​Investment via WhatsApp: All Invested Funds End Up with Nothing!

As a curtain-raiser for a scam, the display of a trader's extravagant life on social networks aims to gradually convince viewers of being wealthy through forex trading.

Delude targeted people

This trader intended to induce a lot of investors to invest by posting his successful experience of forex trading via social networks. He introduced to his followers the skills of trading and earning millions of dollars, recommended a certain forex platform to them, and affirmed that this was regulated by the Financial Conduct Authority (FCA) so that available withdrawals could be guaranteed.

Losses in trading

After making deposits, investors were told by the platform that their transactions had seen losses and were not allowed to withdraw the rest of their funds because of varying excuses made up by the platform. At the same time, the aforementioned trader who posted his lavish lifestyle on WhatsApp disappeared! Obviously, this was a scam carried out via social networks!

Team behind the scam

The fraud was not manipulated by an individual but a team of ‘affiliate marketers’ called GS3 Trades (GS3). They scammed victims out of hundreds of thousands of pounds.

Reminder made by WikiFX

This kind of story can be heard here and there as photos relating to the luxurious lifestyle and profitable forex trading often pop up when we surf the Internet, which is a lure commonly used by scammers! Please search qualifications and reputation of forex platforms via WikiFX, a simple but sufficient step to keep your funds safer! (bit.ly/wikifxIN)