Warning: Be Wary of Scam Forex Broker Premium Fx Option Website

Brokersview recently found that Premium Fx Option, an unlicensed company, illegally assumes the identity of an authorized company, Speed Solutions Ltd, to defraud investors.

The clone entity operates under the domain name https://premiumfxopt.com/, the fake broker claims that Premium Fx Option is a trading name of Speed Solutions Ltd, a regulated company under the International Financial Services Commission (“IFSC”) with authorization number IFSC/60/391/TS/19. This is a typical move for a scam broker to gain the trust of unsuspecting clients.

We have contacted with Speed Solutions Ltd and they confirmed that the fake broker is not connected with them.

(Screenshot from Speed Solutions Ltd)

Scammers Charge A Great Withdrawal Fee

Brokersview learned that the fake broker deceives investor by introducing investment plans with high returns to newbies. The returns even reached 1000 percent after five days, which raises a red flag as far as investors are concerned.

However, this is just the beginning of the scam scheme. An investor said that the fake broker told him to deposit a one time “withdrawal fee” of $6800 due to the network charges applied on the transaction in order for his profits of $50,000 to be sent successfully into his designated bank account.

Moreover, the investor was told to complete his withdrawal within 72 hours, otherwise, his withdrawal request will be automatically cancelled and will be available again in 5 working days.

We are aware that scammers in foreign exchange market always carry out an investment scam by cloning the details of other regulated firms or imitating their brand, aiming to extract money from their customers through deception.

Brokersview advises investors to exercise extreme caution when come across these impostors online. If you are not sure, you can search on the official website of the regulatory agencies and compare the information of regulated company with the fake ones.