Forex Broker Restricts Withdraw: Client Warns 'Do not use Artosnomics'

Benny Hermans, a European investor, raised concerns about the fraudulent trading platform Artosnomics. He reported that he could not withdraw his funds, but he was asked to pay an additional 250,000 euros to access his money.

The investor stated that he had deposited $43,055 into Artosnomics and earned a profit of $48,577, bringing his account balance to $91,633. However, when he attempted to withdraw the funds, the platform provided numerous excuses and demanded that he pay various additional fees

Artosnomics persistently demanded fees from Benny, citing 'blockchain' and 'whitelisting' as excuses.

Benny alleged that the broker had presented fake documents to falsely claim that Citibank required him to pay transaction fees and that both the bank and HM Revenue & Customs (HMRC) asked for taxes. Furthermore, Benny stated that he paid Artosnomics twice under the pretense of charges related to 'cybercrime.'

The victim said he gave €250,000 to Artosnomics but could not withdraw.

Benny had contacted Patrick Frey, the trading manager at Artosnomics, but he didn't know if 'Patrick Frey' was his real name because he suspected that the manager had sent him a fake ID.

Dangerous broker with multiple regulatory warnings

In November last year, Belgium's Financial Services and Markets Authority (FSMA) identified Artosnomics as a fake investment platform, put it on its warning list and advised investors to stay away from it.

In February this year, the UK Financial Conduct Authority (FCA) also highlighted to the public that Artosnomics is an unregulated financial company without the relevant authorization in the UK.

_{Regulatory warnings against Artosnomics}

In just a few months, Artosnomics has been warned twice in a row by the financial regulators of European countries, which is enough to prove its inability to provide adequate protection for local investors' funds. Combined with what happened to investor Benny, it seems that the broker is engaged in fraudulent investment activities.