Warning List of Companies Blacklisted for Conducting Investment Scams

Category: Investment Scams
Length: 19 Pages
Reading Time: 35 Mins

Excerpt: Since the 1610s, the term “blacklist” has been used. An individual who was on a blacklist was suspected of something and should be avoided. A blacklist of workers suspected of being involved in union organizing had been given to potential employers by the late nineteenth century. The purpose was to both silence and punish unionists.

April 11, 2022

Introduction

People who are judged difficult or non-conforming have been placed on government and unofficial blacklists for a long time. Their identities have been erased. They must be avoided where possible and dealt with as if they never were at all. A blacklist is a list of people, businesses, or countries that have been boycotted or ostracized by others due to allegations of immoral or unethical behavior or actions. 

A blacklist is a kind of revenge that usually entails financial hardship for people who have been named on it. Someone who has been placed on a blacklist may find it difficult to do business or get work. Although blacklisting has a long history, governments are increasingly using it to increase the effectiveness of economic sanctions by publicly designating persons, organizations, and nations to avoid.

In effect, blacklisting is a financial sanction intended to prevent anyone on it from accessing communal resources. The purpose of blacklisting is to take away a person’s ability to work. Links to the professional world have been severed. The individual’s reputation and social status have been tainted. In the long run, the blacklist may be discredited. 

The Hollywood 10 were later praised for their bravery after being blacklisted for refusing to give their identities to the House Un-American Activities Committee. Non-performance and unreasonably long delivery delays are among the reasons companies are blacklisted. They consistently fail to deliver satisfactory outcomes, including failure to complete the contract. If you are dishonest, you will be blacklisted as an entity. Dishonesty can take many forms, ranging from simple delusions to outright lies.

In the United States, a blacklist is the outcome of unethical or objectionable action by a firm or group. A blacklist can damage a person’s or company’s reputation and goodwill, as well as erode business and customer relationships and put them in financial jeopardy. Despite the fact that most governments keep blacklists of untrustworthy businesses and suppliers, the threat of blacklisting is far more commonly used than the actual action. When it comes to international economic issues, this is especially true. In 2019, the US government issued an export ban on Huawei, preventing the company from participating in some government procurement projects in foreign nations. 

China responded by threatening to boycott any foreign company that imposed a Huawei ban. Despite the threats, these types of issues are typically resolved without entire countries being placed on blacklists. Cloudwalk Technology, Dawning Information Industry, Leon Technology Company, and a few other companies on the blacklist are highlighted. Scams involving investments are quickly becoming one of the most prevalent types of fraud in the United States. These investments frequently look to be too good to be true, and they almost always are.

Investment fraud refers to a variety of deceptive techniques employed by con artists to entice others to invest. These operations include the dissemination of incorrect or misleading information, as well as the creation of fake opportunities. Scammers will contact victims in a variety of ways, including through unsolicited phone calls, emails, text messages, and social media platforms. Some may use an affinity fraud technique to build relationships within a community, which they will then use to entice victims to invest in their schemes.

Gold gems, offshore investments, new types of cryptocurrency, franchises, and business opportunities are all examples of investment frauds. There are a few red flags to look out for when it comes to investing, such as enormous promises on low-risk, high-return investments or investments with a guaranteed return—opportunities for investment that were not solicited By claiming to have insider knowledge. High-pressure salespeople try to encourage you to make a hasty decision. By utilizing misspellings or poor grammar in texts, emails, or websites, an unregistered trader offers to hide your assets from the man and help you avoid taxes.

This article will consist of a few blacklisted companies, such as:

  • 10Brokers.com
  • 1960 Binary
  • 1st Ventures
  • 365 Binary option
  • 4XFX
  • 72 option
  • Abridge enterprises 
  • A M Global Management 

The good news is that you may take steps to protect yourself. Check the name of anyone selling your investments or stocks on MBS securities.ca and research possibilities and investments on MBS securities.ca to confirm their legitimacy. Payments made through unusual payment methods, such as gift cards, wire transfers, or cryptocurrency, should be avoided at all costs. Slow down and get help from someone you can trust, such as a family member or friend, a lawyer, an accountant, or a financial planner. In order to avoid fraud, we all have a role to play. In this post, we’ll go over why these companies have been blacklisted, as well as how to prevent falling victim to internet fraud. 

On the internet and through email, scams are getting increasingly widespread. Fraud and cybercrime are more likely than any other sort of crime to affect you. Fake ‘free trial’ offers, phony emails, counterfeit merchandise, and big sign-up bonuses are just a few examples of online frauds. Scammers frequently send you a fake email posing as your bank or another respected company, such as HMRC or PayPal. This email will lead you to a website where you must log in using your username and password. The site appears to be identical to your bank’s website, but it’s a scam. Scammers target people of all ages, backgrounds, and financial statuses all across the world. Scammers make up plausible claims to entice you to part with more money or personal information.

Over £27million lost to scams involving crypto and forex investments in 2018/19

Securities and Exchange Commission

If you’re someone who is into Investment, then you’re definitely at the right place. We can give you the best practices in identifying red flags as well as help you in recovering your stolen money from scammers!

Table of Contents

CHAPTER 1: Blacklisted Investment Brokers You Should Never Work With!

piling coins

1. 10Brokers.com

10Brokers is a forex trading platform that offers services such as a forex learning management system, opening a trading account, and live forex news along with others. The financial firm offers CFD, commodities, Forex, indices, and cryptocurrency trading, among other services. The business was established in 2018 and catered to newbies to the market. Traders might take advantage of the company’s large three pip spread. That’s a lot more than their competitors are willing to offer. A respectable Forex firm offers spreads as low as 1.6 pips on the EUR/USD currency pair. 

Rather than investing with this platform, you should look for a more transparent Forex broker who will not put your assets or security at risk. The leverage supplied by 10Brokers is 1:400, which isn’t awful; however, competitor platforms offer traders considerably more leverage. Margin trading entails a significant amount of risk. The more the leverage, the higher the risk. Always remember not to risk money you can’t afford to lose when trading. It has been claimed that 10Brokers.com aids in an investment scam. Let’s look into this and see whether the claim is true or not. Keep reading to find out more.

money in a jar

Expert Analysis of This Organization

On the site, traders can choose from three different account types. There are three types of investment programs: standard, gold, and VIP. The ordinary account accepts amounts ranging from $50 to $5,000, the gold account $5,000 to $10,000, and the VIP account $10,000 to $30,000. The only difference between the accounts is the spread variation. The platform, unfortunately, is unable to debate the range. For more information, you’ll need to contact them. A personal manager will be available to VIP traders, which is a significant difference. Market intelligence will be provided by the managers. Due to the fact that this platform has scammed many investors in the market, you should proceed with caution.

The basic information required by the company is not straightforward. They claim that the smallest amount you can cash in is $50, but they also state that you must deposit at least $500 to use their services. Credit cards are accepted by 10Brokers. They don’t accept standard payment methods like Neteller, Skrill, or PayPal, which are all convenient. Another reason you shouldn’t invest in this company is that it’s dishonest. 

Most reputable Forex brokerages charge less than $500 in fees. It is preferable to start with a little amount of money as a novice trader to avoid losing a lot of money. Once you’ve gained enough experience, you can go big with your investment. The withdrawal information is not adequately discussed. If you don’t understand all of the terms, 10Brokers should not be your trading partner.

man holding an android phone

The company that controls the operations of 10 Brokers is KHO TECH Ltd. It is allegedly registered in Saint Vincent and the Grenadines, a Caribbean country. The business isn’t legal, and it’s also the parent company of MRT Markets, a shady pyramid scheme. KHO TEHCH Ltd. and FGM Technology Ltd. were listed next to the broker’s name. In June 2018, the Financial Conduct Authority (FCA) of the United Kingdom blacklisted FGM Technology Ltd. (trading as 10Brokers): “FGM Technology Ltd trading as 10 Brokers is not authorized by us and is targeting persons in the United Kingdom.” 

Based on the evidence we have, we believe it is engaging in regulated activities that require authorization.” They also claim to be Financial Services Provision Commission members (FSPC). The Financial Services and Markets Commission (FSPC) is unfortunately not a trustworthy regulating body. They have little control over the investment services they oversee. The financial aid was designed to give these Ponzi schemes more credibility.

A financial regulator like this cannot be compared to well-known financial watchdogs that have tight investment firm laws. Invest only with firms that have received a license from the FCA, NFA, CySEC, or ASIC. The authorities are adamant about safeguarding their citizens from market swindlers. Ponzi schemes are fake or refuse to receive regulatory documentation from serious investment firms, whereas serious investment firms follow their requirements.

It’s because they’re just in business to defraud investors. Clients that have invested with 10Brokers, on the other hand, have expressed displeasure with the company’s operations. They’ll only get in touch with you if they need more money. They also call you from an unknown phone number. If you seek a withdrawal, they will stop communicating with you. Your money is all that matters to the platform. The platform isn’t meant to make people rich.

crypto graph

In order to entice investors to deposit money, ten brokers are conducted by expert scam artists who appear to be friends with them. Unfortunately, they will lose money on purpose when you request withdrawals. The company’s investors are unable to withdraw their funds. They’ve also stopped replying to user emails. This location should be avoided due to its bad reputation. You will see the money on your dashboard, but you will be unable to withdraw it. 

They recommend waiting three weeks for the withdrawal process to be completed. Even after the period has ended, they do not disburse the payments. After the first time they conned you, they would call you using other names and demand more money. Scammers are hungry wolves who will leave you high and dry. They contact people using a variety of phone numbers. In the beginning, you will simply make money. You’ll never make any money after that.

If your money was stolen from an investment scam then contact us to help you get your money back!

What’s The Final Verdict on 10Brokers.com?

100 dollar

The platform does not provide users with financial security. The area in which they claim to be based is known for being a hotbed of Ponzi scams. Several financial organizations have rules that 10Brokers does not follow. Because they don’t divide their funds, there’s a good probability they’re sending money to a scammer’s account. It says that no financial institution information has been provided. 

In the case of insolvency, the corporation does not have a compensation plan in place. The FSPC license of the entity in charge of this company’s operations has also been revoked. We have no knowledge of who runs the platform, and we have no notion what qualifications their employees have. KHO TEHCH limited has a horrible reputation on the internet, and we would not advocate using their services to any investors.

10Broker is not a licensed Forex broker. The company will break the law, putting its shareholders in jeopardy. The platform is unlikely to stay long in the market, and once it has finished cheating investors, it is expected to be shut down. The CEO of 10Brokers is similarly unknown. It would be advantageous if you were exceedingly cautious when interacting with nameless things. Furthermore, the company claiming to be behind this company’s acts has been tied to fraud. Invest with a trustworthy Forex trading firm to prevent being duped.

Do you suspect that someone had scammed you?

If you have any suspicion of a scam or phishing attack, then you can rely on EZChargeback to help you with protection, mitigation, and fund recovery

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2. 1960 Binary

A stock photo of an office is among the images available on the marketplace. The number of days that 1960 binary trade has been in business is displayed in a fuzzy region. The figures for the platform’s current total investors are also questionable, and their transparency should be questioned at first glance. The security of funds is unknown because the company does not provide its bank account information. The program accepts a number of currencies. However, there is no information about how to withdraw money. 

The investing firm’s claims of being a genuine platform are not backed up by financial documentation. There are better cryptocurrency companies that can help investors make market returns in real-time. To entice naive investors, the majority of Pyramid scams use stock photographs. 1960 binary trading has taken advantage of this trend by offering images of phony CEOs and founders. The exact location of the 1960 binary trade is unknown, and the platform’s owners are facing jail time for breaching and operating outside of the law. Once you’ve lost money to this fake network, it’s tough to track down your contacts. You risk losing your hard-earned money if you fall for their lure.

False testimonials on the company’s website claim to have generated large profits, encouraging customers to sign up for higher commitment plans. Despite the use of Bitcoin price charts, most savvy investors will recognize this as a filthy money-laundering scheme. Let’s further look into these claims and see how reliable they are.

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Expert Analysis of This Organization

According to the company’s website, it is based in the United Kingdom. The Financial Conduct Authority, on the other hand, requires that each company operating in the United Kingdom obtain a license (FCA). 1960binarytrade is not governed by this regulatory body. As a result, this platform has been labeled as a prohibited investment company. The government has developed guidelines in most countries to protect citizens from scams. 1960binarytrade is facing criminal charges for indulging and taking money from people all over the world. 

The unwillingness to issue investors with license certificates reveals that this scheme is quickly breaking established trade conventions. By posting a falsified certificate of incorporation on its website, the platform hopes to gain your trust. Don’t provide them any personal information because the company is run by con artists. If you have any questions, please send an email to help@1960binarytrade.com. Despite the fact that an email address is provided, there is no guarantee of a response. To gain traders’ trust, legitimate trade platforms supply a phone number, but you must be a VIP member of 1960binarytrade to receive it. 

Any trading platform that wishes to earn the trust of investors must be open. You should consider twice before spending your money; else, you risk losing a significant amount of money. The company number is also provided, but we discovered that regi1960binarytrade.com is a fictional trading site that promises investors a huge, unbelievable profit. The investors who fall for this con would start earning rewards as soon as the registration processes are finished. 

man top on the coin

Bitcoin cloud mining services can help investors make money. However, a plethora of other risks prevents major platforms from obtaining the absurd gains offered by the 1960 binary transaction. The firm claims to be able to provide a bitcoin investment solution. They are one of the best bitcoin trading platforms, according to the website, the station number is a fraud after additional inquiry.

1960 binary trading, like any other scam site, presents figures that may tempt a large number of investors without their knowledge. The four investment plans featured on the site are Plan A, B, C, and D. Plan A Mini Plan offers a 35 percent yield with a minimum and maximum deposit of $300 and $1000, respectively. The Silver Plan offers a 50% return on your investment and allows you to deposit up to $50000. With a deposit of $20,000 in the gold plan, profits of 70% are guaranteed. 

The Platinum plan is the pyramid scheme’s final tier, with profits of 85% and no limit on how much money you can put into their system. If their profit projections were true, you’d be a billionaire in no time. These data should not attract you to trade with the company; rather, you should avoid such Ponzi schemes. The platform focuses mostly on deposits, and once your payout, you may never hear from them again.

us dollar graph

1960binarytrade, like many other scams, promotes its website through referral schemes. Existing clients are encouraged to refer new investors to the firm’s platform through its affiliate network. If a 1960 binary trade does not generate any revenue, it will disappear from the market. They compensate their early investors with funds raised from new clients. However, you should not believe everything you see on the internet. Pyramid scams use a number of shady marketing strategies. To back up their assertions, they hire promoters. 

As a result, positive testimonials, advertising, films, and blogs endorsing the 1960 binary trade may appear. Proceed with caution and logic when an offer looks to be too good to be true. Regrettably, they do not appear among the top crypto firms on the market. The platform claims to have experience with both emerging and traditional mining technology. 1960binarytrade.com is a cryptocurrency exchange that trades BTC, XRP, ETH, and ETC. The proliferation of trading markets has made achieving high returns in a short period of time more challenging. Despite this, the investing organization employs initial coin offerings (ICOs) to promise investors bogus returns in a short period of time.

They have a qualified crew in charge of their financial operations, according to the platform. They have a lot of financial industry experience and thus a lot of competence. In this review, we’ll go over some of the company’s major red flags. They keep a constant eye on the crypto market to make sure you get the most out of your investment. The claims made by this platform are substantially overblown. 1960binarytrade.com will try to persuade you that they use advanced investment tactics like financial leverage. Those who have worked in the trading profession know how tough it is to find a promise of a 100 percent return.

coinbase currency

Regrettably, they do not appear among the top crypto firms on the market. The platform claims to have experience with both emerging and traditional mining technology. Despite the fact that cryptocurrency trading generates returns for investors, it requires patience and a thorough understanding of the industry. Revenues in this area are uncertain due to the unpredictable nature of digital money. You might be a victim of one of these wealthy pyramid schemes.

What’s The Final Verdict on 1960 Binary?

The platform should be avoided since it is a massive Pyramid scheme. They are a sham business because they are not regulated. The platform uses bogus information such as deposit and withdrawal statistics to entice investors who do not do their homework before trusting trade platforms. 1960binarytrade’s website provides a fake location that was chosen at random. This website is false and misleading in every way. Invest only with reputable sites that follow stringent criteria. Bank information and contact information on authorized trade platforms help to improve investor confidence.

uk currency graph

3. 1st Ventures

If internet trading is a day at the beach, scam brokers are the sharks. It can be difficult to tell the difference between legitimate financial services and scam brokers, especially with so many phony trading sites that look identical to the real thing. Our workforce has years of experience in both the financial industry and spotting and detecting scams. We’ve helped a number of people who have been duped by brokers, and we’d like to assist consumers in avoiding difficulties in the first place. That’s why we looked into the 1st Ventures Review to determine if they’re right for you. Let’s take a closer look at 1st ventures and see just how legit they are.

Expert Analysis of This Organization

First of all, remember to take your time and research the 1st Ventures Review completely. Read reviews like this one from experts who have experience with financial services and can identify the difference between a reputable and a dishonest broker. Second, don’t be so eager to make money. Consider why you want to switch. Scammers take advantage of people’s desperation, leading them to sign up with a broker without thoroughly weighing their options. Our 1st Ventures Review will consider the attributes listed below. 

These criteria must be considered when considering any broker. When choosing a broker, the first and most important item to consider is the broker’s license. Only deal with a regulated broker. Remove any brokers from your list who do not have a license. Also, make sure the license is issued by a respectable, high-tier body, not one that grants licenses to everyone who pays money. No regulatory action can be done against 1st Ventures Review because they do not have a legal license. While legal authorities may be helpless to intervene, regulators can withdraw the licenses of scam brokers.

women holding an iphone checking for currency

Many brokers utilize MetaTrader 4 or 5, which is a reliable trading platform for both experienced and beginner traders. This isn’t to imply that any broker utilizing MetaTrader 4 or 5 is shady, but MetaTrader is a trustworthy platform. If 1st Ventures insists on using their proprietary platform solely, be wary. Although there are high-quality proprietary systems, con artists can create fake versions that don’t truly trade and instead steal money or data.

Trading resources, including charts, blogs, demonstration videos, and trading instructions, are available on 1st Ventures Review’s website. A demo account can also assist traders in gaining a better grasp of the platform. Clients should also have access to information that will help them make successful deals. Traders can learn more about the market and discuss trading methods by attending webinars and forums hosted by some brokers. The lack of these resources does not always mean that the broker is a con artist, and even if they are available, the broker may still be shady, but in either case, tools that aid traders are a plus.

1st Ventures Review may greet you with a chatbot and deliver polite customer service at first, but give it some time. Customer service remains responsive and helpful when dealing with qualified brokers. However, it gets less so when dealing with scam brokers. Some unscrupulous brokers work hard to attract customers, but once they’ve made a deposit, they nearly vanish, not replying to texts or emails. Examine 1St Ventures Review’s customer service, but don’t assume they’re reliable simply because they’re pleasant. It’s crucial to double-check the contact information to make sure it’s correct. To make it easier for them to depart with the money, many con artists use phony addresses, emails, and phone numbers.

DO YOU SUSPECT THAT SOMEONE HAD SCAMMED YOU?

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You will feel safe knowing that experts with years of experience will be guiding you!

What’s The Final Verdict on 1st Ventures?

The current economic situation, the number of time individuals spend on the internet, and the popularity of trading are all factors that have led to the rise in scam brokers. The number of investment frauds increased dramatically during the COVID-19 crisis, causing the SEC, or United States Securities and Exchange Commission, to issue a public warning to be cautious when investing online. Take your time and do your homework if you’re a potential trader.

Do your research before signing a contract, opening an account, or depositing money with a broker. Our broker review is intended to inform consumers about the 1st Ventures Review and to assist them in their search for alternative brokers.1st Ventures should be avoided since it is a massive Ponzi scheme. They are a sham business because they are not regulated. The platform uses bogus information such as deposit and withdrawal statistics to entice investors who do not do their homework before trusting trade platforms.

holding an iphone checking for amazon stats

4. 365 Binary Option

Binary Robot 365 is a binary options trading robot that claims to be able to make investors thousands of dollars every day. The webpage was created in 2016 by an unidentified individual. The 365 Binary Option has not been approved by us, and it is only targeting people in the United Kingdom. You won’t be able to use the Financial Ombudsman Service or the Financial Services Compensation Scheme (FSCS) if something goes wrong, so you’re unlikely to get your money back. Binary Options are a sort of option in which Scams are extremely dangerous. Because the scammers attract their victims with enticing offers and discounts, options scams have the potential to lead to debt traps. Let’s further look into these claims.

Expert Analysis of This Organisation

We’ll go over a few crucial traits to look for in a broker before opting to open an account with them in this part. Keep in mind that no one else has a legal right to your funds. As you may be aware, regulation is one of the most important factors to consider when looking for a brokerage firm. 

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As the number of scammers on the market has grown, legislation has been passed to construct obstacles to keep the scammers out. This was accomplished through the use of licenses. In order to receive a license, a company must pass a series of exams. These tests, however, are not as straightforward as they appear. Without a license, a business is termed unauthorized and unable to trade. In our case, the fact that 365 Trading is unregulated raises the first red flag in this 365 Trading review.

Legitimate brokers usually ask for small sums as the minimum deposit, as accepting huge amounts as the minimum deposit is against the law. Scam brokers, on the other hand, have a long history of requiring hefty minimum deposits in order to defraud traders of as much money as possible before they get suspicious. Professional brokers typically request a sum of between $5 and $10. 365 Trading wants a fee that is greater than the industry standard, implying that they are a fraud. 

Leverage is another prominent factor to check for when searching for a broker on the internet. Because of their direct engagement with the risk, leverages are only supplied at tiny levels. Leverage is even regulated in Europe and the United States at 1:30 and 1:50, respectively. If 365 Trading provides more leverage, it’s a sign that it was a likely binary options scam broker in 2021.

crypto market stocks

What’s The Final Verdict on365 Binary Options?

Trading with 365 Binary Option is not a secure option. This is our official conclusion, based on the fact that major financial agencies in Australia, Ireland, the United Kingdoms, and elsewhere have deemed it dangerous. If a broker is not authorized by your state’s regulatory authority, they are probably uncontrolled and should be avoided. Given that 365 Binary Option has been blacklisted, investing in such a company without fully comprehending what you are doing would be unwise.

5. 4XFX

4xFX, a Forex and CFD broker, is owned and operated by GRF EUROPE OÜ, an Estonian company that claims to be registered with the Register of Economic Activities. The register is only a record with no respect for the company’s long-term viability or supply of financial services. Therefore this does not suggest that the broker is regulated or authorized to perform its services. Regardless, before delivering its services to the market and potential clients, every EU-based company needs to acquire a license that verifies the company’s long-term viability.

Getting your money

Expert Analysis of This Organisation

Despite the fact that it claims to provide dependable and secure financial services by following high regulatory and financial standards, the company is not licensed or regulated by any recognized agency. As a result, 4XFX has joined the thousands of other unregulated trading sites with whom we advise against dealing. The broker has also been prohibited by a number of regulators:

  • “The business listed below (4XFX) has made unsolicited calls or sent emails about investing, financial advice, credit or loans and does not hold a current Australian Financial Services (AFS) license or an Australian Credit license from ASIC.” ASIC, 10 January 2019

“Finantsinspektsioon (the Estonian Financial Supervisory Authority) would like to inform clients and investors that GRF Europe OÜ does not hold an activity license for the provision of investment services in Estonia, and therefore GRF Europe OÜ is not authorized to provide investment services in Estonia.” Estonian FSA, 14 January 2019.

online codes

4xFX and other unregulated firms should be avoided by all investors and traders. Traders should utilize reputed brokers like IG Markets and XM.com, as well as properly authorized brokers like UK brokers or Australian brokers. 4xFX appears to be similar to any other broker. It could have a fantastic website or active social media page, a friendly approach, claim to be licensed, and give you an appealing offer, such as a 1% daily return on bitcoin trading. You do the math and figure out that in no time, you’ll be seeing triple-digit returns.

So, what are you waiting for? It’s entirely yours. Cryptocurrency scams aren’t always obvious. They may appear professional and legitimate at first glance. They do, however, know how to entice people in, hold their money hostage, and persuade them to keep investing. Customers don’t want to believe that brokers like 4xFX are deceiving them since they’ve already committed a significant amount of money and want the agony to end. 

Due to the fact that fraudulent brokers do not easily restore money to their clients, successful fund recovery is the only method to end the horror. The only options are to end the denial, deactivate the account, and, if that doesn’t work, seek the help of fund recovery experts like the Chargeback method. For your convenience, we’ve assembled a list of reasons why we feel 4xfx is most likely a crypto fraud. We make it our mission to investigate cryptocurrency brokers and determine whether or not they are legitimate. You can check at customer review sites, but there’s no way of knowing if the reviews are legitimate.

binance profit graph

These reviews are frequently done by people who are involved in questionable operations in order to improve their own reputation. Other assessments may be part of a smear effort against competitors. This isn’t to say that customer reviews shouldn’t be taken into account; they should, but they shouldn’t be the sole source of broker information. A license is a document that is similar to a driver’s license. If a taxi driver did not have a valid driver’s license, you would not get into his or her car. 

You should also avoid registering with a broker who is not licensed. Any license, however, will not suffice. The license must be up to date and genuine. Many brokers falsely claim to have a license and may even present a completely bogus picture. This is why it’s so important to double-check all licenses on government websites. Third-rate or offshore licenses may be sufficient for some consumers, but they are not worth the virtual paper they are printed on. These fictional authorities provide licenses for a fee and do not perform inspections or respond to client complaints.

It’s probable that 4xFX broke the rules in some way. This is a dangerous circumstance that could lead to legal complications. This usually means the broker is operating illegally or signing up customers in places where they do not have a license to do so. It’s not easy to catch regulators’ attention. The fact that 4xFX may have been picked out for a warning by regulatory agencies provides a strong message to stay away.

forex trading chart

What’s The Final Verdict on 4XFX?

Due to a terrible reputation, 4xFX has been blacklisted. This is due to a number of causes, including unfavorable customer reviews, regulatory notices, and the potential that 4xFX was the subject of unpleasant press coverage. You don’t have to work with a dishonest broker because there are plenty to choose from. Like many other cryptocurrency scams, 4xFX promises uncertain profits. This not only produces unhappiness but also puts any broker in an ethical bind. Risky assets like cryptocurrencies and FX are difficult to predict and can vary rapidly. A broker cannot guarantee that a customer will profit a certain amount of money.

4xFX is not a safe place to trade. This is our official conclusion, based on the fact that major financial agencies in Australia, Ireland, the United Kingdoms, and elsewhere have deemed it dangerous. If a dealer is not licensed by the regulatory authorities in your area, it is likely that they are unlicensed and should be avoided. Given that 4XFX is on the blacklist, investing in such a company would be risky if you don’t know what you’re doing.

phone with cfd chart

6. 72 Option

72 Option is a Binary Options Trading Broker owned by Epic Ventures LTD, a company that allows investors to trade underlying assets on a Binary Options Trading Platform. The firm claims to be based in Sofia, Bulgaria, and to have an office there, but it is not licensed or authorized by the Bulgarian Financial Commission or any other agency. 72Option is a well-known unregulated binary options broker with traders from all around the world. They only offered a few financial products, but their trading incentive system was the driving force behind their success. They allegedly used to give services to residents of the United States, which is, to put it mildly, illegal. 

They also have multiple evident ties to a web of binary options con artists. As if all of these allegations and statistics weren’t bad enough, we found more concerning information about them in the feedback section. Because of the profit potential, trading binary options or any other high-volatility asset may sound appealing at first. Allowing your avarice to blind you to reality is not a good idea. Let’s look into this further and put an end to all the speculations once and for all.

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Expert Analysis of This Organisation

Binary options have been a concern for regulators since their introduction. In the pretense of trade, many con artists preyed on the naïve public, and the entire industry became so polluted that it was forbidden in most civilized countries. While there are a few trustworthy binary brokers out there, for your own safety, you should always check to verify if they are licensed. 72Option is owned by Epic Ventures Ltd, which claims to be situated in Sofia, Bulgaria. Despite its lack of regulation, the broker accepts clients from all throughout the Western Hemisphere. Many regulatory agencies have issued warnings against them, including the Hong Kong Securities and Futures Commission and the British Columbia Securities Commission.

This broker has been linked to various trading scams, as we previously stated in our report. The company’s proprietors are said to be Anton Senderov and Lior Babazara. The cases brought against them and their attorney have created quite a stir in the courtroom. Many of their own employees, contractors, and insurance companies have spoken out against them, in addition to the government. For more information on the complaints that have been filed, see this complaint form and this story from the Times of Israel. Many binary traders are already familiar with 72Option’s Spot Trading interface. 

silver and gold coin

The web-based software is extremely light and provides all of the necessary features for the average trader. The platform, on the other hand, does not suit all of the needs of more experienced traders, and the default charting solution isn’t the best. Only binary options with expiry dates ranging from 60 seconds to a week are available. Short-term expiry trades have higher payouts, which can approach 90%, but before you get too excited, keep in mind that consistently winning them is quite difficult.

Additionally, this broker has a history of using short-term market changes to their advantage. This platform does not support algorithmic or social trading in any way. As a result, those who want to develop a feel for trading without spending a lot of time in front of a computer should stay away from them. As an asset class, they offer around 12 major forex pairs, as well as a few commodities and indexes. 

The number of financial instruments accessible to trade is quite limited when compared to other options. There are a few intriguing exotic options available, such as the ladder and touch or no touch options, but the chances are far too stacked in the house’s favor to make them viable. At the end of the day, there isn’t a single “must-have” feature in this broker, and it should be avoided at all costs.

offshore investmenting

This broker requires a $250 minimum deposit to start an account. Wire transfers and credit cards are accepted as payment methods at 72Option. The lack of support for e-wallets is a deal-breaker for many people, and entrusting them with sensitive data is not a good idea. There is no information on how long it takes for deposits to be processed. On the other side, withdrawals are said to take 5 to 7 days to reach the client’s account. 

There are no fees associated with withdrawals that we are aware of. They do provide matching deposit bonuses, which sound good in theory, but traders should never take advantage of them. Accepting a bonus means meeting tough criteria, such as trading a certain number of lots or reaching other seemingly impossible goals. Many scam brokers use bonuses to keep their clients’ money on the platform, and this is one of the few remaining legal loopholes.

What’s The Final Verdict on 72 Option?

Building your case

When it comes to trust and credibility, 72Option is not the broker you want to deal with. 72Option is undeniably a Massive scam designed to swindle retail investors. The number of shady traits they employ should disclose a lot about their character. They use every dirty trick in the book, from tampering with data feeds to duping traders into depositing more money under the pretense of asset management. They have defrauded several people out of thousands of dollars, and they are still attempting to get their money back. The official 72Option website is presently inaccessible, and it does not appear that it will ever reopen, based on a number of issues.

At this point, we believe you are aware of the hazards connected with utilizing 72Option’s platform. Unfortunately, this is true of the vast majority of unregulated web firms, not just one broker. Always keep in mind that licensed exchanges offer the finest trading conditions and fund security, and they are well worth the investment. If you have already joined them or another site that has defrauded you, do not remain silent and let them get away with it. Gather as much information as you can, and then contact our team for free help.

broker

8. Abridge Enterprises

In 2002, the Securities and Futures Commission of Hong Kong granted Abridge Enterprises Company Limited (“Abridge”) a license to engage in regulated activities of Type 4 (Advising on Securities) and Type 9 (Asset Management). They’ve built a corporation that has stood the test of time since then. They have sought to produce value through early-stage and private equity pre-IPO investments in a variety of industries and geographies, particularly in the Greater China region’s telecommunications, healthcare, corporate, and real estate services sectors.

Expert Analysis of This Organization

Abridge Enterprises, like the majority of brokers in the industry, uses the MetaTrader 4 platform. For those traders who want to monitor their accounts at any time, anyplace, Abridge Enterprises WebTrader software provides a convenient platform from which they may access the market without having to load memory-intensive applications. The unique systems of many high-quality brokers can provide an amazing trading experience. Call customer service while investigating a broker’s case, but keep in mind that even rogue brokers might look friendly and helpful at first, only to expose their true colors later.

investment on phone

Although these account options sound enticing, trading with Abridge Enterprises is a pure rip-off. For example, many dishonest brokers impose exorbitant withdrawal fees that do not cover service fees. You are unable to make a withdrawal from your bank account. These are some of the warning signs that a broker is having trouble. Traders should only deal with reputable, well-regulated brokers, such as those based in the United Kingdom or Australia. All investors and dealers should avoid Abridge Enterprises and other Vanuatu brokers. Abridge Enterprises has been related to fraud, so we do not recommend trading with them.

The Financial Conduct Authority (FCA) advises UK investors not to invest with this broker in general. The Forex broker, on the other hand, lacks the requisite FCA authorization. The Forex broker has been awarded a license by the VFSC, but this is inadequate to sell financial services or goods in the United Kingdom or Europe. Brokers who are not regulated have the challenge of being untrustworthy and breaking the rules. Some dishonest brokers will be pushy with their clients, pressing them to participate in certain trades. 

According to reports, many unlicensed brokers (such as Abridge Enterprises) swindle individuals. Because of a lack of knowledge and unregulated Abridge Enterprises, funds are at risk. This is why you should do your homework before creating an account, sending money, or submitting any documents with Abridge Enterprises. To begin engaging with Abridge Enterprises, the information provided above is insufficient. A list of several Abridge Enterprises employees is also missing from the Abridge Enterprises help page, which is something that many other brokers, particularly scammers, do not supply.

forex chart

The most concerning aspect of Abridge Enterprises was that the broker did not provide his physical address in the contact section. However, if the broker no longer provides contact channels such as email, phone, text messaging, and chat and has a support staff that does not appear to understand the transaction or asks evasive questions, this could be a sign of a scam or a low-quality broker. We found a flood of Abridge Enterprises reviews talking about poor customer service after the initial deposit during our preliminary research on this broker.

Even though these platforms may be useful in the hands of other brokers, Abridge Enterprises engages in illegal trading, making it impossible for traders to withdraw funds. You can also contact one of the Fund Recovery companies on our list to get your money back from Abridge Enterprises. Some brokers specialize in a single field, such as foreign exchange, while others provide a broad range of trading options. 

We talked about trading products like stocks, commodities, ETFs, foreign currency, options, CFDs, bonds, indices, and cryptocurrencies in our broker review. In certain Forex trading scams, the deceptive broker would only give their own platform, which may or may not be legitimate. When researching a broker problem, call customer support, but keep in mind that even rogue brokers might look nice and helpful at first, only to expose their true colors later.

Traders should be able to quickly access their accounts and trade using the broker’s trading interface, which should be simple to use and straightforward. The trading interface should be extremely simple and user-friendly to aid consumers with daily transactions. The broker must have a sophisticated trading platform with comprehensive analytical tools and the most up-to-date foreign exchange technologies. 

trading investment

In addition to being licensed, a good broker should have a solid reputation, good trading conditions, and excellent customer service. Abridge Enterprises clearly completed none of the aforementioned goals and cannot even be termed a broker but rather a foreign exchange fraud. The majority of the transaction terms are kept hidden by Abridge Enterprises, which raises suspicion. Finally, regardless of Abridge Enterprises’ trading conditions, we do not recommend trading with them because they are unregulated and could be a scam. We believe they are potential liars because they have the ability to cause severe harm to their customers.

Some brokers provide a wide range of trading options, while others specialize in one area, such as foreign exchange. Traders should only trade with well-regulated and well-known brokers (such as those in the United Kingdom or Australia). If you locate any trading products in the Abridge Enterprises reviews, double-check that they are authorized to trade the things they sell. 

The unique systems of many high-quality brokers can provide an amazing trading experience. This sort of broker is only required to provide easy access to trading instruments. Brokers who are not regulated have the challenge of being untrustworthy and breaking the rules. Abridge Enterprises has been related to fraud, so we do not recommend trading with them. The Financial Conduct Authority (FCA) advises UK investors not to invest with this broker in general.

Because the Forex broker lacks the essential FCA license, this is not possible. The Forex broker has been awarded a license by the VFSC, but this is inadequate to sell financial services or goods in the United Kingdom or Europe. In any case, Vanuatu is an offshore jurisdiction. Therefore traders should choose their brokers carefully. All investors and dealers should avoid Abridge Enterprises and other Vanuatu brokers. If you wish to trade foreign exchange, cryptocurrencies, CFDs, or commodities, paying attention to your broker can help you prevent broker fraud and withdrawal issues. 

laptop on table

The broker is either uncontrolled or has a low-quality regulatory license, which is the most common indicator of Forex trading or broker fraud. Any Abridge Enterprises reviews will tell you not only whether or not the broker is licensed but also about the regulatory body and whether or not the license is of high quality. However, if the broker no longer provides contact channels such as email, phone, text messaging, and chat and has a support staff that does not appear to understand the transaction or asks evasive questions, this could be a sign of a scam or a low-quality broker.

We found a flood of Abridge Enterprises reviews talking about poor customer service after the initial deposit during our preliminary research on this broker. While these platforms may be useful in the hands of other brokers, Abridge Enterprises engages in illegal trading, making it impossible for traders to withdraw funds. Although these account options sound enticing, trading with Abridge Enterprises is a pure rip-off. Depending on the amount of money being exchanged, most brokers have different accounts. 

They may also provide high-volume traders incentives like lower commissions or spreads. Before committing to a free demo account, potential investors can test drive the Abridge Enterprises trading platform for free. The Vanuatu Financial Services Commission regulates the broker, which offers a full trading environment with outstanding assets, platforms, trading options, and market alternatives that may appeal to a wide range of traders, from novices to specialists. Need. 

Abridge Enterprises, like many other reputable brokers, offers a choice of account types to meet the needs of a wide range of traders, from beginners to experts. The broker offers a variety of platforms through which you can access and trade different instruments.

broker meeting

What’s The Final Verdict on Abridge Enterprises?

Trading with Abridge Enterprises is not recommended, regardless of their trading terms, because they are unregulated and likely to be a fraud. We believe he is a prospective fraudster since he has the power to inflict large losses on his clients. If they are con artists, this is to prevent them from withdrawing their funds. Do not believe Abridge Enterprises is authentic simply because you were greeted by a kind chatbot when you first came on the website or because the broker paid you special attention in the first several weeks. This isn’t to suggest you shouldn’t try; trading can be safe and reliable in many situations, but only if you choose the right broker.

A good broker should be regulated, have a good reputation, offer reasonable trading conditions, and provide excellent customer support. Abridge Enterprises clearly completed none of the above and might be classified as a foreign currency market swindle rather than a broker. The majority of the transaction terms are kept hidden by Abridge Enterprises, which raises suspicion. At this time, we believe you are aware of the dangers connected with using our platform. Unfortunately, this is true of the vast majority of unregulated web firms, not just one broker. Always keep in mind that licensed exchanges offer the finest trading conditions and fund security, and they are well worth the investment.

WORRIED THAT SOMEONE HAS YOUR PERSONAL & BUSINESS INFORMATION?

With how easy it is for scammers to acquire your data, it’s reasonable to be alarmed. Protect yourself and your loved ones by getting advice from experts. 

We will guide and even help you get your money back from scammers.

9. A M Global Management

Before completing an online purchase, the majority of customers will read a review. It is possibly even more critical to conduct thorough background checks on brokers before engaging their services. The majority of clients will read a review before signing a contract before making an online transaction. Conducting extensive background checks on brokers before employing their services is perhaps even more important. You place your trust in a broker when you sign a contract with them and deposit money to trade with them. 

Only sign up with a broker if you are certain that your level of trust is justified. We investigated the A M Global Management Scam thoroughly and would like to share our findings with you. The development of our research technique has been supported by years of collaboration with financial industry regulators, banks, and government agencies. You place your trust in a broker when you sign up with them and deposit money for trading. Only sign up with a broker if you are certain that your level of trust is justified.

We conducted a thorough investigation into the A M Global Management Scam and would like to share our findings with you. Years of collaboration with financial industry regulators, banks, and government agencies have aided in the development of research methodology. Because of our strategy, thousands of people have been safeguarded from broker scams.

Evidence

Expert Analysis of This Organization

Multiple users have stated that they have been asked to pay expensive taxes/fees, that they have been inattentive to withdrawal requests, or that they have been flatly refused withdrawals. One of the biggest fears for traders is being unable to access their accounts when they wake up one morning. When users attempt to log in but are denied, this is a regular scenario. They can attempt again and again, but they will not be given the option to reset their password or locate the login page. People begin to suspect that something is wrong when the website goes down, and they are unable to log on. They may contact customer service and receive no response, or they may send emails that go unanswered.

This seems like something out of a horror movie, but it happens all the time. Unfortunately, brokers are disappearing at an increasing rate. If you can’t log in to M Global Management, it’s not necessarily a symptom of a scam. Every website has technical issues now and then, but if the site doesn’t offer a way to log in, it’s a good sign that you’ve been the victim of a scam. A M Global Management login concerns were investigated, and the broker’s service was evaluated. Following a quick check of the A M Global Management login, our experts discovered the following information. We all have login troubles from time to time. 

olieman eth

If this happens on a trusted site, you may be asked if you have forgotten your password. Then you may be asked to provide your email address, after which you will receive a secret code that will allow you to change your password and log in. However, this is not the case with fraudulent A M Global Management login concerns. Nothing will happen unless you type in your login and password again and again. 

You may assume it’s a technical problem and try again later, only to get the same result. Due to technical issues, a notification may display claiming that the site is inaccessible. Days, if not weeks, go by, and the A M Global Management login continues to prevent you from accessing your account. At this point, you can be confident that A M Global Management is a hoax. However, they may have already taken your money.

This seems like a nightmarish scenario, and it’s possible that it’s too good to be true. This is, unfortunately, the case. Brokers going missing and A M Global Management login troubles have been common for years, and with the rise in financial fraud, they are becoming more common.

A high-profile currency trading broker vanished a few years ago with $1 billion in client funds. They boasted of being able to trade $4.8 billion on behalf of 100,000 investors and guaranteeing daily gains of 1%. That would be a year-over-year return of 250 percent, or 25 times the S& P 500’s average return. Excessive boasting by the broker should be a red flag that he is a con artist. Unfortunately, it’s simple to dismiss the hyped-up rhetoric when cunning scam brokers scale down the boasts to 1% every day rather than declaring explicit annual returns of 250 percent.

Taking money in the wallet

If A M Global Management simply vanished one day, or if it alerted its clients that the site would be unavailable for a few days for maintenance and the site never returned, please contact us before it’s too late. This isn’t something that only A M Global Management performs. The number of scams involving erroneous broker logins and missing brokers grows every year. Is this broker quick to respond to questions about their services? Many of our duped consumers claim that when they asked for details, the broker was evasive. 

If A M Global Management imposes fees for withdrawals, deposits, or dormant accounts, be sure the fees are fair. You can be sure you’re dealing with a scammer if A M Global Management asks for a withdrawal tax. Confirm the accuracy of A M Global Management’s addresses and contact details. If the broker does not allow withdrawals unless certain requirements are met, you should find out before leaving. This is a clear red flag.

Don’t be fooled by a broker who guarantees you a profit in a matter of weeks. This might be utilized to entice traders in while also lulling them to sleep. When brokers want to disappear, they will make the trader believe they are gaining money before disappearing with it and all the trader has put. Check to discover if the A M Global Management platform is legitimate and free of complaints. If the platform gets bad evaluations, it means the A M Global Management platform has a history of facilitating fraudulent brokers.

crypto graph

What’s The Final Verdict on A M Global Management?

A M Global Management Online is accused of being a scam broker. We do not recommend doing business with them, and if you are now trading with A M Global Management Online, you should contact them as soon as possible to try to get your money back. It’s conceivable that you’ve been the victim of a broker scam if you’re experiencing problems logging into AIM Global Management. 

If you’re having problems logging in or your broker’s website has been down for a long time, reach out to our specialists for help. Our team of experts is knowledgeable in all types of fraud, including broker login concerns. Our employees work closely with regulatory agencies and financial industry leaders to address client problems. If you’ve encountered any of the following, you should report it as a scam.

If You Have Encountered Any of These Organizations - Report Your Case Now!

Since the 1610s, the term “blacklist” has been used. An individual who was on a blacklist was suspected of something and should be avoided. A blacklist of workers suspected of being involved in union organizing had been given to potential employers by the late nineteenth century. The purpose was to both silence and punish unionists. A blacklist can now be created by any type of organization, from a political or religious body to a commercial or professional one. It might be made public to put additional pressure on individuals on the list, or it could be sent out in private to those who might be able to utilize the information to cut relations with those on the list.

Even though most governments have blacklists of untrustworthy corporations and suppliers, the threat of blacklisting is usually effective. When it comes to international economic issues, this is especially true. For example, the US government imposed an export restriction on Huawei in 2019, preventing Huawei from participating in some procurement contracts in other nations. China replied by threatening a boycott of all foreign firms that imposed a Huawei ban. Despite the threats, these disagreements are typically resolved without entire countries being placed on blacklists. Scams will remain as long as people fall prey to them. By following a few simple principles, you can safeguard yourself and your bank account. As an example, ensure that you finish your assignment. Everything should be thoroughly read and evaluated. Before proceeding, always read the webpage thoroughly.

It’s virtually always the case that an offer appears dubious or too good to be true. Personal data, on the other hand, should be kept private. Scammers can gain access to practically every facet of your life if they have the correct information. This covers the theft of your identity, as well as your money and other accounts. Never give out account information, social security numbers, credit card numbers, or passwords to strangers unless you know who they are and what they’re asking for. Aside from the ones stated above, scammers abound in the online industry. While no one can ensure your safety 100%, you should avoid companies with a bad reputation at all costs! The list of blacklisted companies is never-ending, and they are known as looting traders due to their manipulative trading practices, lack of rules, and failure to fulfill what they promised in the beginning. Nonetheless, conduct lengthy and detailed research before signing up with a broker! Look for any unfavorable feedback about the business. Keep an eye out for both negative and positive remarks.

These can be found by searching for the words scam, unpleasant.’ One negative experience does not guarantee that you will have a bad experience, but it does give you a full picture. Most importantly, keep a lookout for more customer complaints about items not arriving. It’s a red flag for fraud, but before you jump to conclusions, consider contacting the individual and asking them about their experience. Read the article above attentively and take the steps indicated if you want to avoid becoming a victim of an internet scam and learn more about the various types of scams that exist today. Keep a watch out for red indicators, which are warning signs. You never know how skillfully scammers have set up traps for you, for example. A lack of response to emails, false product photos, and pricing that appears to be too good to be true may be advantageous in cases like these. As a result, while there is no definitive plan for eradicating internet fraud, there are always strategies in place to limit the negative consequences it causes.

One of the most popular online trading scams is to initially show good transactions to mislead the investor into a false sense of security and get them hooked on the promise of ‘easy money.’ Once the investor has developed confidence, he or she will be encouraged to invest more money in order to earn bigger returns. Other incentives may be offered to entice investors to refer their friends and family to the platform. When a brokerage believes it has sucked all available funds from a client and his or her network, the account is suspended, and the investor loses access to the funds.

Many fraudulent firms would claim to be situated in a regulated country and display false regulatory licenses and addresses on their websites to acquire credibility with unsuspecting investors. Be cautious and confirm your findings with multiple sources. When transmitting money over the internet, it’s important to keep an eye on it at all times. So, before you hire a CFD or forex trader, consider these common-sense considerations. Check that they are fully regulated, that their trading platform has the most up-to-date security measures, that they are not on any trading blacklists, and that you trust them. This may appear to be a lot of work, but if it prevents you from falling victim to financial fraud in the future, it will surely be worth it.

do you need help?

A lot of those who contact us have questions and concerns about their personal and business data being compromised. We aim to arm you with the legal and technical know-how in the fight against scams. Also, we will be able to refer you to top scam recovery agencies.

Please fill up the form. Rest assured that our support team will get in touch with you

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