Swindlers defrauded 36.50 lakh on the name of Citifx

WikiFX | 2023-05-24 20:24

Abstract：A 34-Year-old Resident of Ahmedabad, India complained of four persons who defrauded him of Rs. 36.50 lakh by false promise of lucrative returns on investments.

A 34-Year-old Resident of Ahmedabad, India complained of four persons who defrauded him of Rs. 36.50 lakh by false promise of lucrative returns on investments. Victim stated that he received a call on January 17 from an unknown number who persuaded him to invest in a broker called CITIFX. He told that the other person on call was promising him a substantial return online trading.

Victim said in his complaint that he refused to accept his offer but again on February 15, another person named Suresh Kumar contacted him and share all the details about Citifx and its location is in Saket, New Delhi.

Victim got Convinced and shared his pan card and other documents with him. He also sent money to the swindler as per their instruction and lost total of Rs. 36.50 Lakh . Now They have eliminated all means of contact.

Review about Citifx

Citifx is an online forex Broker. It offers Forex, indices, commodities, and shares. It provides two types of accounts to Customers. Citi Fx claims that it is authorized by the Financial Conduct Authority to provide payment services (FCA No. 488396), (Registered in England & Wales No.08922461). But when we checked this broker on the FCA register we got nothing. We tried with the given reference no. and this is what we got. On this reference no. another firm is registered not citifx.

Other than this we need to highlight that Citifx does not reveal its phone no. on the website. We checked this broker on Wikifx and it suggested that Citifx is a clone firms. Also Citifx has the lowest score with 1.05 out of 10. We read recent reviews of people about this Broker and this is what we got. These are Red flags. If you ignore them. It can be harmful for you. Therefore it's better to stay away from this broker and choose a legitimate- Authorised broker to avoid any kind of scam.

To expand your knowledge and stay informed about the forex market. Download Wikifx app on your phones. Here is the Link to the download: https://www.wikifx.com/en/download.html