OLYMPTRADE’s IB Defrauded Investor Through Fake “Investor Group”

In speaking of investment, broker scams in forex trading seem to be a recurring theme. As with many industries, the fast growing forex industry also has plenty of predators, who look to take advantage of newcomers. These illegal brokers target the typical mindset of investors to make money quickly and induce investors to engage in unregulated or high-risk investments, causing them heavy losses. Recently, Ms. ANGELIC0905 from Indonesia told WikiFX about how she was defrauded by the illegal broker OLYMPTRADE.

Stay away from the illegal broker OLYMPTRADE, lest you become a victim like me! I was first introduced to the broker by an IB named Juni Sarjiyanto, who invited me to the telegram group called “Option Trader Crazy Action”. The group was shown to have 106 members, and they frequently shared screenshots showing their profits on OLYMPTRADEs trading platform, receiving the marvel and inquiries of others.

Seeing the very attractive profits of other group members, I was tempted to try my luck too. So when Juni Sarjiyanto asked me whether I want to sign up at OLYMPTRADE, I agreed without much hesitation and sent a US$1,000 deposit to a designated personal account. But unexpectedly, it was only a few days before my account on the platform was frozen, and Juni Sarjiyanto also became out of reach. By then I finally realized that the whole thing has been a scam right from the start.

Through investigation, WikiFX found that all the “members” actively discussing and sharing screenshots in “Option Trader Crazy Action” are no more than sockpuppets operated by Juni Sarjiyanto. What‘s more, ANGELIC0905 is not the only victim, as WikiFX have received complaints against OLYMPTRADE from more than one investor recently. This suggests the scam broker may still be lurking around, so please beware of OLYMPTRADE and don’t be the next victim of it.

Many investors may ask, “it looks like the broker‘s offer can bring me big profits, but it may also be a way to trick me into depositing, so how can I know whether my broker is a compliant one or not？ And how should I avoid being scammed？” The first step is to do a thorough search. That means checking a broker’s profile in detail, such as location of the broker's headquarter, its term of business, regulatory status and customer feedback. Make sure you dont miss anything suspicious.

If you feel you are being scammed, contact us at wikifx@wikifx.com for assistance to recover your money. You can also download “WikiFX App”, a broker inquiry app, at Google play or Apple store.