Recently, a number of users have posted complaints on FxGecko's community and website, exposing Shenghui Group Ltd's scam. They are asking Shenghui Group Ltd to refund their funds and remind everyone to stay away from this scam trading platform.
Currently, FxGecko has received 4 complaints against Shenghui Group Ltd. The complaint posts are as follows.
Complaint 1：https://www.fxgecko.net/en_US/complaint/8399.html
Complaint 2：https://www.fxgecko.net/en_US/complaint/8385.html
Complaint 3：https://www.fxgecko.net/en_US/complaint/8171.html
Complaint 4：https://www.fxgecko.net/en_US/complaint/8131.html
FxGecko has sent these complaints to Shenghui Group Ltd, but has not received any response.
About Shenghui Group Ltd
As FxGecko has exposed many times before, Shenghui Group Ltd is an almost anonymous and unregulated trading platform. Its rating on FxGecko is only 2.1, it has been operating for less than 1 year and is extremely risky.
A look at the website of Shenghui Group Ltd reveals that the broker operates almost anonymously. Its website lacks details such as address and contact numbers, and does not provide any valid legal documents.
Furthermore, although Shenghui Group Ltd claims to be an award-winning broker specializing in online forex and CFD trading services, in reality Shenghui Group Ltd is not licensed to conduct forex trading or brokerage business. This means that Shenghui Group Ltd is not regulated.
When you invest on such anonymous, unregulated trading platforms, you are at a greater risk of being defrauded. Because the background and operations of these platforms cannot be easily verified, they can run away with the money at any time. Once you make a deposit with them, you will most likely end up not getting a single penny out.
Therefore, we recommend that you avoid such brokers and do not provide any personal information to them.
Things to do after you got scammed
FxGecko reminds you that you should always be cautious when you come across investment opportunities that promise high returns with little or no risk. These are likely scams.
You should "ask, check and confirm" before investing. You can check the broker's qualification information and complaints on FxGecko's website to avoid any potential scams.
You can also expose forex / crypto scams on FxGecko, FxGecko will do everything in its power to help you and expose scams, warn others not to be scammed.
