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Abstract：FVP Trade is a forex broker established in 2017. Being an unregulated forex broker that is operating without any valid licenses nor recognized regulatory status, FVP Trade is allegedly a Ponzi scheme in disguise.
Recently, it has been reported that FVP Trade's scheme has come to an official end. The amount of complaints received by WikiFX's customer support team regarding FVP Trade freezing clients' accounts has been overwhelming.
On July 18th, the management team of FVP Trade released the statement below:
In conjunction with this announcement is the frustration and fear of all FVP Trade's clients.
It is believed that FVP Trade is using the collapse of Luna as an excuse for its scheme. Although it tried to sound convincing, the reality is far from the truth because the timeline does not match. Here is why:
Above is a technical price chart of Luna with the important dates marked.
The main question is: why is FVP Trade blaming Luna after 2 months of its crash？
FVP Trade claims that Luna's crash is the main reason behind its much-needed “upgraded” which then put its clients' accounts at risk due to money laundering activities during this process.
Although FVP Trade explains that they have engaged with U.K. authorities, no official names or legal announcements have been made to this day. Its users have been left clueless with no further explanations or legal evidence to prove that their funds are still in good hands.
Moreover, FVP Trade did not provide a solid date for the restoration of its system despite the havoc it had caused. Unfortunately, it is highly probable that FVP Trade is closing this case with an official “goodbye”, but without a “see you later”.
To date, the total sum of losses suffered by FVP Trade's clients remains uncleared.
Through this incident, WikiFX would like to remind our users to always conduct thorough research before engaging with any forex broker.
Disclaimer:
The views in this article only represent the author's personal views, and do not constitute investment advice on this platform. This platform does not guarantee the accuracy, completeness and timeliness of the information in the article, and will not be liable for any loss caused by the use of or reliance on the information in the article.
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