Brother Dong recently received complaints! Among them, it is claimed that FAIR MARKETS, which holds the full license of ASIC (MM) of Australia, has been warned by various platforms due to complaints of high-frequency withdrawals?
After the exposure of complaints against FAIR MARKETS for fraud, the broker FAIR MARKETS explained the behavior as fake, and the scam by agents led to the disappearance of their official website ăhttps://user.vipfair.ink/logină, indicating that the official website of FAIR MARKETS is still in operation, as proof that this incident is unrelated to the real broker FAIR MARKETS.
Brother Dong checked some of the websites provided by the victimized investors, and indeed, the scam agents had absconded. The current official website address of the broker FAIR MARKETS is ăhttps://fair.markets/ă. So, did FAIR MARKETS fall prey to impersonation that cheated customers, or does the FAIR MARKETS broker itself have issues? Today, we'll delve into the broker FAIR MARKETS.
FAIR MARKETS, a company based in Mauritius, was established in 2021 and was acquired in the same year by Trive Investment B.V., a Dutch company that provides forex and CFD brokerage services.
Withdrawal from Mainland China by GKFX · GKFXPrime
Speaking of which, it's impossible not to mention a platform called GKFX · GKFXPrime, which should be familiar to investors in the industry. In 2023, GKFX · GKFXPrime, an old brand by then, was exposed for embezzling customer funds through impersonation. Following this exposure, subsidiary brands also came under fire from investors, becoming notorious as a fraudulent platform. This led GKFX · GKFXPrime to notify investors of its 'temporary migration' of investor accounts to FAIR MARKETS platform.
Of course, this "migration" was just a "notification" without seeking investors' consent! During this period, investors were unable to withdraw their funds successfully.
After the email was sent, GKFX · GKFXPrime quickly changed its logo to FAIR MARKETS, thereby confirming that the predecessor of FAIR MARKETS was indeed the fraudulent platform GKFX · GKFXPrime exposed for impersonation!
On the Dong Hui APP, Brother Dong found that GKFXPrime Financial is still operating, with a score of only 3.71, and marked with high-risk warnings due to regulatory impersonation, advising novice investors to trade with caution.
In the reviews for FAIR MARKETS, many indeed emphasized the account bans due to operational errors. Investors met "lead teachers" through the platform, made initial profits, then after large deposits, found themselves suddenly unable to operate, with accounts inexplicably frozen, requiring a significant sum for unfreezing.
Among them, victimized investors provided Brother Dong with chat and transfer proofs from FAIR MARKETS.
First, coaching through chat software? Indeed a trap!
Investors who met FAIR MARKETS' lead teachers on the Bubble chat software believed the sweet-talking promises of making a fortune within six months, transferring a total of 379,500 yuan to an account designated by Manager He. Notably, the recipient account belonged to "Jiangsu Tang Xiao Construction Engineering Co., Ltd.," clearly not an account of a forex company.
Second, official customer service entering the scene? Also a trap?!
If the previous victim financial deal was cheated by a fraud group posing as FAIR MARKETS, this investor contacted FAIR MARKETS customer service on the official website.
As per the investor's description, "Due to operational error on June 16, leading to account closure, the request for unfreezing was responded by FAIR MARKETS customer service, requiring a submission of 2% of the total assets, which is $15,224, for certification and unfreezing." Itâs the same operation error, the same high unfreezing fee, the same modus operandi, and the victims are not few in number!
Official Platform
On the official MT4/MT5 trading platform of FAIR MARKETS, as well as the official mobile APP of Metrack Company, it is evident that the commonly used platforms are MT4/MT5.
On MT4/MT5, one can find that the trading entity used by FAIR MARKETS is ăFAIRMARKETS TRADING PTY LTDă.
However, Brother Dong finds the official websiteâs statement perplexing. Although FAIR MARKETS uses the same company for MT4/MT5 and shows the entityâs licensed information on various platforms, the official website statement did not show the trading entity ăFAIRMARKETS TRADING PTY LTDă for MT4/MT5, but an entity named ăTrive Financial Services Australia Pty Ltd.ă?
Brother Dong immediately checked the official website of the Australian ASIC, where a license named ăFAIRMARKETS TRADING PTY LTDă with an "*" was found. The "*" indicates the license name has been changed.
Upon opening, the name of the license company is: ăTrive Financial Services Australia Pty Ltdă, meaning ăTrive Financial Services Australia Pty Ltdă is the licensed company.
Contrasting FAIR MARKETS' official website, it shows that FAIR MARKETS headquarters are in the Netherlands, as a wholly-owned subsidiary of Trive Investment BV, proving that the two are separate operating entities, and thus their licenses cannot be shared!
And in the investigation on the trading platform mentioned above, we have reviewed the MT4/MT5 trading entity of FAIR MARKETS as ăFAIRMARKETS TRADING PTY LTDă.
So for MT4/MT5, there are two possibilities:
- One is under maintenance and cannot trade, without updating the real trading entity name.
- One "forgot" to update the real trading entity name, but still allows trades, with ăFAIRMARKETS TRADING PTY LTDă entity in an unregulated status.
Which one do you think it is?
Brother Dong found two license records from the related entity name FAIRMARKETS TRADING: one has been revoked, and the other, a hanging license without forex trading permission, is also located at: Level 10, 20 Martin Pl Sydney NSW 2000. This address matches that displayed by ăFAIRMARKETS TRADING PTY LTDă.
Conclusion:
The real trading account entity on FAIR MARKETS' MT4/MT5 platform, ăFAIRMARKETS TRADING PTY LTDă, has changed its name, therefore it is unregulated. The license held by ăTrive Financial Services Australia Pty Ltdă cannot be shared with the subsidiary entity ăFAIRMARKETS TRADING PTY LTDă, and the same address registered license entity ăFAIRMARKETS TRADINGă is not qualified for forex trading. From beginning to end, it was about exploiting novices' investor's lack of clarity regarding the complete name of the registered entity, taking advantage of the regulatory body's name-changing phase to muddy the waters and evade regulation!
The above content is based on document check by Brother Dong, to avoid illegal brokers utilizing their proprietary trading platform to create an absolutely controlled trading environment. This check is for reference only, please carefully verify before trading!
