The US Regulators have now warned customers about the potential scams being committed by unregistered trading firms targeting people who lost their jobs due to the COVID-19 pandemic.
The CFTC issued a warning about scams that advertise unrealistic income from trading inside unregistered firms, this kind of as crypto in addition to binary options, and then charge high costs to access the supposed profits.
These frauds typically require unregistered brokers promoting binary option, forex programs, in addition to cryptocurrencies. The brokers generally use social media to focus on folks who have lost their jobs and are looking for a better income opportunity.
The advisory cautioned that it is usually an easy task to fake trading success on social media and detailed red flags to be able to help investors determine possible frauds.
Forex trading, binary trading or in fact any kind of trading can be very risky. Typically the fraudster’s goal is to get buyers paying the straight up deposit and later on pay ridiculously large commissions, taxes, plus fees.
The CFTC has said that it receives hundreds of complaints everyday regarding the possible scams being committed by these fraudsters on a daily basis. The fraudsters, to be honest, have got no humanity left within them as they are trying to squeeze every bit iof money that is left in the bank accounts of these innocent investors. It is highly suggested to stay safe from these fraudsters .
If you have lost money in any kind of such fraud, you can contact us at First Option Recovery. We have been dealing with scams like cryptocurrency scams and forex scams for over a decade now, and with the experience that we carry, we are bound to be the best in the business. Contact us now for a free consultation now.