Please help! Am I being Scammed? (gomltd.com)

TLL77

Recruit
Messages
10
I know NOTHING about trading and I need some people who DO know about it to PLEASE help me see if I am or not, or maybe being scammed…please read on...


Sorry for the wall of text!


About a month ago I matched with a girl on Tinder.

After a few days we started chatting, moved to using WeChat, and it turns out that she lives in Hong Kong and works in financial management audit, for a company there.


After about a week, whilst chatting she sends me a screenshot of a financial exchange graph (which I now know was from MetaTrader4) and she asks me: "Can you read this?"

Screenshot 1:

https://imgur.com/a/9g33Eu3


I noticed that it had BTCUSD in there and I said something about Bitcoin which I had got 0.3 of back in 2011 lol, but I have virtually no more experience with that stuff. so we chatted about that for a bit.


Over the next week, we chat like normal and the subject comes up every now and again, quite gently about how much she's making (she sent me 2 screenshots of deals she made on the days we were chatting, with dates, both with over $20,000 profit) and how I could make money too, quite easily.

Screenshot 2:

https://imgur.com/a/UlWErOZ

Screenshot 3:

https://imgur.com/a/05rjW1m


So, after a week of this type of talk (approximately 2 weeks after we first started chatting)

I ask her what website she uses to trade and tells me to get MetaTrader4 on my phone, so I do, and she says she'll help me learn how to trade.


To get a demo account up and running she lets me use the login details for her old demo account that her broker gave her.

***Please note the Image where she shows me how to open a new account seems to show that she herself is using a demo account (but I'm not sure, do you know?) - despite showing screenshots of her amazing profits over the previous week. But again, I'm not sure.***

Screenshot 4:

https://imgur.com/a/cQV9hXs


The demo account was loaded with $50,000USD to play with


Later that night she gives me a brief tutorial and after a few laughs I'm ready to try trading. We go through the deal flow and I lose $168 haha.


So in the days following this development, she contacts me almost every weekday with word from her analyst that there is a good deal opportunity coming usually in the next hour or so.


She'd send me messages like "Forecast upside target 5305, buy"

So after a slip up or two, roughly in my FIRST WEEK I made profits like $311, $6,273 $21,720, $12,230 etc etc


Even while this is all happening we chat regularly about many things and seem to get on really well.


She suggests that I open a real account but even though I am making these pretend profits I still don't really know what I am doing in terms of Stop Loss, Take Profit, Units, How to read the Graphs etc etc, so most of my deals feel like good luck so I mention this to her that I need to learn more….


So then she tells me she's gonna ring the MT4 manager at her broker and that she'll put me in contact with her. Which she does via WeChat.


During deals over 3-4 days this Mt4 manger broker person tutors me very briefly about some of the things I'm not sure about and I make a couple great deals and good profits around the $10,000 - $20,000 range.

This screen shot is my full deal history:

Screenshot 6:

https://imgur.com/a/dpyELE7


By now my feeling of "this is too good to be true" is ringing hard.

The MT4 manger asks if I'm still keen to open a real account and I go along with it and say yes so she sends me an application to fill in.

I say "I'll get back to you in a few days"



At that point I google their website. it looks kinda dodgy but says it is regulated by the NFA but I don't know what that means and the website is only about 6 months old.


By this time I'm even more suspicious, and worried that I 'll sign up and invest only to have my luck suddenly (or slowly) change and lose all my money and the original girl I met will unexplainably disappear.


So now, I am at a place where I don't know how to find out if this is real or these people are just trying to fleece me and others of my hard earned money.


I don't really know what questions I can ask you or them.


It seems to good to be true, but maybe its just a good opportunity uniquely timed with bitcoins recent upturn (we started chatting just before it took off again.)


Can a broker manipulate data on a demo account to make me think this is a sure thing? i.e. set the rise and fall, give me a forecast then i close when they say and it looks real?


What can I do to determine if this is a scam or a real opportunity?


What questions should I ask?


Should I email the broker and ask them something?


What would you do?


Remember, I know nothing of trading.


Thanks in advance for reading this far and any advice or experience you can offer!
 

FxMaster

Lt. Colonel
Messages
7,814
I know NOTHING about trading and I need some people who DO know about it to PLEASE help me see if I am or not, or maybe being scammed…please read on...


Sorry for the wall of text!


About a month ago I matched with a girl on Tinder.

After a few days we started chatting, moved to using WeChat, and it turns out that she lives in Hong Kong and works in financial management audit, for a company there.


After about a week, whilst chatting she sends me a screenshot of a financial exchange graph (which I now know was from MetaTrader4) and she asks me: "Can you read this?"

Screenshot 1:

https://imgur.com/a/9g33Eu3


I noticed that it had BTCUSD in there and I said something about Bitcoin which I had got 0.3 of back in 2011 lol, but I have virtually no more experience with that stuff. so we chatted about that for a bit.


Over the next week, we chat like normal and the subject comes up every now and again, quite gently about how much she's making (she sent me 2 screenshots of deals she made on the days we were chatting, with dates, both with over $20,000 profit) and how I could make money too, quite easily.

Screenshot 2:

https://imgur.com/a/UlWErOZ

Screenshot 3:

https://imgur.com/a/05rjW1m


So, after a week of this type of talk (approximately 2 weeks after we first started chatting)

I ask her what website she uses to trade and tells me to get MetaTrader4 on my phone, so I do, and she says she'll help me learn how to trade.


To get a demo account up and running she lets me use the login details for her old demo account that her broker gave her.

***Please note the Image where she shows me how to open a new account seems to show that she herself is using a demo account (but I'm not sure, do you know?) - despite showing screenshots of her amazing profits over the previous week. But again, I'm not sure.***

Screenshot 4:

https://imgur.com/a/cQV9hXs


The demo account was loaded with $50,000USD to play with


Later that night she gives me a brief tutorial and after a few laughs I'm ready to try trading. We go through the deal flow and I lose $168 haha.


So in the days following this development, she contacts me almost every weekday with word from her analyst that there is a good deal opportunity coming usually in the next hour or so.


She'd send me messages like "Forecast upside target 5305, buy"

So after a slip up or two, roughly in my FIRST WEEK I made profits like $311, $6,273 $21,720, $12,230 etc etc


Even while this is all happening we chat regularly about many things and seem to get on really well.


She suggests that I open a real account but even though I am making these pretend profits I still don't really know what I am doing in terms of Stop Loss, Take Profit, Units, How to read the Graphs etc etc, so most of my deals feel like good luck so I mention this to her that I need to learn more….


So then she tells me she's gonna ring the MT4 manager at her broker and that she'll put me in contact with her. Which she does via WeChat.


During deals over 3-4 days this Mt4 manger broker person tutors me very briefly about some of the things I'm not sure about and I make a couple great deals and good profits around the $10,000 - $20,000 range.

This screen shot is my full deal history:

Screenshot 6:

https://imgur.com/a/dpyELE7


By now my feeling of "this is too good to be true" is ringing hard.

The MT4 manger asks if I'm still keen to open a real account and I go along with it and say yes so she sends me an application to fill in.

I say "I'll get back to you in a few days"



At that point I google their website. it looks kinda dodgy but says it is regulated by the NFA but I don't know what that means and the website is only about 6 months old.


By this time I'm even more suspicious, and worried that I 'll sign up and invest only to have my luck suddenly (or slowly) change and lose all my money and the original girl I met will unexplainably disappear.


So now, I am at a place where I don't know how to find out if this is real or these people are just trying to fleece me and others of my hard earned money.


I don't really know what questions I can ask you or them.


It seems to good to be true, but maybe its just a good opportunity uniquely timed with bitcoins recent upturn (we started chatting just before it took off again.)


Can a broker manipulate data on a demo account to make me think this is a sure thing? i.e. set the rise and fall, give me a forecast then i close when they say and it looks real?


What can I do to determine if this is a scam or a real opportunity?


What questions should I ask?


Should I email the broker and ask them something?


What would you do?


Remember, I know nothing of trading.


Thanks in advance for reading this far and any advice or experience you can offer!
Can we get the broker name, please?
 

Pharaoh

Colonel
Messages
19,690
This looks to me like Romance Scam went on a hot date with Forex Scam. :D

The NFA license is not a license. It's a 4.14(a)(8) exemption from needing a license. Go here:

https://www.nfa.futures.org/members/cpo/easy-reference-guide-part4.pdf

and scroll down to page 7.

To qualify, the firm must be a CTA that:

CTA who only provides advice to pools operating under a 4.13(a)(3) exemption or provides advice as a registered investment adviser of 4.5 exempt pools, which is incidental to its securities advice and does not otherwise hold itself out as a CTA

Or

CTA whose trading advice is only incidental to the conduct of its cash market, trade association or farm organization business or registered AP or IB incidental to IB business

I'm not an expert on NFA licenses and exemptions, but this exemption does not seem to apply to brokers with individual accounts.

The main question in my mind is whether this "broker" is misusing an NFA exemption or if the company is a clone firm (deliberately named to be similar to an existing company holding a license or exemption).

I strongly suggest you get in touch with the NFA immediately. Since they can be slow to reply to emails, you may want to try a phone call in addition to an email with all the details.
 

TLL77

Recruit
Messages
10
Same company name and street address:

https://beta.companieshouse.gov.uk/company/11744678

It appears to be owned by a 22 year old person in China. Notice that the nature of business is:

99999 - Dormant Company

Personally, I'd want the owner of my brokerage to be a little more experienced and to have an active company. :)
Awesome detective work.

Do you (probably stupid question) think if I invested money with this company it would be a bad move?
 

Pharaoh

Colonel
Messages
19,690
Let me think about this for a few minutes . . . . . . . . . . . I'll put myself in your shoes and ask you.

A girl on a dating site wants to show me profitable trades instead of arranging, let's be polite and say "stuff that happens on dates." ;)

She introduces me to her account manager. Demo trades are so amazingly successful that it's like a magical money producing machine.

I check the company's claimed NFA license. There is a registration, but it's for an exemption for certain types of trading advice, not a license for running a forex brokerage.

The website and NFA exemption are both under a year old. The UK company behind the NFA exemption is dormant and all stock is owned by someone who is only 22 years old. Other than the NFA number on the page, there's not even any proof that the NFA exemption or UK company have any real connection to the broker website.


So, do you advise that I should immediately call the NFA (and probably also Tinder) to inquire about possible fraud, or should I allow myself to be blinded by demo trades at a very new, unknown, and apparently unregulated forex broker, invest a ton of cash, and pray that an NFA exemption will somehow let me recover money I've wired overseas if this later turns out to be a giant scam?
 

TLL77

Recruit
Messages
10
Let me think about this for a few minutes . . . . . . . . . . . I'll put myself in your shoes and ask you.

A girl on a dating site wants to show me profitable trades instead of arranging, let's be polite and say "stuff that happens on dates." ;)

She introduces me to her account manager. Demo trades are so amazingly successful that it's like a magical money producing machine.

I check the company's claimed NFA license. There is a registration, but it's for an exemption for certain types of trading advice, not a license for running a forex brokerage.

The website and NFA exemption are both under a year old. The UK company behind the NFA exemption is dormant and all stock is owned by someone who is only 22 years old. Other than the NFA number on the page, there's not even any proof that the NFA exemption or UK company have any real connection to the broker website.


So, do you advise that I should immediately call the NFA (and probably also Tinder) to inquire about possible fraud, or should I allow myself to be blinded by demo trades at a very new, unknown, and apparently unregulated forex broker, invest a ton of cash, and pray that an NFA exemption will somehow let me recover money I've wired overseas if this later turns out to be a giant scam?
Awesome stuff! thank you so much. This is incredibly helpful.
 

TLL77

Recruit
Messages
10
Let me think about this for a few minutes . . . . . . . . . . . I'll put myself in your shoes and ask you.

A girl on a dating site wants to show me profitable trades instead of arranging, let's be polite and say "stuff that happens on dates." ;)

She introduces me to her account manager. Demo trades are so amazingly successful that it's like a magical money producing machine.

I check the company's claimed NFA license. There is a registration, but it's for an exemption for certain types of trading advice, not a license for running a forex brokerage.

The website and NFA exemption are both under a year old. The UK company behind the NFA exemption is dormant and all stock is owned by someone who is only 22 years old. Other than the NFA number on the page, there's not even any proof that the NFA exemption or UK company have any real connection to the broker website.


So, do you advise that I should immediately call the NFA (and probably also Tinder) to inquire about possible fraud, or should I allow myself to be blinded by demo trades at a very new, unknown, and apparently unregulated forex broker, invest a ton of cash, and pray that an NFA exemption will somehow let me recover money I've wired overseas if this later turns out to be a giant scam?

Oh, btw today I contacted the mt4 manager that i was put in contact with service and asked her:
"What date did Global Online Market Ltd start?"

She replied:
"We have been established for a long time. We have been serving customers all over the world for more than 10 years."

lol
 
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