The Financial Services and Markets Authority (FSMA) of Belgium today issued a warning against fraudulent trading platforms. These platforms are all over the Internet, trying to lure investors with promises of quick and easy earnings.
How does a fraudulent trading platform work?
- Modes of contact: Fraudsters use various techniques to contact their victims: a fake news article that mentions a celebrity, online advertisements, a fake account on social media, a dating app or even a “lost” message. In each case, the platform attracts investors by promising them very high returns in a short time, often well beyond the sorts of gains that are realistic.
- Registration: Interested investors register on the platform and deposit funds to their trading account. Most of the time, investors begin with a relatively small sum (e.g. €250). In some cases, the swindlers offer to help victims by taking over their computer remotely in order to make certain transfers on their behalf, which also allows them to use viruses and spyware, for example.
- Manipulation and pressure tactics: Once the funds have been deposited by the victim, the platform will manipulate the transactions to give the impression of significant profits. These earnings are fictitious, and the funds have not really been invested. The fraudsters then put pressure on their victims to invest more and more money (repeated phone calls, time-limited offers, threats, etc.).
- Withdrawals are impossible: An initial withdrawal of a small amount is sometimes possible, thereby giving victims more confidence. However, once an investor wishes to withdraw a larger amount, the fraudsters use various pretexts not to make it possible (high costs, taxes owing, etc.). In the end, the fraudulent platform disappears, taking with it all the investors’ money.
The FSMA notes that the following websites were putting consumers in touch with fraudulent trading platforms:
- Algo Education (http://algoeducation.io/);
- Bitcode Method (https://bitcode-method.com/; https://bitcodemethod.org/; https://bitcode-ai.live/);
- Immediate Peak (https://immediatepeak.io/; https://immediatepeak.com; https://immediatepeak.net; https://immediatefuture.io; immediate-peak.com; https://immediatepeak.org);
- Immediate Intal (https://immediateintal.com/; https://immediate-intal.co/; https://immediateintalai.com/);
- Immediate Vortex (https://immediatevortex.io; https://immediate-vortex.com/; https://immediatevortex.co/).
The FSMA strongly advises against responding to any offers made by the following trading platforms:
- 4xai (https://4xai.net/);
- BFTCapitals/BFTCapitalspro (http://bftcapitals.com; https://www.bftcapitalspro.com/);
- Bitlet (https://bitlet.net/);
- Bitnomics (https://bitnomics.co);
- BNP Groups (cloned firm) (https://bnpgroups.co.uk/);
- Chronovalor (https://www.chronovalor.com/);
- CMCapitals (cloned firm) (https://cmcapitals.com/);
- Coinsbit (https://coinsbit.io/);
- CryptoCom AI (cloned firm) (https://crypto-com.ai);
- DCY Markets (https://dcymarkets.com/);
- Easy Trade (http://easy-trade.uk/);
- Fortnomics (https://www.fortnomics.com/);
- FX Margine (https://fxmargine.com/);
- GMT Direct (https://gmtdirect.com/);
- High BTC Stock (https://www.highbtcstock.com/);
- Invotrade (https://invotrade.com/);
- Lasbert (https://lasbert.net/);
- Omega Capital Markets (https://omegacm.net; https://www.omega-cm.net/);
- Opti Market Exchange (https://ome1.vip; http://www.ome2.vip/);
- Parenta Financal Services Ltd (https://www.parentafinancialservicesltd.com/);
- Promarket AI (https://promarket-ai.com/; https://promrk-ai.com/; https://tradingacc-globalic.com/en; https://web.halving-trade.org/; https://web.hlv-trade.com/auth/login; https://pro-mrketai.com/);
- Quopi (https://quopi.ai/; https://quopi.app/);
- Sense traders (https://sense-traders.com/);
- Sfcap/Safecap Investments/Finalto (https://webtrader.sfcap.trade/)
- SkyTarget Ltd (https://www.skytargetltd.com/);
- Swiss-Vests (https://swiss-vests.com/);
- TigersFM (https://www.tigersfm.com/);
- Titanwealth24 (https://www.titanwealth24.com/);
- Tradex4u (https://tradex4u.com/);
- Verify Markets (www.verify-markets.com);
- Vourteige (https://www.vourteige.com/);
- XHPX (https://xhpxpro.com/).
