This year, a number of fraudulent schemes have appeared that are used by pseudo-brokers to divorce gullible traders for money.
The most commonplace, but also effective, can be considered a scheme with trading account insurance. The broker, taking a certain amount from the trader, returns him “candy wrappers” under the guise of insurance, which in the future will not bring any profit.
The main trend of this year is cryptocurrency fraud. Many pseudo-brokers convince customers to deposit funds in digital currency. At the same time, American dollars are used as the base currency of the account. Such a scheme is based on two facts: when calculating with cryptocurrency, it is impossible to calculate the recipient and, accordingly, to prove the fact of funds being credited. Therefore, fraudulent brokers can block a client’s trading account without giving reasons, even if there is money that was deposited through cryptocurrency transactions.
Another important point – the conversion of cryptocoins to dollars is usually carried out at the internal rate of the brokerage company, which, as a rule, differs from the market rate to the disadvantageous position for the trader.