Jhens

Recruit
Messages
4
Please stay away from this broker. They are scammers. And I am one of the victims.

I will share my experience here. And I am sharing the feedback from other victims as well.

How they approach victims?

They will approach the victims through social platforms (e.g. Tinder, China Cupid, Facebook Messenger). For my case, the scammer approached me through FB Messenger. I joined a group for stock investment in FB, and the scammer was also one of the members in that same group (means the scammer will join any potential FB groups and scam the other group members).

How they start the scam?

They will start to message you and chat like a friend. They will present themselves as rich businessman / woman, or very successful in their career. And this normal chit chat will take for 1-2 months. Within these 1-2 months they don’t talk about investment, but just talk about life. They are very friendly and very concern for your daily work and healthcare activities. When you started to trust them, they will indirectly inform you about forex /spot gold. They will mention that they have a relative / friend who has retired and came back from Wall Street / UK, a good economic analyst and able to give good trading direction in forex. They will show you they earned good profit by showing their trading records, usually they traded 20 lots or more, and earned profits of USD 20K and above in one trade. They will pretend they are your good friend and subsequently seduce you to make deposit into their broker company.

What are the common statements they used?
  • “This is the good time to invest, I want to help you to earn more money to achieve your life goal”;
  • “Trust me, we are using MT4/MT5 platforms, means our company has strong financial background”;
  • “We don’t want to spend much money on regulatory matters, since we are just starting our business, and we are dealing with regional clients only” (the scammers usually claimed that they are from China / Hong Kong;
  • “The website is upgrading, so we will give you the customer service through Whatsapp / WeChat”.

What are the things need to be careful?
  • In their website, they only have email, but no other contact methods. This means if they deleted you from the Whatsapp / WeChat, you have no way to contact them.
  • During account opening, they will ask you to upload your bank card (front and back), this is very dangerous! Usually legal brokers will request utility bill or bank statement to verify your address, but not uploading the whole card (Be careful: they can do illegal transaction with your card!)
  • They have no official bank account, all deposits through their “local partner” 3rd party bank account.

What will happen next?
  • They will let you profit for few trades and then seduce you to trade larger lots, after that give you a wrong direction so you will loss all your money in the trades; OR
  • They will say they will help you to trade (because you are busy with your works) by asking for your password, then they will do wrong trades and loss all your money; OR
  • When you request for withdrawal, they will all disappear. Your MT5 account still there, money still there, but no way to withdraw (all the Whatsapp / WeChat deleted, email not working, website personal area not functioning). And this was what happening to me!
I hope this sharing helpful to prevent scam.

There is a new website with different logo (ksgmarketsworld.com/) which I suspect from the same group to scam new victims. Another suspicious broker Evast Prime shares the almost similar website design too, be careful.
 

FxMaster

Lt. Colonel
Messages
9,539
Please stay away from this broker. They are scammers. And I am one of the victims.

I will share my experience here. And I am sharing the feedback from other victims as well.

How they approach victims?

They will approach the victims through social platforms (e.g. Tinder, China Cupid, Facebook Messenger). For my case, the scammer approached me through FB Messenger. I joined a group for stock investment in FB, and the scammer was also one of the members in that same group (means the scammer will join any potential FB groups and scam the other group members).

How they start the scam?

They will start to message you and chat like a friend. They will present themselves as rich businessman / woman, or very successful in their career. And this normal chit chat will take for 1-2 months. Within these 1-2 months they don’t talk about investment, but just talk about life. They are very friendly and very concern for your daily work and healthcare activities. When you started to trust them, they will indirectly inform you about forex /spot gold. They will mention that they have a relative / friend who has retired and came back from Wall Street / UK, a good economic analyst and able to give good trading direction in forex. They will show you they earned good profit by showing their trading records, usually they traded 20 lots or more, and earned profits of USD 20K and above in one trade. They will pretend they are your good friend and subsequently seduce you to make deposit into their broker company.

What are the common statements they used?
  • “This is the good time to invest, I want to help you to earn more money to achieve your life goal”;
  • “Trust me, we are using MT4/MT5 platforms, means our company has strong financial background”;
  • “We don’t want to spend much money on regulatory matters, since we are just starting our business, and we are dealing with regional clients only” (the scammers usually claimed that they are from China / Hong Kong;
  • “The website is upgrading, so we will give you the customer service through Whatsapp / WeChat”.

What are the things need to be careful?
  • In their website, they only have email, but no other contact methods. This means if they deleted you from the Whatsapp / WeChat, you have no way to contact them.
  • During account opening, they will ask you to upload your bank card (front and back), this is very dangerous! Usually legal brokers will request utility bill or bank statement to verify your address, but not uploading the whole card (Be careful: they can do illegal transaction with your card!)
  • They have no official bank account, all deposits through their “local partner” 3rd party bank account.

What will happen next?
  • They will let you profit for few trades and then seduce you to trade larger lots, after that give you a wrong direction so you will loss all your money in the trades; OR
  • They will say they will help you to trade (because you are busy with your works) by asking for your password, then they will do wrong trades and loss all your money; OR
  • When you request for withdrawal, they will all disappear. Your MT5 account still there, money still there, but no way to withdraw (all the Whatsapp / WeChat deleted, email not working, website personal area not functioning). And this was what happening to me!
I hope this sharing helpful to prevent scam.

There is a new website with different logo (ksgmarketsworld.com/) which I suspect from the same group to scam new victims. Another suspicious broker Evast Prime shares the almost similar website design too, be careful.
The web is down, I can't access it.
 

FxMaster

Lt. Colonel
Messages
9,539
Let's start with adding your story as a review here https://www.forexpeacearmy.com/forex-reviews/18274/www.ksgmarketsworld.com
and then follow my below suggestions

Invite the company by using the invite company option to your thread. And if you are unable to locate the option then this thread " Tutorial: How to Invite a company to your thread. " Will help you to find out.

Note: Invitation button will be enabled when your first post reaches 4 days old.
Note 2: Make sure to follow the suggestions correctly, when you do it correctly you will get below message in your thread automatically.
Note 3: Make sure to share your account number (Only account number). Many time this help companies to find out you are genuine or not.

OP Screen shot.jpg
 

Jhens

Recruit
Messages
4
Let's start with adding your story as a review here https://www.forexpeacearmy.com/forex-reviews/18274/www.ksgmarketsworld.com
and then follow my below suggestions

Invite the company by using the invite company option to your thread. And if you are unable to locate the option then this thread " Tutorial: How to Invite a company to your thread. " Will help you to find out.

Note: Invitation button will be enabled when your first post reaches 4 days old.
Note 2: Make sure to follow the suggestions correctly, when you do it correctly you will get below message in your thread automatically.
Note 3: Make sure to share your account number (Only account number). Many time this help companies to find out you are genuine or not.

OP Screen shot.jpg
Okay. Noted.
Here are their other scam websites too:

 

Jhens

Recruit
Messages
4
Let's start with adding your story as a review here https://www.forexpeacearmy.com/forex-reviews/18274/www.ksgmarketsworld.com
and then follow my below suggestions

Invite the company by using the invite company option to your thread. And if you are unable to locate the option then this thread " Tutorial: How to Invite a company to your thread. " Will help you to find out.

Note: Invitation button will be enabled when your first post reaches 4 days old.
Note 2: Make sure to follow the suggestions correctly, when you do it correctly you will get below message in your thread automatically.
Note 3: Make sure to share your account number (Only account number). Many time this help companies to find out you are genuine or not.

OP Screen shot.jpg
Just wondering, is there a possible for us to inform Metatrader that scam broker is using MT4 / MT5 to cheat traders?
 
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