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SCAM ALERT: HONGMAO

Discussion in 'Scam Alerts' started by Sandman74, Sep 11, 2019.

  1. Sandman74

    Sandman74 Recruit

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    Hi everyone, I'm new here and would like to warn you of an Asian based broker, Hongmao.
    Now, they seem to be operating in Hong Kong but all deposits are sent to Singapore.
    My experience with them started on a dating app (of all places). I met a girl online and she mentioned that she was into forex. Now, I was curious as I was just learning about forex after trading shares for many years. She said she would help me.
    I deposited a little money ($1000) into a new account using Hongmao's version of MT4. She would then tell me when and what to buy and sell. We traded sometimes twice a night making a consistent 10-14% per trade. She said her uncle (very experienced in FX) would give her info each night which she'd pass on to me.
    Before long, she'd ask me to deposit more and more so I could rake in the money faster. She showed me her $1m+ account and transactions.
    A pattern soon emerged. We would enter at certain times and exit approx 30mins later. 10%+ guaranteed. 100% success, always. I noticed that Hongmao's prices did not conform to "normal prices" as I was using MT5 on another computer (watching MT4 and 5 simultaneously). Hongmao's prices would go in the opposite direction and her advice would be to the minute (buy EURUSD NOW!)
    One week I was desperate to trade more but her uncle was "out of town on vacation "and wasn't giving advice". She then told me that his apprentice was willing to give us advice. She told me he could be trusted and if was wrong, would pay us back.
    Needless to say I lost my whole $10K and he wouldn't pay it back. She never contacted me after that.
    A second time, not long after, same story happened except the new girl was getting advice from friends in FX. She would tell me ahead of time exactly when to enter and she'd exit exactly 30mins after. Again 10%+, without fail. I'd had enough by now and knew for sure I was being scammed but the next trade she told me to buy XAUUSD. I sat and watched price go against her call (even though I had exited about 2mins into the trade). An exit call never came from her that night. If I'd stayed in the trade I would have been totally wiped out.
    To this day, 20190912_131307. Screenshot_20190731-223733_Samsung Internet. 20190912_131307. Screenshot_20190731-223733_Samsung Internet. I tried to withdraw my money ($2K) from Hongmao but cannot. I asked customer service why it was not possible and was told "it's being looked into..." "I've already sorted it for you" etc etc but still cannot withdraw. I just get ignored by Hongmao now when I ask about my money. They have no phone number or address and everything is done through their website. www.hongmaocomp.com
    I want my money back as I'm finding it tough living on welfare now (a long story).
    In conclusion, don't deal with a broker introduced to you by an unknown person, don't deal with a solely online broker, don't deposit more money if requested to and basically don't do what I did.
     
  2. FxMaster

    FxMaster Lt. Colonel

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    Website is not working on my end.
     
  3. FxMaster

    FxMaster Lt. Colonel

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  4. Casio32

    Casio32 Recruit

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    Hi Sandman, I'm one of the victim as well. Got to know this person called Chen Jing and communicate through LINE app. Taught me how to play forex. Initially she asked me to put 1000USD to try. We did a few transaction in 2 weeks and reap some profits. On one day, she went missing while leaving me at a open trade and I lost all my money in the account. I was initially wanted to quit as I can afford to lose that money however to my surprise, she compensate me in full and apologise to me probably she knew they can cheat me further. Very soon, she pressure me for weeks asking me to put top up 10k and I rejected. Soon this friendship turn sour and she actually started swearing in chat. I blocked her and wanted to withdrew the money to another local broker however, the broker blocked my account for a week and instantly withdrew the money in my account without informing me and my authorisation.

    I had reported to the police, DBS and UOB in Singapore for investigation as their deposit account is with Singapore. However, I believe that the chances of retrieving back is slim. For my case, is quite similar as yours however this broker actually block my account for 1 week and withdraw funds from my trading account without my authorisation and told me that the funds in my account doesn't belongs to me. The broker did not asked for any explanation from me and simply withdraw the money. Hence I suspect the scammer and the brokers are together in this scam because no broker or any financial institution in the world are allowed to withdraw funds from anyone's account without notification.
    If you are a victim in Singapore, suggest you to report to the police and inform the banks. As the broker are based overseas, there is nothing you can do but wait for the investigation to be over.

    霆聚投資有限公司 (Ting Ju Investment Co., Limited)
    http://www.tingcl.com/
    Beneficiary Account Name: ZEUS INTERNATIONAL LIMITED
     
  5. Sandman74

    Sandman74 Recruit

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    Thankyou for your reply.
    I'm sorry to hear that you also got scammed. There's no doubt that the scammers are working for the broker. They're probably guys, not girls.
    When I questioned "her" about the 50 pip spread she said it was because I didn't have enough money in my account. She also asked me if I could borrow more money from family and friends to which I always gave an excuse.
     
  6. Sandman74

    Sandman74 Recruit

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    Nothing has come of this as I don't get a reply from anyone .They've just kept my account locked so that I cannot withdraw.
     
  7. Sandman74

    Sandman74 Recruit

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    The website is www.hongmaocomp.com and seems to be working ok
     
  8. Sandman74

    Sandman74 Recruit

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    Ok my bad, it's now not working
     
  9. Sandman74

    Sandman74 Recruit

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    Do you have an email address for hongmao so I can invite them here? I never knew of a phone number and address...
    Thanks
     
  10. FxMaster

    FxMaster Lt. Colonel

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    Not working mate :(
     

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