According to the victim's report, he lost $200,000 on a fraudulent platform called Faxton Limited (also known as Faxton Incentive Limited), which operated a private Facebook group with over 1,000 investors.

He was introduced to the Facebook investment group by someone he met online. At first he invested only a small amount of money and tested it for a while, and everything worked fine and he was able to withdraw profits.

Later he invested a large amount of money, but when it was time to withdraw, the platform asked him to pay an extra commission and a 15% commission to withdraw even if he closed his account.

After the victim paid the money, they still wouldn't let him withdraw, his "investment manager" suddenly disappeared, and the website's online customer service didn't answer. They cheated him out of $200,000 and pulled him from their Facebook group.

No negative information about the company can be found on the Internet, and the investor warns people not to fall for the scam.

Reminder 1: Any trading platform that asks you to pay fees upfront (such as taxes, deposits, verification fees, channel fees, etc.) to withdraw funds or unfreeze your account is a scam.

Don't pay any fees because scammers just want to scam you for more money and then disappear.

Reminder 2: The trading market is full of uncertainty, do not blindly pursue high returns. And always be cautious when you come across investment opportunities that promise high returns with little or no risk. These are likely to be scams.

Reminder 3: Don't trust individuals or organisations who claim to be able to get your money back - they may be selling hope and scamming you again. This is especially true if they ask you to pay in advance, which is a "recovery scam".

We recommends that you always perform due diligence and verify information about the trading platform's qualifications before investing.

Stay away from new, unregulated, low-rating and high-risk trading platforms to avoid potential scams.

Click here to recognize common investment trading scams to avoid being scammed.

Click here to see how to check if a broker is safe and what to do if you encounter a scam broker.