FAKE eToro! Not Seeing the Account but Making a Profit, an Investor was Asked to Pay Withdrawl Fee

Recently, a Malaysian investor encountered such a situation, the victim thought an operator opened an account for her in eToro and made money, but never thought that the platform she ran into was fake!

The investor were told to pay withdrawal fees without seeing her accounts

The victim claims that she initially met someone online who claimed to be from eToro and was invited into a WhatsApp group chat. Seeing that other people in the group were making a lot of money from their investments, she was also tempted and eventually decided to join the “investment plan”. But the company only provides “package plan”. In this package, the user does not need to worry about anything except the deposit. After remittance, the company will not only open an account and trade on behalf of the client but also guarantee the profit. The customer saw that the website they sent was indeed the official website of eToro, and the platform was indeed authorized by the relevant regulators, so the broker did not become suspicious.

After some time, the other party said that the victim's account had earned money and could be withdrawn, but she had to pay a withdrawal fee first. She was confused by all this because the victim had not seen her trading account and the company never provided any details of the transaction, yet she was asked to transfer money again. Confused, she asked to cancel the transactions, but the scammer simply ignored her request and later claimed that the victim had very little money left in her account and urged her to make a margin call.

By this time, the victim had already confirmed that she had been scammed and refused the request. Furthermore, she discovered that she did not actually have an account with the real eToro! The platform on which the scammers opened the account for her was actually a fake eToro.

WikiFX reminds you

Recently WikiFX has been receiving an increasing number of complaints, and based on the descriptions of the victims, these scams are different from the usual Forex scams.

Previously, unregulated brokers would ask their clients to trade on their own, but recently these scams have been prepared directly for the victims with a “package”. The victims are apparently only required to deposit money and do nothing else to make a lot of money; in fact, such a “good thing” does not exist. The scammers only claim to have made huge profits for their clients, and then ask them for an expensive withdrawal fee. The scammer receives the money and then slips away.