Trading scams continually target desperate workers. The US Regulators have alerted customers about the potential fraudulent parties committing numerous scams with unauthorized trading firms. It mainly targets individuals who have lost their jobs during the rise of the COVID-19 pandemic. The CFTC declared a warning about frauds that advertises unrealistic returns from trading in unlisted firms. Such kinds of trades offer instruments such as crypto in addition to binary options and then levy high costs to access the represented profits.
These frauds involve unregistered brokers promoting forex programs, binary options, and cryptocurrencies. The brokers typically implement social media to focus on people who have lost their jobs and seek a better income opportunity. The advisory warned that it is generally an easy task to fake trading success on social media sites and gave out red flags to help investors determine possible frauds.
Forex trading, binary trading, or any trading can be uncertain. Typically the fraudster’s focus is to get buyers to pay the straight-up deposit and later on pay massive taxes, commissions, and fees. The CFTC has cautioned that it receives hundreds of complaints each day regarding the scams being committed by these fraudsters. The fraudsters, to be honest, are inhuman beings with their constant attempt at squeezing all the money from these innocent investors. We suggest you stay safe from these scammers.
If you have lost money in any such fraud, you can contact us at Contact us directly for a free consultation.