Abstract:Visual Prime Ltd is said to be an online forex broker, not established for too long, with its registration address and company behind it not disclosed to all.
Unavailable Official Website
Since the official website of Visual Prime Ltd is now inaccessible, the only way we were able to piece together a general picture of Visual Prime Ltd as a forex broker was by gathering relevant information from other websites.
General Information
Visual Prime Ltd is said to be an online forex broker, not established for too long, with its registration address and company behind it not disclosed to all.
How does scam Work?
The fraud is simple to pull off. Online adverts entice consumers by making promises that are both unrealistic and, as a result, out of reach. There is a redirect to the investment schemer website, and from there on out there is a lot of manipulation.
First, users will be requested to enter their contact information so that the broker can contact them directly and ask for payment. Instead of doing so directly, scripts abound that employ psychological techniques and tactics to entice investors to put money into the scheme.
Everything from the absurd to the magnificent can be found here. Keeping the user in the scam and making a deposit at least once is the main goal!
Each user, after a while, will begin to feel the strain and desire to disengage. Fraudulent brokers will utilize this as their final line of defense to cut customers off from their money by shutting down their accounts, stalling them for hours, or closing the website. The scammer will do everything he can to prevent you from cashing out!
Founded in 2014, Olymp Trade has been operating for over a decade, expanding its services and user base considerably, now offering focused trading in fixed-time trades (previously known as binary options in some regions) and Forex. Specifically, Olymp Trade operates two trading modes: fixed-time trades and forex mode. Fixed-time trades refer to trades with predetermined expiration times, where traders predict market movement directions. Payouts typically range from 70-90% of the investment amount. Forex Mode is a more traditional forex trading approach with variable leverage (up to 1:500 for experienced traders). At the same time, it allows for more sophisticated trading strategies with customisable take-profit and stop-loss orders.
Novatech FX Ltd. (“Novatech”), founded in 2019, was registered in St. Vincent and the Grenadines, a jurisdiction known for its minimal regulations and booming unlicensed brokers. NovaTech, which said it was a leading forex and crypto trading platform, claimed to have its own trading software with deep liquidity. Mostly active from 2020 to 2023, they attracted investors by promising monthly returns of 3% to 5%. Accusing them of a $600 million investment fraud, the SEC filed charges on August 12, 2024, against NovaTech FX, Cynthia and Eddy Petion, and several promoters.
Maxxi Markets is a forex broker founded in Comoros that offers traders access to a diverse range of financial instruments. With product offerings spanning commodities, forex, indices, metals, cryptocurrencies, and bonds, the broker caters to a wide spectrum of trading interests. Backed by the Mwali International Services Authority (MISA) under an offshore Retail Forex License (license number T2023425), Maxxi Markets combines innovative technology with varied account options to serve both novice and experienced traders.
A Malaysian teacher recently became the victim of an elaborate investment scam, losing more than RM200,000 after being lured into a fraudulent Bitcoin scheme through WhatsApp.