As investigative reviewers, we sometimes wonder why it takes little effort for fraudsters to make money. In the early days, at least they had to build sites such as Frxtraders from scratch and even have them polished to look professional before launching.
This is so unlike what we see these days when it seems as if all a fraudster needs to do is copy and paste poorly crafted content and they are in business.
The reason for this could have been explained by the SEC website where it stated that most people do not put in the necessary effort needed to research an investment offer before putting their money in it.
No wonder year after year, more people are losing money to scams than the previous year. According to Australian Competition and Consumer Commission, 118,451 reports have been filed in 2019. The losses incurred by the victims total more than $95 million.
With the quality of websites and the education and reviews on the internet, you would expect people to have learnt to identify these scams, but this is not the situation.
Investment scams are responsible for more than $45 million in the assets lost by people. This is why it is necessary that people learn to conduct some research before parting with their funds. They also should learn not to believe everything they read online.
What is Frxtraders?
On face value, you would assume that you are dealing with another forex site, but this is not the case. Te site claims that it is a real estate business that operates in 40 countries.
It claims that it manages investments worth more than $6 billion. This is a spurious claim because there is no reason why a company managing such volume of assets would be interested in having more investors making small deposits.
Moreover, $6 billion is no mean volume that such a company would be around the corner of obscurity. Of interest also is the fact that the site leave a lot to be desired making it obvious that all the claims made on it are false.
Poor Quality Web Copy
You would have expected that a company that claims that it is managing such huge volume of assets would own a standard website that is error free. But this is not the case here as seen with the many grammatical errors seen on this site.
Just read the introductory copy of the About Us page:
“Reliably productive, www.frxtraders.com can actualize vital ventures for the advantage of our investors. We pride ourselves on the long haul connections we work with favored designers, to whom we offer solid money related responsibility and abroad promoting help as an end-result of need access to the best worldwide property speculation open doors for our clients.
These openings are then put through a thorough procedure of due constancy before being chosen for introduction to financial specialists and wholesalers.”
You would agree with me that there is absolutely nothing professional with this copy. Neither does it indicate that the business behind this company is a serious one.
As in, why would you invest your assets with a company whose site could not present a single intelligible sentence and hope to make profit from them?
Everyone knows that people who actually own a business make sure that they build their concept without plagiarizing the work or content of others.
In fact, plagiarized content is one of the signs that you’re dealing with a scam. This is why every legitimate project would not minify the integrity of their work through such serious offence.
Frxtraders has plagiarized some sections of its site content such as this About Us page seen from a Google scan:
“…can actualize vital ventures for the advantage of our investors. We pride ourselves on the long haul connections we work with favored designers, to whom we offer solid money related responsibility and abroad promoting help as an end-result of need access to the best worldwide property speculation open doors for our clients. These openings are then put through a thorough procedure of due constancy before being chosen for introduction to financial specialists and wholesalers.”
Stolen Certificate of Registration
The Securities and Exchange Commission said that the reason scams thrive is that many investors do not care to educate themselves about investment offers they come across. Fraudsters are aware of this so they make claims that are mostly false because they know that few ever check their veracity.
The company registration number given on the website 11518123 supposedly belongs to belongs to Divo Bit Limited. This is actually a lie because a search shows that this belongs to T Maka Ltd. It got even more interesting because the certificate in the link is yet another company, Visual HYIP.
Why would any company have such identity crisis that they would steal the certificates of other company and present them as theirs? Why would you trust a company like that with your investments?
High Yield Investment Scam
What would make you believe that anyone would double your money? This is exactly what Frxtraders promises its investors. The basic plan is 120 percent in one day which in reality is impossible for any genuine investment company to offer.
There are even higher plans but all have the objective of luring people to make deposits which would lead to definite losses. Could you imagine the possibility of earning 1000 percent in a month? If such investment proposals are real, no one would be short of money.
Deceitful Deposits and Withdrawals
Scan sites use every conceivable strategy to deceive people. These include arbitrary listing of non-existent or doctored deposits and withdrawals.
These false statistics are meant to create the impression that there are people making profit from the site even though its intent is to entice people to start sending their funds to the fraudsters.
This is another reason why you must avoid sites like this at all cost. You can also notice that it claims to have been online for 781 days even though the domain was registered in August 2019.
Getting good investment sites is not a simple thing. In fact, such sites come by rarely. This is why many are deceived by scammers.
There is a site that could help you grow your assets through a social trading network. Even though all investments bear risks, you can reduce these risks when you invest with a regulated site instead of giving your funds to scammers. Here is our top recommendation.
What is your experience with scam sites? You may share them using the comment box below.