Starts from a Group Chat Again! HSB FOREX TRADE Swindles an Investor out of All Her Money

Recently, BrokersView has exposed many cases of investment scams in Malaysia. The scams use very similar tricks, spreading fake information in online group chats and luring victims to invest with the scam brokers. Now an investor reveals that she is unable to withdraw her funds from HSB FOREX TRADE, which is just another similar scam broker, according to her trading experiences.

Withdrawal is not as easy as making profits

According to the victim, she joined a Telegram group chat someday and saw "professionals" share investment tips, and group members post screenshots of their profits. It seemed that everyone was making money from their investments. At first, the victim did not intend to be one of them, but an outsider. However, as she sees more enticing information, her idea of making money slowly emerges.

So, the victim contacted one of the group administrators, and upon recommendation, she chose to invest in HSB FOREX TRADE and deposited RM1,000. Soon, her account was profitable up to RM15,000. At this point, the administrator said that she needed to pay a 30% deposit of RM4,500 for the contract and that she could withdraw her profit to her bank account once the deposit was paid.

The victim did not suspect fraud and quickly paid the scammer, but could not withdraw the money as the administrator claimed. When she tried to withdraw, the admin asked the victim for the fees of "account activation" and a "data confirmation" under the excuse of account security, totaling RM15,000. At the same time, she was also promised that the fees would be refunded to her bank account along with the profit after the security verification.

Unfortunately, the victim had already given all her savings to the scammer and could not afford the fees. But at this point, she also realized that she was scammed.

BrokersView reminds you

HSB FOREX TRADE is not regulated. Without any regulatory license, the company not only offers financial services to its clients but also guarantees profits to inexperienced traders. How dare! Even the leading financial companies in the industry cannot promise that their clients will definitely gain profits.

BrokersView repeatedly reminds investors: do not to trade with unregulated brokers.

While a regulatory license is not a 100% guarantee that a broker does not carry risks, brokers without proper licenses should not even be one of the choices. Though someone had a good trading experience on unregulated platforms, no one knows if this is a scammer waiting to catch a bigger fish. Once the scammers feel they have made enough money, they will run away quickly. Victims may wake up one day morning and suddenly find themselves with nothing left to lose.

If you want to know if a broker is regulated, you can ask BrokersView.