2019 has seen no shortage of fraud and scams targeting investors. This includes an attempt to copy TIOmarkets, which is duping investors into accepting deposits as would-be clients.
TIOmarkets is the FX trading brand of the Lausanne-based blockchain company Trade.io, having launched with the full capacity earlier this year.
The broker managed to secure sizable signups and interest prior to its launch and has now been faced with its first test of adversity.
The scam company known as trade-it has replicated the TIOmarkets website and is accepting deposits from potential clients using fake advertisements.
TIOmarkets’ warning to the public
For its part, the TIOmarkets management team is strongly advising clients to take extreme precaution when depositing money with any firm attempting to market itself as TIOmarkets.
This includes websites or entities utilizing the official TIOmarkets branding. The company also reiterated the only safe URLs and domains from which to do business through the TIOmarkets company is www.tiomarkets.com or www.tiomarkets.uk.
Furthermore, the URL to its secure area through which funds can be safely deposited and withdrawn can be accessed via https://clients.tiomarkets.com.
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Unfortunately, the scammer attempt is quite sophisticated and deceptive. An in-depth look suggests the fake website is very close in appearance to the actual TIOmarkets site.
A few discrepancies are known; however, as the trade-it branding on the top left of the corner of the scam website is different from TIOmarkets’ actual branding.
In addition, the risk warning at the bottom of the page reads as follows:
As TradeIt Pty Ltd we guarantee that every Investor who invest with us will get their returns as promised, because we are the most trusted and reliable investment platform. TradeIt is here to help everyone make money.
TIOmarkets does not guarantee a return on investment. Rather, it utilizes the following disclaimer:
CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money. Never deposit more than you are prepared to lose. See our risk warning policy and seek independent professional advice if you do not fully understand.
Any users are advised to avoid the scam website entirely, including the use of deposits. TIOmarkets has opened a support line at email@example.com with further information on the potential risk and scam.