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Abstract:Despite all the forex scams being exposed on media everyday, many investors still dive into the forex market with the hope of making profits; yet blinded by temporary gains they may unconsciously fall into traps. Recently, an Arabic investor filed a complaint against RCPro and told WikiFX how this illegal broker swindled his deposits.
Despite all the forex scams being exposed on media everyday, many investors still dive into the forex market with the hope of profiting; yet blinded by temporary gains they may unconsciously fall into traps. Recently, an Arabic investor filed a complaint against RCPro and told WikiFX how this illegal broker swindled his deposits.
I‘m a member of the working class and work hard everyday for the petty salary. As I’m getting old, I got this idea to make a good fortune and then quit the job. I learned about RCPro and got involved by chance, but the incident eventually led to a trap.
A month ago, I started browsing websites about personal finance and investment and left my personal contact in order to get more information. And soon I got a call from someone who claimed to be an agent of RCPro. He introduced me the highlights of investing at their company and promised I would make much money if I signed up. Though not very interested at first, I was persuaded after talking to him over the phone and decided to try my luck by depositing some money.
Much to my delight, profits flowed into my trading account everyday and it wasn‘t long before my balance multiplied by dozens to US$50,000. But when I was ready to pocket the gains by withdrawing part of my balance, my withdrawal application was rejected by the broker. I tried again and again, but all my attempts failed and my account was later suspended. Feeling anxious and desperate, I kept on calling the agent and the broker’s customer service, but my calls never went through; neither were my email inquiries answered by the broker, and up till now RCPro remains out of reach.
Conclusion
Per investigation, WikiFX found that RCPro has been in business for less than a year and uses white-label MT4/MT5 trading software, bearing substantial risks. WikiFX reminds investors that before choosing a broker, you can use WikiFX App to check its regulatory information, as well as whether it has been exposed or complained before.
As many scam brokers are especially active before the Lunar New Year, investors also need to stay wary when investing and be careful about revealing your personal information. Dont trust brokers that claim you can make a fortune overnight, lest your hope of profiting turns into heavy losses.
Disclaimer:
The views in this article only represent the author's personal views, and do not constitute investment advice on this platform. This platform does not guarantee the accuracy, completeness and timeliness of the information in the article, and will not be liable for any loss caused by the use of or reliance on the information in the article.
Keep Silence to FX Scams? NO! EXPOSE Them on WikiFX!
A few months ago, a person from the trading solution provider company “PlatformsFx” contacted the victim for forex trading. According to the victim, the scammer and his so-called well-known gold trading platform took US$76,878 from her and put it into a presumably real forex account.
Archimendes said: “Give me a fulcrum, I can lift the whole earth”. This is the earliest appearance of the concept of leverage. The word leverage dates from 1724 and was originally used to describe the action of a lever. By 1824, by which time the Industrial Revolution was fully underway, the scope of the word had expanded to include the power of a lever and therefore the obtaining of a mechanical advantage. It is simple to say that if you want to invest $10,000 in the forex market, you can to it by leverage with small investment. Leverage is a financial tool, which can magnify the result of your investment, including gain or loss at a fixed ratio.
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