Fraud Alert: No Real Profits, a Trader Scammed by Kingdom Trade

Investment scams continue to emerge on Telegram, another trader submitted a similar complaint case with BrokersView against Kingdom Trade, a platform committing to provide traders with comprehensive insights into forex brokers.

The trader was first added to a Telegram group, he didn't think there was something wrong at first and wanted to see what the Telegram group was about. After seeing the scammers sharing trading profits in the group, he became interested in joining the investment and communicated with the group administrator to learn more about trading.

From the fake investment packages offered by Kingdom Trade, the Bronze package supports a minimum deposit of RM300, which is said to earn a profit of up to RM7,000, and the Silver package has a minimum deposit of RM500, which corresponds to a profit of RM15,000. The client chose to start investing from a deposit of RM1,000 for the Silver package, which according to the scammers could potentially bring in RM20,000 in profit. Based on the different packages, the platform charges a cut ranging from 20% to 5%.

What is very outrageous is that the Diamond package offered by the scammers shows a maximum profit of up to RM400,000!

A few hours later, the scammer informed the client that he made a profit on his trade, but that he would have to pay a fee to withdraw the profit, which the client did. However, when he made the next transaction, the scammer always asked him to pay. He then realized that he had been scammed.

BrokersView Reminds You 

Be sure to not believe in investment programs that promise easy and high returns! Always make sure that the platform you choose is genuine and trustworthy before making any trades.

If you have any questions about your chosen broker, ask us a Question and BrokersView will answer for free.