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Beware of scammers impersonating OANDA TMS Brokers
Cyprus Securities and Exchange Commission (CySEC) informed about adding as many as 9 entities to the list of warnings. Among them is Primus Forex, which impersonates a well-known Polish brokerage house - OANDA TMS Brokers – using the website of the Polish company. In addition, the Italian regulator, CONSOB, blocked fraudsters' websites posing as E-Trade and Active Trades brokers. Details below.
Beware of the OANDA TMS Brokers clone
How do scammers work? Primus Forex, which operates the site primusforex.net, has practically copied the website 1:1 OANDA TMS Brokers, replacing only the logo, translating the text (quite clumsily) into English and Italian, and of course redirecting to the fraudsters' registration form. The goal is always the same - to extort data and funds from unwitting investors.
On the Primus Forex website, there are still elements left over from the cloned "TMS".
A total of 9 new entities have joined the CySEC alert list. In each case, the official reason was the same, i.e. conducting financial activities without having the appropriate license.
List of new entities:
- nylsinv.com
- primusforex.net (OANDA TMS Brokers clone)
- tfimarkets24.com
- afexeu.com
- protechfx.com
- forextimeltd.com • jfdtrade.net
- ltdexxovo.com
- ico-assets.com
The CySEC statement reads:
The Cyprus Securities and Exchange Commission ("CySEC") would like to inform investors that the following websites do not belong to an entity authorized to provide investment services and/or conduct investment activities pursuant to Art. Article 5 of Law 87 (I)/2017.
MyChargeBack.com is an American company specializing in the recovery of funds extorted by unreliable companies and "scams" pretending to be honest Forex brokers, binary options brokers and cryptocurrency projects. If you've been scammed, there's a good chance that MyChargeBack.com will be able to help you!
The Italian regulator warns against E-Trade and Active Trades clones
"Attack of the Clones" also took place on the Italian market, where fraudsters tried to impersonate legally operating entities - E-Trade Securities LLC (a company belonging to the Morgan Stanley capital group) and Active Trades (a British Forex/CFD broker). Both scammer sites were successfully blocked.
On the warning list CONSOB got:
- Binetrix (website https://binetrix.com);
- Bitbinx (https://bitbinx.com and https://trade.bitbinx.com);
- E-trade (https://www.e-trade.cc and page https://client.e-trade.cc);
- The Active Trades Ltd (https://theactivetrades.com);
- FX Modex (website https://fxmodex.com, https://client.fxmodex.com and https://webtrader.fxmodex.com).
