Welcome to this review on RafflesMarket scam.
We will highlight the red flags in this broker to enable you make an informed decision as you plan to invest in this industry.
It disguises itself as a legitimate firm whereas it is not. Offshore unregulated brokers are untrustworthy. They always turn out to be scams. Do not be cheated.
Be wary of such scams which are increasingly invading the market like this broker.
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Who is RafflesMarket?
RafflesMarket is an offshore unregulated broker.
Being an unregulated Investment Company they are not reliable and often abuse trading regulations. Make sure to stay away from this Investment Company as they are anonymous and that they can disappear any time without notice.
How does this Scam work?
Scammers present many fraudulent ads on the Internet and social media. Their aim is to lure as many people as possible to steal from.
Once you click and provide them with your e-mail and contact number they will ring you immediately and would promise you anything to make you deposit money with them as quickly as possible. Most of the scammers are experienced manipulators and before you know it they’d ask for your bank card numbers to assist you with the deposit. You shouldn’t ever provide this information unless you want to get in trouble. There is also a chance to become a victim of Identity Theft, experiencing many more problems consequently.
Gradually they would ask for more money from you no matter the results. If you lost on the market, they’d persuade you to put more money and recover the losses. If you traded well, they’d convince you to put more money and increase the profits.
The troubles start when you ask for a withdrawal. The scammers would do anything to discourage you and even ask you to pay them if you want to withdraw. The scammers’ mantra is “give me your money”, they’d insist every day you should deposit again and again, for no obvious reason. Legit companies do not bother you over the phone to deposit with them, so if someone pushes you to invest, it’s most probably a scam.
Are Funds Safe with RafflesMarket?
This broker being unregulated raises a lot of questions about a client’s money being safe with them. It is not trustworthy at all to deal with unregulated brokers since they are likely to abuse the trading regulations.
In addition to the above, this broker is a clone. It is disguising as a legitimate company that it is not to swindle money from unsuspecting investors. It is riding on the positive reputation of a legitimate trading company in the UK so as to steal from customers.
Security of funds is a huge problem with unregulated Investment Companies. They can easily do silly things because they are sure they are not answerable to any watchdog which may go after them.
This is withholding vital information about who is running this company. The Company moreover could go bankrupt from one day to another as there is no banking information about the investment company.
Keep off this fake trading company lest you get defrauded.
Have you been scammed by this broker? CLICK HERE to recover your money.