Abstract:This platform is a Ponzi Scheme, please stay away!
Last year I met a girl from Hong Kong on a dating site. After long-time conversations, she advised me to invest in gold and introduced a broker MagKing Forex. First I deposit $200 and made nearly $300 profits with her signals. However, things started to be different since my second deposit.
MagKing Forex is marked “illegal” on the WikiFX App
After getting my trust, the girl convinced me to make a deposit of $3,000 to earn more money. But after I applied for a withdrawal, my money wasnt withdrawn for a long time. I was told because of my change of withdrawal IP address, my account was temporarily under protection. I was told to make a deposit of $4,500 so that my account would automatically remove the protection system...of course I did it...BUT this turned out to be not enough.
Chat history with customer service
The girl contacted me and said the sum that exempted me from the system of funds protection was $10,500. The girl transferred $5,000 to my account and promised if I deposited another $5,000, the support service would remove the limit on my account as said, and in two days I could withdraw my money!
BUT IT TOOK TWO DAYS TO APPLIED FOR A WITHDRAWAL OF FUNDS, AFTER WHICH MY FUNDS DID NOT ARRIVE IN MY ACCOUNT. I wrote to the support service, and they said that I still had to make a deposit because the deposit the girl made seemed abnormal. I wrote to the girl, and she reacted negatively and said that I should return her money. It was then that I realized I had been deceived.
Account balance
Risk warning: On the WikiFX App, the comprehensive score of MagKing Forex is only 1.40 and the broker currently has no valid regulation. This platform is a Ponzi Scheme, please stay away!
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Amid the vast opportunities of online trading, lurk hidden risks such as Ponzi schemes, deceptive practices promising high returns but often leading to financial ruin; as traders in the forex and cryptocurrency trading industry, it's imperative to remain vigilant and equipped with knowledge to identify and avoid such schemes.
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