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    How I Was Scammed by Broker Spring, TWICE!

    Abstract:Recently, WikiFX received a complaint from a Japanese investor against the illegal broker Spring.

      Nowadays, there has been an increasing number of illegal forex brokers with tricky traps. Recently, WikiFX received a complaint from a Japanese investor against the illegal broker Spring.

    1.png

      Springs rating on the WikiFX App

      Investors Monologue

      Just like anybody else, I met a “girl” on Tinder last summer. She said that she wanted to make friends with me. Later, she told me what she was doing in her free time - Forex trading. She asked me to install Meta Trader 4 and try the demo account of MyanmarFinancial. I did so for one month. Later, she persuaded me to open a real account to start trading.

    2.png

      Investors demo account

      After one month of trading, I wanted to withdraw my profit. But she asked me to trade once more, and it was a total loss. I LOST 30,000 US dollars. A few weeks after that, the broker changed its name to SunlaidealFE Markets. I asked her what happened. She said that the broker was upgrading. Stupidly I believed that!

    3.png

      Investors partial trading history

      I didn't realize it was a scam until that Christmas campaign. On the first day of December 2020, a WhatsApp message came in. It said that there was a Christmas campaign held by Sunlaideal FE Markets. Whoever deposited some amount of money and waited for a month would get a bonus.

    gaitubao_4_jpg.jpg

      Sunlaideal FE Markets - Christmas Campaign

      My “friend” said she wanted to help me get a bonus to recover my loss. She made a $40,000 deposit for me, and I made $10,000. So in total I had $50,000 in my trading account. I was supposed to have a $50,000 bonus at the end of the month, but my account was BLOCKED when I wanted to withdraw them. Soon, the broker changed its name again to Springand changed its domain to Meta Trader 5.

    gaitubao_5_jpg.jpg

      Investors account was blocked

      Summary

      As per investigation, the broker Spring was registered in China and has been in business for less than a year. Currently unregulated, the broker is rated at 1.01 on the WikiFX App and is substantially risky. Please stay away!

      Investors may visit the WikiFX App or the official website https://bit.ly/wikifxIN to check more exposures of illegal brokers, and you may also report illegal brokers by contacting us at wikifx@wikifx.com. Together, we can improve the forex environment by nipping illegal brokers in the bud.

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    United States Dollar

    • United Arab Emirates Dirham
    • Australia Dollar
    • Canadian Dollar
    • Swiss Franc
    • Chinese Yuan
    • Danish Krone
    • Euro
    • British Pound
    • Hong Kong Dollar
    • Hungarian Forint
    • Japanese Yen
    • South Korean Won
    • Mexican Peso
    • Malaysian Ringgit
    • Norwegian Krone
    • New Zealand Dollar
    • Polish Zloty
    • Russian Ruble
    • Saudi Arabian Riyal
    • Swedish Krona
    • Singapore Dollar
    • Thai Baht
    • Turkish Lira
    • United States Dollar
    • South African Rand
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