Someone called Meiling Chen contacted me on LinkedIn and we continued to chat on WhatsApp. After a while she told me that she is making money by trading gold. She showed me how she does it and put me in contact with her "financial advisor" Mr. Williams. He opened a demo account on MT4 for me and showed me how to trade. I assumed that this is a scam but had fun to play along. I acted completely stupid and admired his patients with me. Instead if making demo money I always lost because I did not always follow his recommendation. My goal was to figure out how they work.
The company is SRO Capital Management Ltd registered on 21 August 2020 in London. Their webpage
srofx.com gets blocked by my virus scanner. This is how they work:
They open a demo account for you. Then they tell you that you should use XAUUSD.sro to trade. This is an exact copy of the real gold spot market XAUUSD but they have the ability to influence the price. They then send you a WhatsApp and tell you that it is time to trade and tell you the target price and if you should sell or buy. When they told me to trade I run two trades on XAUUSD.sro and XAUUSD in parallel. Suddenly the price started to deviate and the trade on XAUUSD.sro was done in minutes with a good profit. Afterwards the prices were in synchronized again.
So that is how they try to get you and convince you to send them money for "real trading". Of course the money will be then gone.
I am still chatting with this girl. I told her that SRO capital is a scam and that she should try to pull her money back. She just said that she never had a problem. I am wondering by when she will be fed up and stop.
Meiling Chen seems to be the same person as Caiyan Yang who's picture I found in this chat.
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