Ad Fraud Again! Give Vantage FX Investment No Chance to Exploit You

Ad frauds are emerging in an endless stream, and BrokersView has previously exposed a number of such scams. The scammers usually start by phishing the potential victim by posting ads on Facebook, and then they contact the user via Whatsapp. The next steps in scams vary, but most of them trick users into buying their investment packages and keep asking them to pay various fees, while users can only watch the “huge amount” that they can't get out of scammers’ pockets.

On August 16th, a user filed a complaint with BrokersView against scam broker Vantage FX Investment. He left his phone number on an advertisement posted by the scammers, which was the beginning of his bad experience of being scammed.

The scammer contacted the user on Whatsapp through the phone number he left, explaining their trading package to him. From the detailed screenshot provided by the client, the scammer claimed very high weekly cryptocurrency gains and showed the client their "qualification certificates" to win his trust.

The client then agreed to start trading with a minimum deposit of RM300. According to the message from their so-called "European headquarters", the client's account has been registered, and since it was the first time he registered an account, he was required to pay a deposit of RM950 to activate the account, which the scammers say will be refunded to the client's bank account after 6 hours. The fraudulent platform claimed that its traders will start trading as soon as they receive the deposit.

After a few hours of "trading", the scammers informed the client that his trading account has received the profit, but that he needs to pay a broker fee in order to withdraw the money. The client paid the fee, but his withdrawal was still being processed and he realized that he has been scammed. The client was swindled out of a total amount of RM3,800.

BrokersView reminds you

Vantage FX Investment is yet another imposter platform of the compliant broker Vantage FX, and its website https://vantagefxinvestment.com/ is no longer operational. To protect your assets, do not deal with Vantage FX Investment.

BrokersView advises you to be vigilant when using social media platforms to refrain from clicking on dubious advertisements and links and from providing any personal information.

If you have any concerns about your potential broker, ask BrokersView a question and we will answer for free.