The Russian self-regulatory body, the Centre for Regulation in OTC Financial Instruments and Technologies (CRFIN), has issued a statement outlining that a website posing as an investment scheme has been identified, promising unrealistic returns allegedly obtained from Forex trading.
According to the entity’s website (www.globaltrustinvestment.com), the Forex scheme promises returns exceeding 1% daily. The deposit options range from a minimum of $10 to more than $10,000. As the minimum investment grows, so does the term of the alleged interest rate. The website claims that the investment is related to the Forex markets.
Going Past the Great Wall: Things to Consider When Entering the Asian MarketGo to article >>
As any experienced trader would tell, such returns are highly improbable but the website promises guaranteed returns. Clients are offered bonuses for attracting new clients to the website. CRFIN reports that as of the 24th of July there have been 32 blacklisted companies, with 22 of the websites mentioned no longer operating.
In a recent blacklisting, the self-regulator has issued a warning against companies claiming high returns in Forex trading, the Forex MMCIS Group and Royal Smart Group. The full list of blacklisted companies is available on the website of the Russian Self-regulatory organisation.