Behind the screaming advertisements about unbelievable profits with minimal risks there is often a carefully planned scheme of fraud and money-laundering by Forex brokers. However, they often have nothing to do with this market.

Not surprisingly, many websites of such fraudulent brokers look the same or even belong to the same legal entities with several "brokerage" websites with different names.

One of the fraud schemes is as follows: the broker "S" is a managing company for two brokers, one of which offers binary options and the other is engaged in cryptocurrency trading. Thus, the managing broker has two highly specialized subsidiaries. Officially, there is no information on their websites about the connection between these entities. However, you can often find stories on online review sites about clients (or rather, their capitals) being transferred from one brokerage company to another. The reasons for such transfers are always different.

Managers of the organizations may argue, for example, that one of the brokers stops its activity and it is necessary to transfer them to another platform in order to save the money or the transfer is necessary to facilitate the withdrawal of the money and so on.It should be noted that when transferring from one platform to another, the client should sign a special document, renouncing any claims to the first broker. The company can use this document to its advantage if a dispute arises.

When a client is transferred to another platform, broker employees actively accrue bonuses and offer credits. However, according to the rules on the site, it is impossible to withdraw these funds because they can only be used through opening a position, i.e. trading. Such a mechanism allows employees to "burn" client funds. Sometimes the capitals are simply zeroed out. Another scheme is the twin sites. Different companies have the same website design and documents regulating the relationship between the broker and the client. In this situation, the admonition "beware of fakes!" is irrelevant, because there is no original anyway. The question of the legality of such imitations remains open. We can assume that such sites are used by fly-by-night companies, because a self-respecting broker with years of experience would not copy a simple interface and documents. The screenshots shown were taken from blacklisted companies.

These "brokers" have no regulators and operate outside the law. Reviews about their activities can be found a lot, and not all of them are negative. Unfortunately, such fraudulent brokers appear almost every day. If you have decided to invest in financial markets using various trading instruments, choose a company that has a license for such activities in your country. This will provide you with a minimum level of protection.

If you have already become a victim of pseudo-brokers, our advice is to contact specialists who will help you get your money back. In certain circumstances there is a chance of a refund. Trying to figure it out on your own can only make the situation worse.