Foreign Currency Exchange as a Fraudulent FOREX Investment Scam | is a BIG SCAMM WITH FAKE REGISTRATION. (FXCL) Markets Ltd. is compensated by the spread. Leverage may increase gains or losses.
Trading foreign exchange on margin carries a high level of risk, and may not be suitable for all investors. You should make sure you understand the risks involved, seeking for independent advice if necessary.

Registered by the Financial Services Authority (‘FSA’) number 1637 CTD 2018. FXCL Markets Ltd. registered office: Suite 305, Griffith Corporate Center, P.O. Box 1510, Beachmont, Kingstown, St. Vincent and the Grenadines.

Base information about Forex SCAM company:

Real adress in Philipines and company name is:

Company Name: Outstrive
Address: 3rd Floor 399 Enzo building, Makati, Philippines
Phone: +1 (347) 891-7520

Top managment of stealer who scam money of clients:

Juan Belleza Jr
Team Leader
2056 D Kahilum 1 Barangay 870 Zone 95 Pandacan Manila, Philippines
639776459387 / 639155292409

Lea Jean Belleza
2056 D Kahilum 1 Barangay 870 Zone 95 Pandacan Manila, Philippines

James Tulabot
Team Leader

Allen Roel Costales
Sale Manager
522 Tanglaw St. Mandaluyong City Barnagay Plainview

Kristoff Salazar
Sale Team Leader
Unit 1414 Kumagawa Bldg River City Brgy 880 Sta. Ana Manila, Philippines

Xanty Octavo
Sale Manager
8137 Yabut Street Guadalupe Nuevo Makati City , Philippines

Virgilito Dada
Account Manager

Elton Danao
Sale Manager
639175048891 / 639991854086

All of this persons need be condemned and moved in Jail.

!!!!!STOP STEAL Philippines MONEY!!!!!!

We introduce people to the world of currency trading, and provide educational content to help them learn how to become profitable traders. We’re also a community of traders that support each other on our daily trading journey. I’ve created this website to help people earn money through the resources and recommendations that I offer. I also review many companies and programs with facts that you can explore through the many reviews to help you uncover all of the details so that you can make an informed decision to join or not. Also, make sure to share my reviews by clicking on the social share buttons at the bottom of each review to help others. The company also offers residual commissions that use an MLM binary compensation plan structure to pay out these commissions. CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 78.44% of retail investor accounts lose money when trading CFDs with this provider. Review
“Whether the stock market moves up or down, in the currency market you will always make a profit.” These amounts, which are relatively small in the currency markets, actually control far larger dollar amounts of trading. By entering your email address you’re giving us permission to send you news and offers. In many cases, the Reserve Bank of Fiji and other regulatory authorities may not be able to help if the fraudster is unlicensed. If the fraudster is from another country, retrieval possibility are more difficult. If large sums of money have been lost, you could get legal advice to identify avenues in retrieving your lost savings.

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According to the NBI, it affected more than 100, 000 Filipino families. And among the victims were twenty-one police officers and two fire officers, who filed syndicated estafa charges against the company. It’s a broker based in an offshore country for financial services. money stealers Take the example of who is based in St. Vincent and the Grenadines, it’s a country that has a license but it doesn’t allow financial services to be offered in another country. Many brokers use this type of license to defraud people who are new to trading.

The biggest problem is not the firms that trade on exchanges, but criminals running “storefronts” that pretend to be legitimate, Damgard said. One good indicator, though unscientific, is that advertisements for training in commodities trading are starting to appear more frequently in newspapers and other media outlets, he said. Some industry experts say South Florida’s history as a hotbed for telemarketing boiler rooms makes it easy for fraudsters to move quickly into commodities such as currencies when the market gets hot. The racket operated three fictitious entities called the Dubai Options Exchange, the UAE Commodities Futures Board and Cambridge Capital Trading. The jury also found that $5.8 million McCray wired to the Bermuda bank and the car were assets related to the money laundering charges. Prosecutors said this finding could lead to their forfeiture to the U.S. government. McCray faces a maximum sentence of 101 years in prison and fines of $10.5 billion, prosecutors said. They systematically engage in high-pressure sales tactics, typical of a boiler-room operation, and routinely make false or deceptive statements when soliciting customers. They provide little training to its AP’s other than sharpening high-pressure sales techniques.

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According to the SEC, Mr. Rogers hired 140 sales agents to target mostly retirees with promises of “guaranteed profits” and “safety of principal” in covered-call options in foreign currency trading. “Pour a little Panama Jack suntan oil on the situation and you have a perfect environment where investors get burned.” Claiming investment returns of up to 137% while declaring their trading program was fully-regulated, Simmons and Salazar were able to siphon $35 million from over 240 victims, many of whom were elderly. By using the money from new investors to make small payments to established ones, they avoided ever actually trading on the forex market. In today’s struggling economy, fraudsters involved in investment scams, are taking advantage of people’s vulnerability and desperate need for money, by offering high rates of returns with almost no risk at all. You are led to believe that you are investing in a currency futures market which is highly regulated, and a market traded in by large banks and financial institutions whose commissions for trades are no more than two or three points. A Ponzi scheme is a fraudulent investment operation that pays returns to separate investors, not from any actual profit earned by the organisation, but from their own money or money paid by investors who join in later. “Ward used his self-proclaimed expertise in foreign currency trading to steal millions of dollars from family, friends, employees, and other investors. A federal grand jury indictment alleged that as part of the scheme, Mr. Ward offered investors the opportunity to invest in the foreign exchange interbank “spot” market through his fund, the Joel Nathan ForexFund.

Fraud is a crime in Fiji and defrauding people for money or valuables is a common purpose of fraud. Trading FX or CFDs on leverage is high risk and your losses could exceed deposits. The Legacy Group left behind a financial mess worth almost 30 billion pesos; at present, the Philippine Deposit Insurance Corporation said it has already shelled out a total of P11 billion to depositors. Delos Angeles died in 2012, but his failing health prevented him from being arraigned on many of the charges filed against him. Filed syndicated estafa charges against Eleazar Castillo, its chief financial adviser, as well as nine other people, which included an American and two Singaporean nationals. All over the country, Filipinos have fallen prey to them, which has resulted in losses of as much as 80 billion pesos in the last two decades, as well as other dire consequences. Global Clients are trading with Gstaad Brokers Ltd, Office 1 Room 5, Second Floor, Olivier Maradan Building, Victoria, Mahe, Seychelles. They are a regulated by the FSA of Seychelles, with license number SD071. The real SMFX is a trading name of Scope Markets Ltd, which is indeed licensed in Belize, and recently signed to be a sleeve sponsor of UK Premier League club West Ham United. The group also has a CySEC licensed entity SM Capital Markets Ltd, which operates website.

Cease-and-desist order on Rigen, following President Rodrigo Duterte’s closure order of all Ponzi-like investment schemes. The alleged win rate and profits have not been verified by a third party. However, the vendor is showing us results from their Telegram account and also purporting that many of their clients have been making money with this service. If they can prove that their win rate is consistent , then Forex VIP signals’ services can be worth more.

  • The following precautions should be considered before placing your funds with any foreign currency trading company.
  • After fourteen days later, Frank receives $60 from his original investment of $50.
  • This is because new frauds, scams and schemes are arising daily and becoming more sophisticated every day that it is sometimes very difficult to tell a legitimate investment from a fraudulent one.
  • The deception arises because the fraudster sells you a product or an idea that is not accurate and in most cases totally different from what you think you’re getting.

Instead, all signs point out to them running a ponzi scheme type of investment. Besides, every well-informed investor knows that legitimate trading can’t guarantee such a high return with such a low risk. The same thing applies to cryptocurrency – even when it was on its all time high, it was extremely volatile that a consistent high return is not a guarantee. Legally, brokers offering CFD trading, are not allowed to manage your funds, and since 70% of clients lose money, odds are that your money manager will lose your money too. Before trusting someone else with your money, read more about the Crypto Trading Scam. FXVC is an international CFD broker, which began operations in August 2018.

All of these representations were false in that the foreign currency trading generated a net loss for investors, ICM did not keep 80% of investor funds in bank accounts, nor did they use “stop-loss” orders on all trades. Star 10 Rank – When you generate a total of at least $10,000,000 in investment volume on your weaker binary leg you will qualify to earn a matching bonus on all 10 levels of your unilevel pay plan. Star 9 Rank – When you generate a total of at least $5,000,000 in investment volume on your weaker binary leg you will qualify to earn a matching bonus on 9 levels of your unilevel pay plan. Star 8 Rank – When you generate a total of at least $3,000,000 in investment volume on your weaker binary leg you will qualify to earn a matching bonus on 8 levels of your unilevel pay plan. Star 7 Rank – When you generate a total of at least $1,500,000 in investment volume on your weaker binary leg you will qualify to earn a matching bonus on 7 levels of your unilevel pay plan. Star 6 Rank – When you generate a total of at least $500,000 in investment volume on your weaker binary leg you will qualify to earn a matching bonus on 6 levels of your unilevel pay plan. Star 5 Rank – When you generate a total of at least $200,000 in investment volume on your weaker binary leg you will qualify to earn a matching bonus on 5 levels of your unilevel pay plan. Star 4 Rank – When you generate a total of at least $50,000 in investment volume on your weaker binary leg you will qualify to earn a matching bonus on 4 levels of your unilevel pay plan. Star 3 Rank – When you generate a total of at least $20,000 in investment volume on your weaker binary leg you will qualify to earn a matching bonus on 3 levels of your unilevel pay plan.

He is told by the fraudster that in 14 days he will get back his $50 plus a 20% interest. They said they will only allow that if I opened at least 2 trades as per their advice. It was 1 buy and 1 sell at the same time for LTCUSD with the same number of units for both trades. They tweaked the spread in the platform from $2.10 to $15 after just 10 minutes of the trades being opened and caused the trades to go to margin call. And reading some comments they DID assured and guaranteed their investors on the return of their investments. So, an investment of ₱10,000 will yield ₱36,000 a year, every year, for as long as the investor was alive. In this scheme, the Legacy Group promised depositors that their deposits will double in three years. Furthermore, investors will get 12-quarterly post-dated checks that will earn them double the amount of their original investment. This particular scheme was so popular that it went beyond Leyte, where it was started, to attract investors and depositors from Samar and other areas.

*Information not comfirmed*

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