UNREGULATED FOREX SCAMS

Unregulated Forex Scams have been around for many years. This is a difficult scam to spot as there are many legitimate providers out there who offer a fair service and are regulated.

The Forex industry is a global industry with big volumes of transactions per day. Users are offered to trade FX online via trading platforms with high leverage. This leverage gives them buying power which in turn allows users to earn more money for every single movement in their favour.

The negative part of this is when a position is not in your favour, you end up loosing a lot more due to the high leverage. The excitement and rush around the FX industry attracts millions of investors globally which is why so many scammers prey on the same customers that regulated brokers work with.

HOW DO THEY SCAM YOU?

The majority of scammers use unregulated brokerages in third tier regions in the world. The loose regulatory oversight and requirements to open a financial institution in these regions make this easy for many to get into the industry who would not be able to do so in regulated environments.

Scammers lure you in with high bonuses on your deposits, talk of making money whilst you sleep and clever sales pitches which have been perfected over many years of scamming.

The often show you a win on a few of your first trades and get you to invest larger sums of money once they’ve gained your trust.

Then you start requesting withdrawals which get delayed, they stop responding or they open trades/manipulate the trading platform to tank your account to zero.

Due to the fact that they aren’t regulated, it makes it very hard to go to anyone or for victims to pursue the scammers leaving a trail of victims in their wake.

Dear Clients,

Kindly note that Aurora Capital Finances will not continue to provide any trading services at this time.

Company Closure procedures have been put in place, and all trading accounts will be closed by 01 February 2024.

Should you require any assistance, please contact the Support department on email:
[email protected]