The Belgian Financial Services and Purchase Authority (FSMA) today issued a warning of the dangers posed by false trading platforms.
These platforms attract investors online with promises of fast and easy profits. Their bids look attractive, but often they are nothing more than sophisticated scams that can lead to significant losses.
FSMA strongly advises not to respond to the bids made by the following trading platforms:
- Aurudium (aurudium.com, webtrader.graftey-battex.com);
- Berrypax (berrypax.com);
- Boosty Flow (Boostyflow.com);
- Chilla Capital (Clone), FXB Exchange (fxbexchange.com);
- Deal-traders (deal-traders.com);
- Fintradix (fintradix.com, trading-area.fintradix-v4.com);
- Hashxcapital (Hashxcapital.com);
- Lamaco (clone) (lamaco.org, user.lamaco.ltd);
- Lesrouleaux (lesrouleaux.com, webtrader.garnetix.tech);
- Nobu Invest (nobuinvest.com, nobu-invest.com);
- Prival Solutions (privy-solutions.com, web.priv-solutions.com/d/trading);
- Profitbee (profit-bee.com, profit-bee.org);
- Risegrandaction (risegrandaction.com);
- Thexcellfuture, thexelfuthure (excellfuture.com, thexelfuthure.com);
- Total profits (total profits.com)?
- Windelange (Windelange.com);
- Xh pro, xh pro global limited (pc.xhpro.net, xhproltd.com).
FSMA noted that the following website put consumers in contact with false trading platforms:
- Finance Legend (Financelegend.org).
Scammers use various techniques to communicate with their goals, including a false ad that refers to a celebrity, or a message you have received by accident (sms, whatsapp, etc.).
In any case, the platform is trying to attract investors by promising very high returns in an extremely short time, often far beyond the profits that are truly possible.
Interested investors are registered on the platform and deposit funds in their account. In general, investors start with a relatively small amount, such as 250 euros. Sometimes scammers offer to help their victims by taking their device remotely in order to make some transfers on their behalf, which of course allows them to download viruses or spyware.
Once the funds have been deposited by the victim, the platform handles transactions to give the impression that significant profits have been made. However, these profits are fictitious and the funds have not really been invested. Scammers put pressure on their victims to invest more money. They do so through recurrent phone calls, limited time offers in which investors have to respond quickly or with threats.
To gain the confidence of the victims, the scammers sometimes allow them to withdraw a small amount. However, when an investor wishes to withdraw a larger amount, scammers use various roughs to avoid having to refund (high costs, taxes, etc.).
The regulator also noted that some platforms were based on a pyramid structure. Investors are encouraged to hire new participants. Their investment allows for payment of yields to first investors. When it is impossible to recruit new participants, the pyramid collapses.
In all cases, the fraudulent platform disappears completely, taking with it all the investor money.