Market news | Rosfinmonitoring warned about “pseudo-brokers”

Rosfinmonitoring warned about facts of financial fraud on the part of “pseudo-brokers”offering remote trading services on financial markets, including Forex.

The department's message mentions: Teletrade, Grandcapital, Delloy Trade, Global FX, Kappabrokers, Go Capitals FX, KBCapitals, 10 Brokers, Swis Trade, Born to Trade, Barclays Trade and WerCrypto.

These companies, using insufficientAwareness of the population of the Russian Federation about the legislative regulation of the securities market and the desire to invest funds with maximum benefit invite citizens to take part in trading on the Forex market or other similar modern markets by depositing funds into a trading account.”

“Subsequently, creating the appearance of holdingtrading transactions, fraudsters allegedly increase the amount of invested funds in a citizen’s account and, under various pretexts, force them to make additional contributions.”

But when a client tries to withdraw his funds, or at least part of the “profit,” the company “zeroes” the trading account and stops contacting the citizen

"Company names may change,use well-known names of banks and global companies and other advertising options to create the appearance of their solidity and trustworthiness for the purpose of misleading and manipulating. In open sources there are numerous reviews about the fraudulent actions of such companies due to the fact that it is impossible to return the invested funds,”

It is emphasized that all of these companies are non-residents of Russia, they do not have a license from the Central Bank of the Russian Federation, and they are not included in the self-regulatory organizations (SRO) of the industry.

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