HYFX - are they legit?

John88

Recruit
Messages
2
Hi guys, sorry I am new here (but I am very happy I did my DD and found you all!) - as I seem to have gotten into a similar scam that has been reported in different versions by many of you before - although my connection was not the tinder / dating app girl but someone who "accidentally" connected with me on WhatsApp - and after a few rounds of talks comes the story of FOREX and the "famous uncle' at HSBC and her trading tips - that seem to all pan out - and offer me to trade along on HYFX ... but just the email alone (yahoo?) and only a shop address (and only on the Chinese site) were another red flag. Let alone that the story is too good to be true. Does anybody else have any experience with HYFX? I didn't invest any money yet (thanks God)... Thanks guys!
 

PK494

Sergeant
Messages
208
Hey! Glad that you found this forum. Thanks for the story.

Can you provide us the link to that page and may let us know the name they used so that when others start googling it their names might shows up so that other potential victims won't fall for it?

Thanks Bro!
 

John88

Recruit
Messages
2
Hey! Glad that you found this forum. Thanks for the story.

Can you provide us the link to that page and may let us know the name they used so that when others start googling it their names might shows up so that other potential victims won't fall for it?

Thanks Bro!
Sure thing.
hyfxm.com/en/

They claim to be regulated in the States (Not mentioning any HK authority oversight) - I'm new to this but I looked at the NFA and downloaded their registry - I'm not 100% sure if I look at the right place but I couldn't find them. This - plus the yahoo email address and the whole 'uncle' story makes it highly suspicious.
 

FmrBrokerExecutive

Master Sergeant
Messages
260
Hm... Site looks Chinese in origin but registered with the US NFA?
Very few brokers regulated in the US and this does not look like one unless they are indeed a legitimate IB of Forex.com, IG, OANDA, and the few US regulated brokers. I suggest you ask them for more info on that.
 

Tully1

Recruit
Messages
1
Sure thing.
hyfxm.com/en/

They claim to be regulated in the States (Not mentioning any HK authority oversight) - I'm new to this but I looked at the NFA and downloaded their registry - I'm not 100% sure if I look at the right place but I couldn't find them. This - plus the yahoo email address and the whole 'uncle' story makes it highly suspicious.
I met someone on Tinder who told me she made 1 million USD a month on forex trading as her father was an old HSBC banker and had knowledge of foreign exchange movement before hand . Took me through a demo account on Meta4 using the brokers hyfx brokers and then asked me to deposit money into their account . All I needed was to supply a photo and email address. Surely financial institutions need to verify Addresses and Identification before opening accounts ? Not to mention the insider trading aspect .
 

hpwu88

Recruit
Messages
1
Has anyone determined whether HYFX is legit yet? I met someone on AsianDating.com and she’s been feeding me her trades about once a week while we’ve been talking about twice daily. I haven’t shown any interest in her forex trading but recently she wanted me to open up a simulation account. I told her already use TD Ameritrade for stocks and can use their platform for forex trading. She wants me to compare platforms but I’m afraid she’ll feed me faked data from HYFX. The leverage requirements are different too.

I told her I couldn’t find any info on HYFX on the internet so she said she’ll send me more info on them. I have a feeling I’ll be ghosted.

It’s a pity. I didn’t think a divorced woman with a child would be involved in this but from reading other posts, it does seem to happen. I get the vacation photos, photos of her and her daughter, etc.
 

Pharaoh

Colonel
Messages
19,959
Chances are she's not a divorced woman with a child. A lot of those "lovely ladies" on dating sites are using photos taken from other people's social media accounts. Unless you've seen her in a video chat, you really have no idea who's on the other end of the conversation.

hyfxm.com - domain registered on July 7th, 2020 after being dropped by a previous owner. Yet it claims a copyright all the way back to 2008.

The regulatory page claims they are registered with the NFA in the US, but does not give an NFA number. Here's a fun fact - any person or company that's even applied to the NFA for anything gets a number. "We applied months ago and expect it any day now" is an excuse used by many scam companies. The NFA is also very particular about requiring registered firms to show the number on their websites. No number = NOT regulated by the NFA.

One more red flag. HYFX is currently using hyfxM.com. That 5th letter in the domain name would be even easier to change, because the contact address is hyfx.h@yahoo.com. This would let them shed domain names and block unhappy clients without losing commications with happy clients (possibly only happy because they haven't tried to withdraw yet).

Simple advice. If you meet someone on a singles site, they shouldn't be trying to recruit you into any investments. Even a good investment suggestion, like a well known stock in an uptrend, is a very odd topic for people who should be discussing general backgrounds, likes and dislikes, etc. to see if they are compatible enough to actually meet. If a reliable stock is an odd suggestion, a high profit investment at a BS forex broker is an alert siren screaming ROMANCE SCAM.

If you don't want to dump her, go ahead and paper trade any of her calls (which need specific entry points (price and/or time) to be followed later by specific exit points sent immediately before or after she exits. Its easy to say "I bought Tesla at the lowest price a month or two back and then sold it at a really high price 5 days ago." It's much harder to say "I'm going to open it now at this price" or "I'm opening it at this price if that price is reached anytime today or tomorrow" followed by "I'll be exiting when it hits this price or at this time" when she's ready to exit. I'll wager she's not nearly as profitable (or maybe even racks up swift losses) if you try to duplicate her trades in a demo account of a broker she's not connected to. I'll wager if you propose this to her, she'll find some reason to decline.
 

PK494

Sergeant
Messages
208
Has anyone determined whether HYFX is legit yet? I met someone on AsianDating.com and she’s been feeding me her trades about once a week while we’ve been talking about twice daily. I haven’t shown any interest in her forex trading but recently she wanted me to open up a simulation account. I told her already use TD Ameritrade for stocks and can use their platform for forex trading. She wants me to compare platforms but I’m afraid she’ll feed me faked data from HYFX. The leverage requirements are different too.

I told her I couldn’t find any info on HYFX on the internet so she said she’ll send me more info on them. I have a feeling I’ll be ghosted.

It’s a pity. I didn’t think a divorced woman with a child would be involved in this but from reading other posts, it does seem to happen. I get the vacation photos, photos of her and her daughter, etc.

Lucky that you've been ghosted because you are suspecting that "she's" lying already. A lot of victims went ahead and lost a lot of money and emotional energy into this. Look at the bright side that you didn't have any monetary loss.

"She" might not be a "she" and her story is setup to lure good and kind hearted people. Don't be fooled, if that dude still on dating app, please report and ban that user, although setting up an account is fairly easy for them.

You got away a good one brother.
 
Top