1.AUSFIT: customers are required to pay taxes before withdrawals (this is a scam, do not pay any fees!)
2.HP Exchange: customers report the exchange as a Pig Butchering Scam, unable to withdraw funds, suspected to run away.
3.dYdX: customers report the platform since June this year unable to withdraw money, suspected to run away.
According to the brokers' data in the FxGecko APP and the information provided by clients, the above trading platforms have the following risk information in common:
1.Anonymous. These trading platforms do not provide any valid company registration information, regulatory information, contact and other information for investor verification.
2.Unregulated. These fraudulent platforms often do not have a financial services licence issued by a financial institution in the client's location.
3.Attract investors by promising "unrealistically high returns". This is a common scam trap.
Whether you trade forex or cryptocurrencies, we recommend that you stay away from these anonymous and unregulated high-risk trading platforms to avoid being scammed.
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: 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".
Reminder 3:
When investing, we should remain rational and cautious, be skeptical of inflated returns, and perform adequate due diligence. Remember, if a particular investment seems too good to be true, it probably is indeed untrustworthy.
You can check the regulatory licenses, security scores, customer complaints and other information about global trading platforms at FxGecko APP to avoid any potential scams.
Click here to see what should you do after encountering a crypto scam and how to avoid crypto 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.
