Forex & Stock Trading Scams

Forex & Stock Trading Scams are one of the most common type of Investment Scam. There are thousands of websites that claim to generate profits by trading in the forex or stock markets. Investors are asked to make deposits, usually using Bitcoin or other cryptocurrencies, with the promise that they will be given profits to the tune of 1% to 3% a day. However, these websites are not operated by traders but by scammers. Once the initial investment has been made, fake profits will be shown on the platform, following which the scammers will demand additional fees to withdraw the non-existent profits.

This article was first published by the Financial Services and Markets Authority During the last weeks, the FSMA continued to receive complaints from...
Our Intel Team recently came across a forex and commodities broker called Hot Forex (hotforex.com). Their website shows they have been running a...
I want to raise awareness on the Pig-Butchering scam or Sha Zhu Pan in Chinese. So called because victims are patiently worked on every day for 1-3...
What is Forex Trading? Forex, also called foreign currency trading or foreign exchange trading, is the process of exchanging one currency for...

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As the influence of the internet rises, so does the prevalence of online scams. There are fraudsters making all kinds of claims to trap victims online - from fake investment opportunities to online stores - and the internet allows them to operate from any part of the world with anonymity. The ability to spot online scams is an important skill to have as the virtual world is increasingly becoming a part of every facet of our lives. The below tips will help you identify the signs which can indicate that a website could be a scam. Common Sense: Too Good To Be True When looking for goods online, a great deal can be very enticing. A Gucci bag or a new iPhone for half the price? Who wouldn’t want to grab such a deal? Scammers know this too and try to take advantage of the fact. If an online deal looks too good to be true, think twice and double-check things. The easiest way to do this is to simply check out the same product at competing websites (that you trust). If the difference in prices is huge, it might be better to double-check the rest of the website. Check Out the Social Media Links Social media is a core part of ecommerce businesses these days and consumers often expect online shops to have a social media presence. Scammers know this and often insert logos of social media sites on their websites. Scratching beneath the surface often reveals this fu

So the worst has come to pass - you realise you parted with your money too fast, and the site you used was a scam - what now? Well first of all, don’t despair!! If you think you have been scammed, the first port of call when having an issue is to simply ask for a refund. This is the first and easiest step to determine whether you are dealing with a genuine company or scammers. Sadly, getting your money back from a scammer is not as simple as just asking.  If you are indeed dealing with scammers, the procedure (and chance) of getting your money back varies depending on the payment method you used. PayPal Debit card/Credit card Bank transfer Wire transfer Google Pay Bitcoin PayPal If you used PayPal, you have a strong chance of getting your money back if you were scammed. On their website, you can file a dispute within 180 calendar days of your purchase. Conditions to file a dispute: The simplest situation is that you ordered from an online store and it has not arrived. In this case this is what PayPal states: "If your order never shows up and the seller can't provide proof of shipment or delivery, you'll get a full refund. It's that simple." The scammer has sent you a completely different item. For example, you ordered a PlayStation 4, but instead received only a Playstation controller.  The condition of the item was misrepresented on the product page. This could be the