Rosfinmonitoring warned of the facts of financial fraud by "pseudo-brokers", offering remote trading services in financial markets, including forex.
The agency’s report mentions: Teletrade, Grandcapital, Delloy Trade, Global FX, Kappabrokers, Go Capitals FX, KBCapitals, 10 Brokers, Swis Trade, Born to Trade, Barclays Trade and WerCrypto.
Specified companies using insufficientthe awareness of the population of the Russian Federation about the legislative regulation of the securities market and the desire to invest money with the maximum benefit, invite citizens to participate in trading on the Forex market or other similar modern markets by depositing money into the trading account "
“Subsequently, creating the appearance of holdingtrading operations, fraudsters allegedly increase the amount of invested funds in the citizen’s account and, under various pretexts, force them to make additional contributions ”
But when a client tries to withdraw his money, or at least part of the “profit”, the company “zeroes out” the trading account and ceases to contact the citizen
“Company names may vary,use the well-known names of banks and world companies and other advertising options to create the appearance of their solidity and reliability in order to mislead and manipulate. There are numerous reviews in open sources about the fraudulent actions of such companies on the facts of the impossibility of returning invested funds ”,
It is emphasized that all 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 members of self-regulatory organizations (SROs) of the industry.