New Forex Scam in the UK uncovered. I have documented as much as possible here and I have notified IC Markets and the FCA https://forexcrypt.com/new-uk-forex-scam-uncovered/ -I trade forex every weekday full time - its my job - I am well known in Forex circles and I have taken plenty of forex scams/scammers down. -Before christmas we had the Gurvin Singh scam pumped up by the Plymouth Herald and the SWNS agency in the UK - I had his 'promotional' videos taken down. -We see these gurus pumped up as paid for PR in local press which then ends up in the national press - the Gurvin Singh scam is now estimated at $4 million total loss for victims. It is big business. -99.999% of people in retail forex lose. The only people making money in forex are the brokers/market makers/publishers/advertisers/gurus etc. Some of them are pushing huge numbers - Hopefully this doesn't entice more to do it - in any case I and others will call you out if you do. -I believe afcafc to be Jack Harwood ProphetFX (Prophet Enterprise Ltd). -He will be getting large kickbacks per new sign up into IC Markets - you get $500-$1000 per new customer you introduce. You then get further commissions when the customer trades a round turn - this means the more the new customer trades the more money Jack Harwood makes on top of his $500-$1000 per new customer sign up. -Underneath ProphetFX (Jack Harwood) uses fake metatrader (mt4) terminal screenshots - all demo accounts to lure people in, they also use fake myfxbook setups - this is a totally abnormal chart. It will likely be a martingale or grid underneath - the myfxbook chart is totally wrong in any case. The tabs you really need to see are hidden. -Last year it was uncovered you could rent Metaquotes4 Metatrader MT4 broker space - so you could create any BS results you want via dodgy white labels that setup and pretend they are brokers - this is how the majority of these "educators" get away with these BS results reeling people in. Bottom line anything to do with Metaquotes4 Metatrader MT4 can be gamed. https://d.tube/#!/v/mt4-gets69d/QmdLEC5886rSzzWGdMxVUgMhwsGtkgmexjs9F7iFFHhf7K Metaquotes had this video removed from Youtube - it shows the scam that is MT4 accounts. -Note he is trying to sucker people in on telegram? All untraceable chats - nothing through official company emails. -Note his website is just a page without an SSL? http://prophetfx.com/ -ProphetFX (Jack Harwood) doesn't use a company name, he is operating on 'make money online forums' this same thread appears on https://www.themoneyshed.co.uk/inde...nt-ever-prophet-trading-automated-money.11068 - sucking people he knows are looking to make money. He is selling get rich quick dreams - of course its all BS. -He is even telling victims he is authorised and regulated by the UK FCA - this is all lies. ProphetFX (Jack Harwood) isn't. -Further, he is trying to cover this fact by quoting the broker, IC Markets is authorised & regulated by the UK FCA - IC Markets are not. In any event it is irrelevant what IC Markets are or not, it is ProphetFX (Jack Harwood) that needs to be authorised and regulated - he isn't and he knows it. I believe afcafc to be Jack Harwood (owner of Prophet Enterprise Ltd) and he has stated they are authorised and regulated which is a lie. -These people run a scammers playbook - they are masters at twisting people to believe they are multiple characters - in this case afcafc the, 'hapless guy who has stumbled on some amazing scheme'. - total BS. -In other forums - particularly forex & crypto forums, they pretend they are gurus - the shit I have read is unreal - yet people STILL fall for it. Every single time, even with all the red flags there. -You should see what I read and how people are absolutely blinkered in the face of facts - the allure of getting rich quick does something profoundly deep to human beings brains - it turns them into idiots - believing anything the 'guru' says. -Unfortunately Action Fraud (UK Police) & the Financial Conduct Authority (FCA) are woefully equipped to deal with this/recognise/get on top of it - I uncover one of these a week at the moment - those that encounter these people need to report them. Jack Harwood - Game over.
NO MERCY! Enforcement and Markets Oversight Division, Financial Conduct Authority, 25 The North Colonnade, Canary Wharf, London E14 5HS Email: approachtoenforcement@fca.org.uk consumer.queries@fca.org.uk firm.queries@fca.org.uk Law and Policy Team Enforcement and Market Oversight Division Financial Conduct Authority 25 The North Colonnade Canary Wharf London E14 5HS Telephone: 020 7066 0220 Email: cp16-10@fca.org.uk Regulatory Action Division Prudential Regulation Authority 20 Moorgate London EC2R 6DA Telephone: 020 7061 4444
Broker scams are increasing day by day, one must check the license before enrolling with such people but often to gain more benefits with some less amount of investment people hurry and then they report the scam. Thank you for sharing the uncovered scam.