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Alert! Forbes Capital Trading is Still Scamming by Providing Investment Package

2023-03-16 Brokersview

Forbes Capital Trading (also known as Forbes Capital) is a typical fraudster that has defrauded many Malaysian investors with a so-called Investment Package scheme. Their scamming tricks are not sophisticated and, from some aspects, may not even be related to financial trading, but how do the scammer manage to make ill-gotten again and again?


Who is Forbes Capital Trading?

Forbes Capital Trading is a financial scammer that has been rampant in Malaysia recently. It claims to be a company that offers investment services and promises attractive profits to its clients. However, its activities are not legitimate.


As a financial platform, no legal documents such as terms and conditions, risk disclosure, or privacy policy could be found on its website, let alone registration or regulatory information. And people have no way of knowing the company’s location. In short, they have none of the information that a legitimate broker should provide to its clients.


Moreover, the Securities Commission of Malaysia (SC) added the fraudster to its InvestorAlert List. The broker that is highly similar to Forbes Capital Trading, Forbes Tech, was also warned.


Last month, a victim was defrauded by Forbes Tech using the same Investment Package scam and lost over RM3,000. 

Overall, Forbes Capital Trading has no financial license and therefore not been authorized to provide financial investment services! The investment businesses it currently operates are illegal.


Endless Fees

One of the victims told us how she was scammed by Forbes Capital Trading for RM2,582.


The victim did not remember how she got in touch with the scammer, only that she was invited into a Telegram group chat, where the staff of the fraudulent company was lurking in. She was offered an Investment Package, which she thought was a good idea, so the investor deposited RM400 and entrusted her account to a so-called "trader" for trading. After only a few hours, the trader told the victim that profits were coming in. However, the victim had to pay an additional fee of RM2,182 because the trader had over-traded her account. And she did not doubt it and transferred the fee to the broker.


But not long after, the company asked the victim for RM3,000 again, citing the international account transfer function, which was said to be the fee used to activate the account. However, the victim could not afford that much money and refused the transfer request. Even so, the scammer still kept pushing the victim to deposit more money.


In conclusion, to ensure the safety of your money, do not trust any investment services offered by Forbes Capital Trading.


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