Further, this firm was established most recently in 2019 by the group of experts who are having long years of experience in the financial domain. Trade99’s goal is to offer one-of-a-kind and exceptional trading experience to its customers. The platform offers various features and a great trading platform to go with it.

Warning Signs To Spot the H5.trade99.top Scam

More popular amongst offshore brokers, PAMMs allow traders to allocate a certain amount of cash to investment managers. Members of the Financial Commission include forex, contract-for-difference (CFD) brokers, as well as companies operating in the cryptocurrency space. As Finance Magnates reported, earlier this year in March, the agency approved DealFX, an online brokerage, as an A-category member. Yes, It does charge for its various trading services, withdrawal, trade99 review and deposit.

Scams

• Increasing public exposure and warnings make it harder for the criminals to find new victims.
• Providing documentation can help reverse unauthorized charges and prevent further misuse of your accounts.
• This convinces victims to engage further with what they believe is a legitimate recruiter.
• Instead, it is registered with the independently run Financial Commission, a Hong Kong organization that grants registrations to offshore brokers.

Managers then invest those funds and, if they make a profit, they take a commission and payout – in proportion to the amount that they put in – to the investors that gave them money. In March 2020, the UK FCA issued an investor warning against Trade99 and its operating entities in Dominica and Estonia (see here). Both the Australian regulator ASIC (see here) and the New Zealand FMA (see here) have also issued warnings against Trade99 and its operators in recent months.

Report H5.trade99.top to authorities and warn others of the scam by filing complaints online. Estimates indicate H5.trade99.top and related sites have scammed victims out of over €100 million collectively thus far. Individual losses often reach tens or hundreds of thousands of dollars. The professional look of H5.trade99.top and the promise of getting hired after completing the “training” causes victims to believe this is a real job vetting process. Recently, the organization also launched a percent allocation management module (PAMM) accreditation scheme.

Frequently Asked Questions About the H5.trade99.top Scam

If the company is legitimate and wants to be taken seriously, then it needs to abide by the rules and make its operations more transparent. FMA recommends exercising caution before dealing with Trade99 and the website as Trade99 is not listed on the FSPR and is not an incorporated company in New Zealand. However, our Trade99 review discovered that only credit cards, bank transfers, and Bitcoin were actually accepted. The broker’s use of the Neteller and Skrill logos on their website has no relation to their actual accepted methods. Trade99 fails to provide any information about its staff on its website and promise fake returns.

The first point of contact usually occurs via WhatsApp, Telegram, text message, or another messaging platform. The victim receives a text claiming to be from a recruiter at a reputable company and expressing potential interest in hiring the victim for a work-from-home job. This extremely unethical scam is believed to be orchestrated by organized international criminal networks that strategically target English speakers in countries around the world. They operate H5.trade99.top and other similar sites to systematically steal money from struggling job seekers.

• The bottom line is that Trade99 is reportedly operating in New Zealand as an unregistered, unauthorized company.
• Traders with this broker are entirely in the dark, with no reliable expectations.
• Recently, the organization also launched a percent allocation management module (PAMM) accreditation scheme.
• The views and opinions expressed in articles are those of their respective authors and do not necessarily reflect the official position of MalwareTips.
• “We recommend exercising caution before dealing with Trade99 and the website as Trade99 is not listed on the FSPR and is not an incorporated company in New Zealand,” the watchdog warned today.

Trade99 offers an iPhone trading app for its customers, where they can use this app, anywhere, anytime. With an interface similar to webtrader, Trade99 is specially designed for handheld gadgets, wherein the trader does not miss out on a trade. A trader can trade in numerous CFDs sets, which include indices, precious metals, cryptocurrencies, and soft and energy commodities. Individuals from Trade99 have been contacting New Zealand residents with investment offers, withholding client funds and has the hallmarks of a scam.

Moreover, the financial commission acts as a mediator for any disputes caused by third parties. Also Trade99 strictly complies with AML and KYC standards, which averts tax evasion by preventing the unlawful entities to start trading from their platform. Trade99 is an unregulated offshore broker that has shown a significant lack of transparency.

Supreme Account

Instead, it is registered with the independently run Financial Commission, a Hong Kong organization that grants registrations to offshore brokers. In June 2019, the company has been registered as a member of the Financial Commission, a private-law organization regulating the forex market. The self-proclaimed regulator has not yet acted against the Trade99 scam, i.e. has not taken actions against its member. Scammers employ persuasive tactics to convince you to make an initial minimum deposit. They entice with promises of doubling the deposit within 24 hours and similar claims.

After accruing balances, victims suddenly have funds deducted and must pay fees to restore earnings that never actually get reimbursed. Immediately cease all communication with the scammers and disable any accounts created on their websites. Do not submit any additional fees on H5.trade99.top or other related sites no matter what promises are made. The ability to complete these mundane tasks and earn a few cents to dollars convinces victims they are making real progress toward the lucrative job. One of the agency’s services includes protection for up to €20,000 per the submitted complaint, which is backed by its compensation fund.

However, our Trade99 review has found their communications to be vague and unreliable. Traders can expect to receive less than they were promised in terms of asset selection, platform choices, and regulation. Avoid it by being wary of unsolicited job offers, looking out for red flags, verifying legitimacy of employers, never paying upfront fees, and avoiding shady “training” programs.

It promises easy work-from-home jobs paying lucrative hourly wages but is simply a front to steal money. The client support can be reached through email, chat, phone and social media. There is a different section on the site where one can discover the FAQ segment, which offers answers to the trader’s problems.

Many desperate victims end up paying escalating upgrade fees ranging into the thousands, believing each payment gets them closer to unlocking the fake job. Once hooked, the target is directed to H5.trade99.top, which is presented as the “training platform” they must complete to get hired. Victims are instructed to create accounts and complete mundane repetitive tasks, such as watching videos, clicking links, filling out forms, downloading apps, and even making purchased. They are awarded small sums like a few cents or dollars for each completed task, reinforcing the illusion that persevering on the platform will eventually result in the advertised high earnings. We have one of the most dedicated and specialized teams of professionals who work passionately in conjunction with the customer demand to provide exceptional services,” the company states on its website. What’s more shocking is that this broker promises traders MetaTrader 5 before they sign up.