Scam Broker PSI Markets Falsifies FCA Documents to Ask for 'Tax' from Investors

The victim, Ferreira came across the investment platform PSI Markets. After leaving her contact information, she promptly received a phone call from Santos, a staff of PSI Markets, who recommended investing with PSI Markets.

Ferreira was convinced by Santo and joined the investment with a €250 deposit, without realizing that was the beginning of a nightmare. In addition to the initial deposit, the broker also asked for personal information such as address and ID card.

Profits came easily, sooner than expected. According to the email, the broker said Ferreira's investment in NVIDIA's stock had surged 14.2%, predicted that the stock would see even greater gains, and persuaded the victim to win more profit through the 1:10 leverage.

Within less than a month, Ferreira invested €37,250 in PSI Markets, and gained €32,264.88 in profits, with a total balance of €69,514.88.

However, the withdrawal process is not as smooth as the ‘investment,’ as PSI Markets places obstacles.

According to the broker, Ferreira had to pay a tax amounting to €13,400, otherwise, she would not be allowed to withdraw the money.

PSI Markets even sent a document bearing the logo of the UK's Financial Conduct Authority (FCA) in an attempt to prove that the tax was required by a national authority.

Ferreira thought the "tax" was too expensive and asked for any possibility of a reduction but was refused. The victim had no choice but to transfer all the €9,000 she had to PSI Markets but did not see the money being credited.

Clearly, PSI Markets is a scam. If a broker asks you to "pay first, then withdraw," it must be a fraudulent company. Fees, commissions, or taxes, none of the excuses are real.

The FCA documents sent by PSI Markets are forged, as the FCA is a financial regulator and is not responsible for tax issues, let alone requiring retail investors to pay income tax. Most importantly, the FCA only regulates financial services and products offered to UK residents or by UK firms, and PSI Markets is not a licensed financial company in the country.

Currently, PSI Markets' domain name psi-markets.net is no longer accessible, making it difficult for victims to get in touch with the scammer. However, such financial fraudsters never leave or stop their fraudulent activities. Perhaps, the scammers behind PSI Markets have changed the brand name, created a new website, and found a new victim with the same tricks, without being noticed by any of us.