HomeAsian News by Media-OutreachKeep your finances safe: new scamming schemes in trading

Keep your finances safe: new scamming schemes in trading

KUALA LUMPUR, MALAYSIA – Media OutReach – 17 August 2021 – OctaFX international broker has recently discovered an advanced strategy of traders’ deception. New fraudulent schemes have turned up in the Malaysian Forex community.

Scammers have undertaken a scheme where they are falsely representing not only brokers and third-party organisations but well-known official organisations related to the government as well. OctaFX warns the general public and recommends contacting brokers directly via official web resources if any suspicions arise.

Earlier, the broker had developed a security checklist aimed to help their clients identify possible fraudulent websites and activities and make trading safer. The following recommendations are broker-specific but apply to everyday online activities as well.

  • Keep your personal information secure and never share it with anybody. If anyone writes to you asking for your account details, that is most likely a scam attempt. All your data is secure within your account.
  • All your payments must be processed through your Personal Area on the broker’s official website or in their official Apps. This is most likely a scam if someone asks to send payments through other means or channels, like messenger apps or personal transfers. Don’t hesitate to report such a person to authorities or the broker’s  Customer Support.
  • To identify the authenticity of OctaFX local pages, use their domain-checker extensions (e.g. for Google Chrome for OctaFX). If the domain name is different, this is a fraudulent website, or someone uses intellectual property illegally.
  • When you see the broker’s logo online, double-check the domain name. Always assume that fraudsters will be using some version of the brand name to try and trick you.
  • Be careful when on social media. Broker’s official social media accounts are usually listed on their official website. Unfortunately, multiple copycats appear daily, so it’s important to stay vigilant, especially when engaging with Telegram and Facebook groups.
  • Stay vigilant when engaging with Telegram and Facebook groups that claim to represent your broker.
  • Cross-check the news published on the web about special offers and partner activities with official news on the broker’s website and official social networks. If it’s not mentioned there, most likely, you are about to be scammed.

Source: OctaFX

About OctaFX

OctaFX is a global broker that provides online trading services worldwide since 2011. It offers a state-of-the-art trading experience to over 7 million trading accounts globally. OctaFX has won 44 awards since its foundation, including the ‘Best ECN Broker 2020’ award from World Finance and more recently the 2021 ‘Best Forex Broker Asia’ award and the 2020 ‘Most Transparent Broker’ award from Global Banking & Finance Review and Forex Awards, respectively. The company is well-known for its social and charity activities. It is also committed to educating its clients about trading and investing in accessible and appealing ways.

#OctaFX

No comments

Sorry, the comment form is closed at this time.