December 5, 2022

Forex, cryptocurrency and stock market fraud schemes

In financial markets, it’s easy to lose money as a result of your own wrong actions, but big the number of people engaged in a deliberate "divorce" of gullible customers, acting on proven schemes.

This article was written by a blog reader who lost about 9,000 euros as a result of fraudsters.

1. Overflow of accounts

For this purpose it is necessary to find two or moreinvestors with equal deposits or consolidate accounts approximately equally. Buy opens on one account, sell on another. Sometimes this is again done on the entire deposit, as a result of which one depot merges and the second doubles. They say goodbye to the merged investor, they say, excuse me, it didn’t work, but they share a profit with the lucky one. I practically did not encounter such facts in real life, but I know that this happens. Although most often the manager merges the investor or PAMM account as a result of his own mistakes, over-trading, etc.

2. Pseudo-brokers

These guys discover fraudulent resources andthey start calling people with cold calls, promising easy money, appearing to be experienced brokers and cool managers. They are trying with all their might to force the client to open an account for a small amount and earn a small profit for him.

An automatic adviser is allegedly hung on the account,who himself opens deals or is given an "experienced" manager who makes deals or gives recommendations to the client. Earn immediately almost always.

-See how easy it is? Passive income, you only need to fund your account!

As a result, people take out loans, go into debt andafter this, the second part of the Marlezon Ballet begins - customer accounts simply “merge”. Often, during the drawdown, unprofitable transactions are located and asked to replenish the account in order to exit the drawdown. Sometimes they even allegedly replenish "their" money. In fact, no transactions are entered into the interbank market or the market; everything is drawn in the kitchen terminal at market quotes, but without entering the real market. Money is already "sawn" by scammers and they will milk the client to the last. Some have been milked for years.

But not everyone is cheating so rudely. Forex, cryptocurrency and stock market fraud schemes

According to statistics, 95% of customers levy funds - inthe result of their own mistakes. Therefore, it is not necessary to bring deals to the market; it is not profitable. It’s easier to appropriate funds. But if the client earns something, then everyone will get him out without problems. The exception is if the client suddenly made a lot of money, and there was no place for the broker to take it, they were not brought to the market. Then the problem arises.

3. Pseudo-investments

Other companies open supposedly an investment service, for example, this was the case with Forex Trend, MMCIS and Panteon Finance. These fraudulent schemes have worked for about 5 years.

They had fake stewards who paintedstable profitability in order to attract investors. When the organizers of the pyramid decided to curtail their activities, the withdrawal of money stopped under the pretext of technical problems, updating the system, or something like that.

People were fed breakfast and only throughHalf a year or a year, it became clear to almost everyone that money could not be received back. But even then, they still tried to cash in on the deceived investors by organizing a new broker who allegedly accrued bonus to all the victims. "Bred to the headstock" again.

If you want to trade forex, cryptocurrencies,stock exchange - choose proven sites, look for reviews on the network, ask friends and choose old and trusted companies. You can not borrow. Trade on your own and only on the amount that you are not sorry to lose. And if your manager has made a drawdown - to replenish the account in order to save the remains - it is not necessary.

If you are deceived, contact the law enforcement authorities. But the money will most likely not be returned.

Other scam schemes on the Internet can be found in the article Internet fraud: 14 types and schemes of fraud on the network.

Original post on my blog.