biggest issue while looking at Abridge Enterprises was that the broker did not offer his actual address in the contact area. However, if the broker no longer provides contact channels such as email, phone, text messaging, and chat, and has a support crew that does not appear to comprehend the trade or is evasively asking specific questions, this could be a symptom of a fraud or a low-quality broker. During our preliminary research on this broker, we came across a slew of Abridge Enterprises reviews complaining about bad customer service after the initial deposit.
While these platforms might be beneficial in the hands of other brokers, Abridge Enterprises engages in unlawful trading and traders have difficulty withdrawing cash. You can also obtain your money back from Abridge Enterprises by contacting one of the Fund Recovery businesses on our list.
Some brokers specialize in one area, such as foreign exchange, while others offer a wide range of trading items. We talked about trading products like stocks, commodities, ETFs, foreign currency, options, CFDs, bonds, indices, and cryptocurrencies in our broker review. In certain Forex trading scams, the fraudulent broker will only provide their own platform, which may or may not be genuine. Try customer service when investigating a broker issue, but bear in mind that even rogue brokers might appear friendly and helpful at first, only to reveal their true colors later.
The broker’s trading interface should be simple to use and intuitive enough for traders to rapidly access their accounts and trade. To assist consumers with daily transactions, the trading platform should be highly easy and user-friendly. A sophisticated trading platform with comprehensive analytical tools and the most up-to-date foreign exchange technology is required of the broker. A good broker should not only be regulated, but also have a solid reputation, good trading conditions, and good customer service. Clearly, Abridge Enterprises accomplished none of the above, and cannot even be considered a broker, but rather a foreign exchange swindle. Abridge Enterprises conceals the majority of the transaction terms, which raises suspicion. In conclusion, regardless of Abridge Enterprises’ trading circumstances, we do not advocate trading with them because they are unregulated and may be a hoax. They have the capacity to inflict significant damages to their consumers, so we believe they are prospective liars.
Their Scamming Techniques
Some brokers offer a diverse range of trading items, while others focus on a single topic, such as a foreign exchange. Traders should only trade with well-regulated and reputed brokers (such as those in the United Kingdom or Australia). Whatever trading products you find in the Abridge Enterprises evaluations, double-check that they have authority to trade the products they sell. Many high-quality brokers’ proprietary systems can give an exceptional trading experience. Brokers of this type are merely needed to give convenient access to trading instruments. Unregulated brokers have the difficulty of being untrustworthy and breaking the rules. We do not advocate trading with Abridge Enterprises because they have been linked to fraud. The FCA urges UK investors not to invest with this broker in general.
Regulation and Support
This is not possible because the Forex broker lacks the necessary FCA license. The VFSC has granted the Forex broker a license, but this is insufficient to sell financial services or products in the United Kingdom or Europe. In any event, Vanuatu is an offshore jurisdiction, and we advise traders to select their brokers wisely. Abridge Enterprises and other Vanuatu brokers should be avoided by all investors and dealers. If you want to trade foreign exchange, cryptocurrency, CFDs, or commodities, paying close attention to the broker you use can help you avoid broker fraud and avoid broker withdrawal troubles.
The most prevalent symptom of a Forex trading or broker scam is that the broker is either unregulated or has a low-quality regulatory license. Any Abridge Enterprises reviews will not only tell you whether or not the broker is licensed, but they will also tell you about the regulating body and whether or not the license is top-notch. However, if the broker no longer provides contact channels such as email, phone, text messaging, and chat, and has a support crew that does not appear to comprehend the trade or is evasively asking specific questions, this could be a symptom of a fraud or a low-quality broker.
During our preliminary research on this broker, we came across a slew of Abridge Enterprises reviews complaining about bad customer service after the initial deposit. While these platforms might be beneficial in the hands of other brokers, Abridge Enterprises engages in unlawful trading and traders have difficulty withdrawing cash. These account options may appear appealing, however trading on Abridge Enterprises is a complete rip-off. Most brokers have different accounts depending on how much money is being traded. They may also provide benefits to high-volume traders, such as decreased commissions or spreads.
Potential investors can also test drive the Abridge Enterprises trading platform for free before committing to a free demo account. The Vanuatu Financial Services Commission regulates the broker, which offers investors a comprehensive trading environment that includes amazing assets, platforms, trading options, and market options that may please a wide range of traders, from novices to specialists. need. Abridge Enterprises, like many renowned brokers, offers a variety of account types to fulfill the demands of different types of traders, from beginners to pros. The broker provides you with many platforms through which you can access and trade various instruments.
We are confident that you are aware of the risks associated with using this platform at this point. Unfortunately, this is true not just of this broker, but of the vast majority of unregulated web firms. Always remember that the best trading conditions and fund security can only be found on regulated exchanges, and they are well worth the investment.
CHAPTER 8: A M Global Management
Most consumers will read a review before making purchases on eCommerce platforms. It is perhaps even more important to do a careful check on brokers before signing up for their services. When you sign a count before completing an online purchase, the majority of customers will read a review. It is possibly even more critical to conduct thorough background checks on brokers before engaging their services.
When you sign a contract with a broker and deposit money to trade with them, you are putting your trust in them. Sign up with a broker only if you are confident that this level of trust is warranted. We conducted a thorough investigation into the A M Global Management Scam and would like to share our findings with you. Years of collaboration with financial industry regulators, banks, and government organizations have aided in the development of our research technique. When you sign up with a broker and deposit money for trading, you are putting your trust in them. Sign up with a broker only if you are confident that this level of trust is warranted.
We investigated the A M Global Management Scam thoroughly and would like to share our findings with you. Years of working closely with regulators, banks, and government entities involved in the financial industry have helped us establish research methodologies. Thousands of people have been protected from broker frauds because of our approach.
HAVE YOU BEEN SCAMMED AND NEED HELP IN FIGHTING BACK?
Scammers can create complex scams that can trap even the most cautious of people. But it’s not too late because we can help you track the damage done by scammers. We can help you get your money back!
Several people have complained that they either received requests to pay exorbitant taxes/fees, are unresponsive to withdrawal requests, or simply refuse withdrawals outright.
One of the worst nightmares that can happen to traders is that they wake up one morning and are unable to access their accounts. One common scenario is when users try to log in and are not allowed to. They may try over and over again but are not offered the chance to change their password or to be able to find the login page. As the website is down and they simply can’t log in, people start to feel that something may be amiss. They may call customer service with no response or send emails that are not answered.
This sounds like a scenario in a horror movie, but unfortunately, it occurs often. Sadly, brokers disappearing is becoming more common. A M Global Management login is unavailable, that may not be a definite sign of a scam. All websites experience technical problems now and again, but if the site provides no solution to logging in, that is a good indication that you have been the target of a scam. We looked into A M Global Management login issues and analyzed this broker’s service. Our analysts conducted a quick investigation into the A M Global Management login and discovered the following information.
From time to time, we all have login issues. You may be asked if you have forgotten your password if this happens on a trusted site. Then you may be prompted to enter your email address and a secret code will be issued to you so you may change your password and log in.
This does not happen, however, with bogus A M Global Management login issues. You’ll just have to type in your username and password again and over, and nothing will happen. You might think it’s a technical issue and try again later, only to get the same outcome. A notice may appear stating that the site is unavailable due to technical difficulties. However, days, if not weeks, pass and the A M Global Management login continues to deny access to your account. You can be confident that A M Global Management is a scam at this stage, although they may have absconded with your assets by this time.
This sounds like a nightmare scenario, one that may be too good to be true. Unfortunately, this is the case. Brokers vanishing and A M Global Management login issues have been a typical occurrence for years, and with the rise in financial fraud, it is getting more widespread.
A high-profile currency trading broker vanished with $1 billion in client assets a few years ago. They talked a big game, claiming to be able to trade $4.8 billion on behalf of 100,000 investors and promising 1% daily gains. That would be a return of 250 percent over a year, which is 25 times more than the S& P 500’s average return. The broker’s excessive boasts should be a red flag that he is a con artist. Unfortunately, it is easy to disregard the hyped-up rhetoric when cunning scam brokers scale down the claims to 1 percent each day rather than claiming outright 250 percent per year.
Contact us before it’s too late if A M Global Management simply vanished one day, or if it notified its clients that the site would be offline for a few days for maintenance and the site never returned. A M Global Management isn’t the only company that does this. Each year, the number of scams such as incorrect broker logins and missing brokers grow.
Is this broker responsive to inquiries regarding their services? Many of our defrauded clients report that the broker was evasive when they sought information. If A M Global Management charges fees for withdrawals, deposits, or leaving an account inactive, be sure the fees are reasonable. If A M Global Management requests a withdrawal tax, you may be sure you’re dealing with a scammer.
Confirm the accuracy of the addresses and contact information for A M Global Management. If the broker did not enable withdrawal of funds unless, under specified conditions, you may uncover that before departing. This is a clear warning sign.
Trading & Platform
Don’t be deceived by a broker who promises you a profit within the first few weeks. This might be used to lure traders in and lull them to sleep. When brokers aim to vanish, they will make the trader believe they are making money, only to vanish with it and everything the trader has deposited later. Check to see if the A M Global Management platform is real and has no negative feedback. If the platform has negative reviews, it’s a clear indication that the A M Global Management platform has a history of enabling scam brokers.
Scam broker A M Global Management Online has been suspected. We do not suggest dealing with them, and if you are now trading with A M Global Management Online, you should contact them right away to try to get your money out. If you’re having trouble logging into AIM Global Management, it’s possible you’ve been the victim of a broker scam. If you’re experiencing trouble logging in or your broker’s website has been down for an extended period of time, contact our experts for advice on the best course of action. Our staff of professionals is well-versed in all forms of fraud, including broker login issues. To handle client concerns, our personnel collaborate closely with regulatory agencies and financial industry leaders. If you’ve experienced any of the following, be sure to report a fraud.
Know Who’s An Authentic Broker & Who is A Fraud!
These firms do not have a Forex brokerage license. They’ll break the law, willingly jeopardizing their investors’ interests in the process. It is believed that their platform will not last long in the market and that they would quit once they have stopped defrauding investors. When interacting with nameless entities, it would be beneficial if you were extremely cautious. Furthermore, the corporation claiming to be behind this firm’s actions has been linked to fraudulent activity. To avoid being cheated, invest with a legitimate Forex trading brokerage.
do you need help?
A lot of those who contact us have questions and concerns about their personal and business data being compromised. We aim to arm you with the legal and technical know-how in the fight against scams. Also, we will be able to refer you to top scam recovery agencies.
Please fill up the form. Rest assured that our support team will get in touch with you