Spring Is Coming, WATCH OUT!

Gradually, the Northern Hemisphere enters spring. With the recovery of the global economy, illegal forex brokers have also begun to emerge, sharpening their swords to investors.

We are all familiar with the spring (season), but this broker called “Spring” is not as “gentle” as investors think. Recently, WikiFX received heavy complaints towards forex broker Spring (Spring Information Ltd). One of the investors from Spain told WikiFX his experience with the broker.

In December 2020, the investor got in contact with a Chinese girl named Ellie on Tinder. The conversation went pretty well on WhatsApp, and soon she sent him photos of some money that she earned in her recent transaction. It was $20,000. Then she sent him photos of some jewelry made of diamonds and started to ask him how much he could earn monthly.

Ellies photo

“Ellie suggests downloading MT5 on my mobile and starting some trades in the demo account. I take the advice, and everything goes on well.” The investor recalled.

Ellie's story was that she had an uncle telling her when was the moment to make transactions. Soon the investor made contact with the girls broker to open a live account. After about 5 weeks of more or less successful trades in XAU/USD, his funds was transferred to a Spring Account.

The investor's trading account

The investor's trading record

Then the investor was asked to invest all his money and kept the minimum in his bank account for the daily necessities. The girl lent him $20,000 and encouraged him to invest more. “She said I was her only European friend, and she had taken a big leap forward in trusting me, and I should do the same...but when I hoped to withdraw my fund, she suddenly became insensitive” He sighed.

Investors fund withdrawal request

The next day the girl started to act distant with the investor, and after a few hours he couldn't deliver to her more messages on WhatsApp. After one and a half weeks, he still couldn't deliver her any messages, so he started to panic and tried to contact the customer service and then... the customer service didn't reply either.

As per checking, Spring only has a rating of 1.13 on the WikiFX APP. It has been verified that this broker currently has no valid regulatory information, please be aware of the risk!

Springs rating on the WikiFX APP

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