Another Malaysian Investor Duped by Malaysia Islamic Trading's Lies

Social media platforms such as Telegram and Facebook have no shortage of financial scammers. After exposing the fake broker Malaysia Islamic Trading for scamming users using fake ads on Facebook a few days ago, BrokersView received a similar complaint from another investor.

The Malaysian Investor's journey of being deceived commenced upon seeing an enticing advertisement on Facebook, which brought her directly to an admin cloaked in deceit. She was immediately added to a group by the cunning “admin”, which is allegedly full of fellow traders, but they are believed to be also scammers.

Within the illusory community, the allure of profit-sharing appears before the user's eyes which sparked her desire for financial growth. She was then induced by the fraudster to deposit RM400.

Subsequently, her account did show a profit of RM23,800. However, an unforeseen withdrawal obstacle emerged, she was told that in order to withdraw the money, she would need to pay a brokerage fee.

The user paid the amount, but the fraudster found another excuse to ask for money by claiming that she needed to pay an overseas account activation fee of RM3,500, which would be refunded to her after the activation.

However, at this point, the user sensed that this was likely a scam and stopped dealing with the broker. According to the transfer screenshots provided by the victim, she was defrauded of a total of RM2,780.

We are glad that this investor ultimately made such a choice not to be scammed out of more money and managed to diverge from the fraudulent web spun by the scammers.

In common pig-butchering scams, similar fraudulent means are adopted, fraudsters take advantage of investors' panic and set up rounds and rounds of lie traps to swindle them out of their funds, with few people being able to find out their conspiracy and get rid of it as soon as possible.

BrokersView reminds you

An investigation by BrokersView has confirmed that Malaysia Islamic Trading is an unregulated broker, it defrauds Malaysian investors by spinning all sorts of lies.

The broker's website presents a simple page with neither "about us" nor compliance information, and no information about its so-called investment program could be found on the website, either. It simply boasts of offering low spreads, high deposite bonus, fast deposits and withdrawals.

To safeguard your assets, do not deal with Malaysia Islamic Trading.

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