When the pyramid is too big to pay, thus they must aggressively source for new victims.

It will collapse eventually once their payout amount > than incoming fund since there is no real trading behind.

The first collapsed is in 2015, follow by 2018, next one is around the corner.

This post has been edited by terrytan: Sep 4 2021, 12:19 AM

Sorry my mistake. Not 2018. It's been many years. So my memory may not be right for which year. Your friend must be one of the pioneer scammers.

2015 - Hong Kong & Singapore cases
https://www.todayonline.com/singapore/six-c...lm-scheme-forex
https://www.financemagnates.com/binary-opti...nsed-operators/

They continued their scam activity with New Zealand FSP registration and got deregistered by NZ FSP after scammed a lot victims. All investors loss their money and they were told by the TriumphFX scammers that their funds were freezed by New Zealand government. I understand their fund were sent to offshore, not New Zealand. My friend parent was one of the victims.

After that, they obtained Vanuatu license and continue their scam journey with the same master account GM Trader. Around 2017-2018, there are a big group of investors funds where transferred to a Forex trader in TriumphFX and loss everything. One of the victims is my client.

Based on above all, i trust the victims selectively game over by group sales, any group that are not productive, they will plan to end it with excuses or losses.



This post has been edited by terrytan: Sep 4 2021, 11:36 PM

No doubt the scammer group has been around for 7-8 years but they scammed victims one after another. Yet still can use this beautiful lie to cheat innocent and greedy investors. Really strong syndicate leaders!

Introducing for commissions are quite normal, even public mutual fund or any insurance investment also come with commission. The main point is those scammers dare to introduce to earn commission by beautiful lies.

Ok LAST CALL!!!

Not true. Every brokers are the same with high leverage, copytrade or mam/pamm system. They run the high leverage trading under offshore license and maintain top tier license at the same time.

Scammers have all kind of excuses and stories for you. It's beautiful lies. Dont fall into it.

This post has been edited by terrytan: Sep 22 2021, 04:47 PM

They are scammers, nothing is impossible. Let see hows the game end this round and what are the excuses or stories again. May be they will say "Vanuatu government freeze their account?" Their excuses are kind of lame but people still buy it.

Regardless which offshore companies they are using, they are still running the SCAM fund using 3rd party depositors facilities. Can 100% assure that non of the fund collected goes to Cysec.

Well said.

One correction, TriumphFX never obtain any FCA license, but only FCA registration. It's 2 different things, license mean they have UK company and bank account to run in UK, but for the registration, it's mainly a cross border permission for EU countries to run business in UK by using the Cysec company and bank account.

No matter UK or Cysec, it's still nothing to do with their SCAM fund.

This post has been edited by terrytan: Sep 26 2021, 06:28 PM

Dont think the article is about CP Markets, the victims were scammed end of last year. Which FX SCAM ended last year? Gold Tinkle?

Got ya. Veonco on FX SCAM list No. 77.

Good performance. Watch out the drawdown and make sure no high risk martingale strategy being used.

Unfortunately, the master account has hide the actual trading history.

This post has been edited by terrytan: Oct 7 2021, 12:30 AM

SKL,

You cant just come over here and said a Forex SCAM like primefx is not a Forex SCAM. Proof it.

This thread has been proven correct again again and again by all the elite members here.

This post has been edited by terrytan: Oct 8 2021, 05:48 PM

My expertise and experiences told me PrimaFX do not hold any top tier license, thus it has no credibility and not trustworthy. Offshore broker can do anything they like without strict compliance monitoring. Almost 100% of offshore brokers are the same. SCAM!

I have 15 years FX industry experiences. Logically, if a real trader has such beautiful performances, he/they will not trade with an unknown offshore broker. Why they cant trade with any top tier brokers, reason is they cant manipulate the trades with other brokers.

I taught my team, my investors and students simply learn to read Myfxbook start with checking the broker license, if the broker has no valid top tier license, end your DD, it's a SCAM. Dont waste further time to do any checking. Broker is similar to a BANK, you dont invest or deposit your money with an offshore bank that has no license at all.

If you have seen Forex scams Myfxbook before, all their Myfxbook has similarity, beautiful curve, low drawdown chart, high monthly returns and offshore broker. Check DrFX first post of the thread if you have not seen any Forex scam Myfxbook before. If you need guide, read the first post as well. Scammers also like to create few orders a day only. They have no times to create too many fake trades as long as those fake trades enough to give them the fake ROI. They cant afford to have losing months because this will affect their sales. That's how ponzi scheme work. Try few months drawdown or cant withdraw, the entire pyramid collapsed because marketers and investors confident are affected. In real life, holy grail do not exist, all traders or strategies have drawdown period, except fake FX.

You are FREE to check and share your Myfxbook link for the copy trade account that under good broker. May be you can proof all of us here wrong. I used to be like you, check by copy trade to genuine broker, after so many Forex Scams, i think no point check any further, all are the same. SCAM!

This post has been edited by terrytan: Oct 9 2021, 05:43 AM

Got ya. Thanks for sharing.

Investors must learn to do your own due diligence before invest. Check the performances before invest. Not by words or mouth.

My understanding is Singapore bank offer lower leverage and non MT4/MT5 platform.

If your trading does not required high leverage, then should be fine.

You can get stamping for any kind of agreements for very cheap price. Just like your rental agreement.

HOWEVER, it did not represent anything. No law enforcement, no guaranteed, nothing. It's just a trick to make some newbies think they are real and genuine.

We dont need that in genuine FX. LOL

This post has been edited by terrytan: Oct 14 2021, 10:59 PM

You can deposit with the same method by split into few days or same day with different deposit methods.

Yes, correct. Some brokers also offer indemnity insurance protection under offshore jurisdiction.

Try to avoid that. It's very hassle. Form to fill in, questions to answer, some local branches do not entertain you if they know it's for FX.

Many brokers offer local bank deposit nowadays. You can also perform wiretransfer through e-banking.