The Belgian Financial Services and Markets Authority (FSMA) has continued to receive complaints from consumers concerning new fraudulent trading platforms that are operating in the Belgian market.

Various new trading platforms have appeared on the Internet in recent weeks.

The FSMA strongly advises against responding to any offers of financial services made by the following trading platforms:

• 7solutions (https://7solutions.uk/);
• AES (www.aestotal.com);
• Appex Finance (https://appexfinance.com/; https://appex-finance.com/);
• ARP Trade (http://arptrade.com/);
• Audemars Group (https://audemarsgroup.com/);
• Bitbinx (http://bitbinx.net/);
• Bitgetinvest (https://www.bitsgetinvest.com/);
• Cap Traders (https://cap-traders.com);
• Capital B Market (https://capitalbmarket.com/);
• Coinex.la (cloned firm ; https://coinex.la/);
• CorsairControl (https://corsaircontrol.pro/);
• Cryptomerge (https://cryptomerge.com/);
• Dax-Financial (https://www.dax-financial.com/, https://dax-financial.de/);
• DBG Investment (cloned firm; https://www.dbginvestment.org/);
• Direct Stock (https://direct-stock.com/);
• ECTraders / ECdgTraders (https://www.ectraders.com/);
• Elbitrader (https://www.elbitrader.com/; https://elbi-trader.com/)
• Emarket-24 (https://emarket-24.com/);
• EMG Prime (https://emgprime.com/);
• E-Secure.io (https://e-secure.io/; https://e-secure.app/);
• ETHprofits (http://ethprofits.com/);
• Extonglobal (https://www.extonglobal.com/);
• Financewise (www.financewise.cc);
• FortunaInvest (cloned firm ; https://fortuna-invest.com/);
• FuturBTC (https://www.futurbtc.com/);
• FXP360 (http://www.fxp360.com/);
• Gastrade (https://gastrade.co/; https://gastrade.company/);
• Gateway Capital CG/Capital Gateway CG (https://gatewaycapitalcg.com/; https://capital-gatewaycg.com/);
• Global ICM (cloned firm; http://icm-global.com/; global-icm.com; glbl-icm.com);
• Global Mining Hub (https://www.globalmininghub.com);
• Invox Trade (https://invox.trade);
• KTXENR (https://web.ktxenr.com/; https://web.ktxenr.net/);
• LPL Financing (cloned firm)
• MetaSwissX (https://www.metaswissx.net/);
• NFG Finance (https://www.nfgfinance.com/);
• Obcai (https://obcai.cc/; http://www.obcai.com/);
• Omers Finance (cloned firm, https://omersfinance.ltd/);
• Quaero Capital (https://quaerocapital.pro/);
• Quantia (https://quantia.cc/)
• Safity (http://safity.pro/; https://www.privat.bet/index.html);
• SSC Investment (www.sscinvestment.com);
• Tangent Capital (https://tangent-capital.pro/);
• Terallix (www.Terallix.com);
• Terrarobo (https://www.terrarobo.pro/);
• Tools4deals (https://tools4deals.com/; http://tools-4deals.com/);
• Topeu (https://topeu.net/, www.topeu.com);
• Traderup (https://www.traderup.com/);
• Tradespeck (www.tradespeck.com);
• Truemarket Trading (https://truemarket-trading.com/);
• Trustbit (https://www.trustbit.trade/);
• Trustly (cloned firm; http://www.trustly.io/; https://trustly.pro/);
• Wise-Markets (https://wise-markets.com/);
• Wisevests (https://wisevests.com/fr/home-fr/).

These trading platforms try to arouse consumers’ curiosity by placing scam ads on social media or online video platforms. In these fake ads, a (well-known) person often explains how to get rich quick.

Such trading platforms also sometimes use mobile applications to lure victims. These fake ads or mobile applications often offer a virtual currency, trading software or a training course. After clicking on the ad or downloading the mobile app and having given their contact details, the victims are usually swiftly called by fraudsters presenting a specific investment proposal (in shares, alternative investment products, virtual currencies, etc.).

Other trading platforms contact consumers through dating apps and fake social media accounts. Furthermore, many trading platforms use WhatsApp and Telegram.

The FSMA notes that several fraudulent trading platforms offer a so-called ‘affiliate programme’ to consumers. These programmes exhibit signs of a pyramid scheme.

These platforms act very aggressively. They often claim to hold an authorization by a fake financial authority, displaying it so as to seem trustworthy. Scammers even try to persuade the victims to allow them to take control of their computer remotely in order to make certain money transfers. The fraudsters also try to convince the victims to invest increasingly higher amounts of money. They also make promises of repayment in exchange for one last money transfer. This is a technique to collect even more money from their victims.

Victims who agree to do so complain in particular about:

• finding themselves unable to recover their money, or
• simply not hearing any more from the platform with which they have invested their money.

These are most likely cases of investment fraud. Fraudsters not only act without the necessary authorizations, but they also divert the investors’ funds. In such cases, investors are unable to recover their money because these illegal service providers are generally located abroad.