There are many kinds of fake brokers. They generally promise investors high profits, guaranteed returns, zero spreads, etc., in order to induce investors to deposit a lot of money.
Type 1: They have a regulatory license in one country and falsely claim that they have a regulatory license in another country (often falsely claiming a more credible regulator);
Type 2: Fake regulatory agency licenses. The forged licenses may come from some offshore island countries, or they may come from a non-existent institution. Usually, these platforms are most likely to be companies that specialize in fraud;
Type 3: The dummy has a formally regulated broker, clones the website of a formally regulated broker, and pretends to be engaged in business activities.
Type 4: The platform is compliant to a certain extent, but it does not necessarily have full authorization (for example, the UK FCA license has the difference between a full license and limited license), and it may not be able to carry out transaction business (for example, the Hong Kong SFC license has many financial services activity classification), or not necessarily licensed (eg having a New Zealand FSPR number does not imply FMA authorization).
Type 5: Unregulated platforms, such platforms are brave enough to be themselves, without currency regulation, and openly conduct trading business.
Most of these fake traders entered by Brokersview are unsupervised, or they are supervised by cards, have expired supervision, and operate beyond the limit. These fraudsters lure investors into depositing funds by promoting capital preservation and high yields when they can’t squeeze money out of investors. From time to time, people disappear, shut down the website, and then re-register a new website to continue to deceive people, and the cost of crime is very low.
At present, although these fake traders who are defrauding have not yet absconded, they may abscond at any time after they harvest this wave, but sooner or later! If you have already entered the pit, then please withdraw immediately to avoid greater losses.
The following shows you some of the newly entered fake traders. For more fake traders, please click: https://www.brokersview.com/brokers