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Forex Trend – collapse of another fraudulent pyramid

 

forextrend

Trading in currencies on the OTC Forex market can bring a stable income. But in Internet trading, in addition to the obvious exchange risks, there are risks of over-the-counter risks. The fact is that in Ukraine and other post-Soviet countries this market is not regulated at the state level. For bona fide brokers, this does not change anything at all. But this article is not about them, but about crooks who deceive trusting and inexperienced investors. Concretely, we’ll talk about the recently “sucked” company Forex Trend.

In fact, suspicions that FxTrend does not trade on the market so much as it collects money have been raised by investors for a long time. This was facilitated by the lack of publications on current trade results at independent sites. And many sources on independent forums in the past (2013) called this office a hippe (HYIP) and foretold the project close end. Investor feedback was worse – this is understandable, no one will deliberately sink a project with their own funds.

Nice logo, right? Nebrow-looking, not screaming, trustworthy. The designers did a good job. But this office doesn’t correspond to this logo at all.

Primordial data and unfounded assumptions about the World Wide Web are abundant. They’re not enough to make fx-trend.com a fraud, but they don’t get rid of any doubts either. Here’s what one investor said about his attempt to invest in fx-trend.

One particular example

In February 2013, an account was opened and a trial deposit of $500 was made. The whole amount was distributed among five managing traders: AlexZhuk, Avas, Sven, TP, Veronika. The picture of trading reports published on the website was impressive and the deposit (according to the reports) grew well. Who will be withdrawing money from such an office, on the contrary, should add.

In the summer months of 2014, yields fell, but that was not the biggest problem. Complaints of delayed payments began to be received in July, but ceased in August. As the investor says, he never managed to withdraw the money.

What do we know about the Forex trend

In August 2014, the whole truth about this company became known. The Ukrainian mass media reported that the Forex Company is (was) a financial pyramid and did not engage in any real trade. Just siphoning off the money. It would seem clear and understandable, but let’s take a closer look. Maybe it’ll help someone in the future to avoid this kind of trouble.

The version of the company’s existence for 5 years is easily refuted. In 2009, only the domain name was registered. First, why hasn’t anyone ever heard of ForexTrend in Kiev and other CIS capitals? And secondly, there is a more objective indicator – data on attendance and traffic on Alexa.

service

In the chart we can see that the attraction of investors began only in the 11th year.

Legal side. Despite the declaration that the company is located in Ukraine, the registration itself is made in New Zealand, and the company is the property of SkolapinoFinance, registered in turn in another offshore location in Cyprus. The similarities in the feedback and assessments of these two brokers suggest that they share the same management and divorce schemes.

Investment and trading conditions. For Forex traders, the trend was not intended, although their involvement was declared. Well, who of the less experienced traders will go to trade on bonded and deliberately unacceptable conditions, when more attractive offers in the network are enough? What is the only commission for transactions – long forgotten anachronism.

The main bet was made on attracting investors. The function of “taking away money from the population” was performed by fake managers with no less fake PAMM-accounts and drawn graphs of profitability.

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was widely used

MMGP forum – black PR in action!

MMMGP

One of the resources used to promote the pyramid was the investment forum mmgp. Suspicious loyalty of this “independent” forum to the outsider of the Forex Trend market is explained very simply. In reality, the resource belongs to ForexTrend and Scolapino and is used by them for hidden advertising. This was based on a method of discrediting and unjustified harsh criticism of honest, popular and trustworthy companies.

Forex forex-mmcis.com and alpari.gzna mmgp leaders, for example, were discredited and declared risky by any means. There were no good reasons for that – they just didn’t exist. And what else could fxtrend do when there are no arguments in its favor, and you want to make a lot of money? Fair competition in this situation is impossible. That’s why we used the “soulful” methods to attract investors – if we have nothing to boast of, we will “fester” others, deceive them and influence their emotions. Everything was going on:

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Traders that do not exist

The articles published in the media mention not only the names of the founders (managers) of the company, but also some of the managers of PAMM-accounts. This is Pavel Svantsev and Veronica Tarasova. Even in the period of false heyday, when its essence was still hidden, they drew attention to itself a rare incompetence in elementary matters. This was manifested in various interviews, where they repeated the learned provisions and phrases, but could not give a clear answer to any specific and accurately posed question. And how to answer that, when there was no real trading, but there was a complete “divorce” of trusting investors.

Now, when the forex trend is studied from all sides, interesting details appear. Only one of them. Veronika Tarasova, who has shown impressive results of her trading on drawn charts, has never traded on speculative markets before. No, she traded, but not in currencies, selling massage therapists. And suddenly, after opening the deposit in, she had an epiphany and woke up the trader’s talent. That’s funny. Who would believe that earning a few thousand dollars in the foreign exchange market, a person would also be engaged in salesmanship, bringing in a penny?

It’s worth noting that it worked.

ForexTrend Legacy

This is such an interesting fact that a couple of projects in which Pavel Krymova took part as well as disappeared from the investment market by deceiving their investors. These are the infamous and promising VladimirFX and Gamma.
If someone thinks the story ends there, it’s a mistake. There is such a company as Pantheon Finance – it is being told the same future as fx-trend, which has already disappeared. And there’s a reason for that:

If the first two items of this list are the obvious carelessness of the project’s management (they did not expect to close Fx-Trend so quickly), the latter are a clear sign and a natural result of the existence of any financial pyramid.