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Snake Nest

Forex fraud (now is under development)

xCFD Fraud resume

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70 Views

It was a fraud from xCFD side because only they knew that I wanted to withdraw a large sum of money and had my contact information – phone but not Skype (I gave Skype contact details later on the phone) so everything was planned very accurately. The first call was from Denis Belov who introduced himself as a xCFD Finance Department Representative and asked for my Skype contact details. If he had introduced himself as someone else but not from xCFD Finance Department, I would have suspected some kind of fraud. Thus I would not have believed that I must fill out our last transaction with his numbers.

After I accomplished his command to sell the currency with Mr. Denis Belov’s numbers, I felt immediately that my deposit was not sufficient to maintain the margin and that my entire deposit was about to burn. Mr. Denis Belov contacted me again through Skype and “demanded” me to transfer additional amount of money to xCFD account or else my deposit would have been lost. I called it “demanded” because you need to call things after their own names.

When his attempt to pull out more money that would supplement xCFD account from me failed, my former professional investor Mr. Renat Prohorov (Ренат Прохоров, Артем Константинчук) contacted me immediately through Skype. He stated that he received call from xCFD and xCFD reported to him that I opened my position individually and thus lost the entire deposit…

Everything happened at the bailiff’s office.

In a few days I got a call again from the person who introduced himself from xCFD. He stated that the company takes care of its own brand and reputation and decided to return my deposit. He said that they transferred money already to me but it got stuck at the cross-border transaction operation and so he asked me to transfer additional 4000 Euros deposit to xCFD account.

Of course, I did not agree to transfer more money to xCFD account.

And I never got my money returned to my account because apparently they got lost not at the international transactions but in their wallets.

In my eyes, Mr. Renat Prohorov (Ренат Прохоров, Артем Константинчук) has no competence and knowledge because while assisting to me, he stated that xFCD was regulated by the financial institutions in New Zealand.

It is also entirely unclear in which part of the xCFD’s homepage he found CySEC license.

But it was not true at all as xCFD had not been regulated for a long period of time and did not have any CySEC license.

How to protect yourself from fraudsters.

If you are involved in a similar situation the only way is to call your bank and to stop the transfers but you only have a couple of days or even less.

If you see that a broker is registered in one country while the bank where you transfer your money to is located in one of the CIS (Commonwealth of Independent States) countries, do not trust such company and stop your transfers immediately.

It is highly advisable to make all records throughout the process. Allow Yourself to afford a good phone which records both sides in a good quality. Maybe you will need it for solving disputes.

When selecting a broker, it is better to choose the one that is regulated by the EU or US. You should take your time for selecting the broker and read all reviews of each broker carefully. If you find some negative comments about the broker, you should choose another one.

Do not let someone to make time or any other pressure on you while making your choice. If you are being hasted / pushed that means that they want you to make a mistake without checking everything carefully.

Only fraudsters or low-reputation investors are seeking for customers. Good investors invest successfully themselves.

 

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