In 2020 record number of investment scams and especially crypto scams have emerged. Here I’m exposing only a few of them, but these are still operating, so be aware of these fishy platforms.
- Infinitrade (infinitrade.com) – invested 38000€ – paid back 2500€, that’s roughly 6% of the deposit (fair enough to keep you hooked for a week or two). A company located in Sofia, Bulgaria that uses UK-based phone numbers to contact you with no reference to the UK, Bulgarian, neither EU financial supervision authority certification.
These guys are master-class con artists, creating an illusion to be your friends if not family, keep milking you for funds, mostly from your bitcoin wallets, but whenever you need to get withdrawal – it’s always “compromising your trading account” – end of quote. They’re mostly targeting customers in wealthy EU countries like Finland or other Nordic states. AVOID INVESTING WITH THEM AT ALL COSTS!!!!
- BBS Bid Broker Stocks (bid-broker-stocks.io)- 7000€ invested – paid back 250€, that’s 3% of the deposited sum (from the bank account in Russia!!!). Bid Broker Stocks is a pure scam, officially confirmed, as a warning was issued by the Spanish financial regulator CNMV. In the document, the watchdog addresses the company Donnybrook Consulting Ltd, but it is only the beginning of the story. It’s not certified by any European financial regulators, thus cannot be considered legit. It’s closely correlated with other scams, under different names and jurisdictions. DO NOT TRADE NOR DEPOSIT FUNDS WITH THEM!!!
- AlgofGain (algofgain.com) – CRIMINALS!!! The next worst to pointing you with a gun to rob you.
I haven’t invested anything with them but received a phone call from a UK-based number, about my refund claim. A guy using AnyDesk remote desktop software had hacked into my Coinbase bitcoin wallet, said he was ” mirroring” my wallet using patented IBM technology to send a refund of investments that I made with them, and stole 509€ worth of bitcoin before I realized what had just happened. Fast criminals!!! Further analysis of the receiving bitcoin address had shown several transactions from hundreds to thousands of euros worth of bitcoin made to it. This was the last drop that made me write about them all.
EXTREME WARNING!!! DO NOT DEPOSIT ANY FUNDS WITH THEM, HANGUP AND BLOCK THEIR PHONE NUMBERS WHEN THESE GUYS CALL YOU!!!
- InveFX (invefx.com) – The address and registration of this broker are unknown. I had browsed the whole website trying to find out what the address of the brokers is and searched the Terms and Conditions document to find out about its registration, but all was in vain. Advice is – do not trust this broker and do not deposit funds in its accounts.
Furthermore, please bear in mind that trading in binary options is banned in the EU, and in the US only a couple of binary options exchanges are allowed to operate and offer binary options trading.
- FTG Markets (ftgmarkets.com) – FTG market is not a licensed Forex Broker. Discovered this after investigating their vague claims of being regulated by the Financial Conduct Authority in the UK. EXTREME WARNING!!! DO NOT SEND ANY FUNDS TO THEM!!!
That leaves us to the question. Where to invest? Well, try to find brokers in your own country certified by your financial supervision authority. It is important, that it would be certified in your country, because if it’s just EU, Cyprus or a country other than one you reside, then disputes can only be resolved in the court and legislation of the country where trading company is registered by the rules of their financial supervision authority.
How did I get out of it alive? Well, I used the remaining 5000€ with one trading platform I have been using successfully since December 2020, earning 3000€ monthly on my 5000€ investment was Admiral Markets, registered and certified in the UK, Cyprus, and Estonia. This is very convenient for me because I’m an Estonian citizen residing elsewhere in Europe now. Find out if Admiral Market is also certified in your country and use the platform for trading.