What a shocking revelation! What kind of dubious platform has been thrust into the limelight, attracting widespread condemnation on Weibo? Today, we continue our follow-up on the saga of counterfeit activities on the "Watch Guy's" platform!
ETO Markets
Those familiar with ETO Markets might have heard about the trading scandal involving the "Watch Guy". He is a three-time trading champion on the FOLLOWME platform, managing millions of dollars across global markets. This situation has caught my keen interest!
Recently, investors have inquired about the "Watch Guy's" Weibo posts and the exposure of victims of ETO Markets that resurfaced a few days ago:
The "Watch Guy" has provided evidence concerning the fraud at ETO Markets. Today, we will explore the timeline to understand the truth behind the continuous scandals of ETO Markets.
What Sparked the Issue: Did ETO Markets' Trading Platform Have a Spread Over 5%?
Starting October 31, the "Watch Guy" invested $350,000 in trades on the ETO Markets platform. By early November, he held 61.18 leveraged positions in a 5000-ounce contract. The market opened under 22.46, quite dissimilar from the usual opening around 23.7 on other platforms, resulting in a spread over 5% on ETO Markets! Unexpectedly, this abnormal opening price for Silver XAGUSD at 22.4612 led to the "Watch Guy" being margin called instantly. He promptly lodged a complaint, expecting a proactive response from ETO Markets. However, ETO Markets' ensuing chain of scandals began from there!
ETO Markets Denies the Incident, Even Spreading False Information?
This clear case of unusual quoting leading to margin calls received neither any official acknowledgment nor response but was met with blame-shifting instead?
The "Watch Guy" demanded compensation for the difference between the closing price and the margin call. ETO MARKETS officially responded, deeming his demand for compensation too high, leading to a stalemate. Left with no choice, he filed a police report, prompting an immediate investigation.
A String of "Coincidences" for ETO Markets' Owner – A "Cross-border Fraud Family"?
With identical addresses, ETORO was a former name for ETO, and the ASIC licensed company [ETO GROUP PTY LTD] was formerly known as [ETORO GROUP PTY ITD], making the now-absconded ETORO a predecessor of ETO Markets.
Furthermore, WEI CHEN, a director at ETO MARKETS LIMITED regulated by Seychelles FSA, shares a "coincidental" common name with TMGM's former owner. Notably, ETO Markets and Dupont have identical registered addresses.
The broker eToro and ETO Markets have identical license addresses and numbers, raising understandable suspicions.
The platforms ETORO, TMGM, Dupont, and eToro, all facing massive customer complaints for fleeing with donations, share mysteriously identical back-end details – too much to be mere coincidence. This includes the revelation from the "Watch Guy" in December 2023 on a short video platform.
Continuous Scandals Reveal Endless Customer Complaints Against ETO Markets?
Following the "Watch Guy's" exposure of ETO Markets' malpractices, a surge of victims came forward, demanding the exposure of ETO Markets' fraudulent schemes, all indicating sudden data irregularities.
What's Worse, Investors Exposed Shocking Statements: ETO Doesn't Allow Customers to Make Money!
Following these shocking revelations, ETO swiftly fled from the domestic market, leaving a plethora of investors unable to withdraw their funds. Agents and staff, unable to shelter themselves, began shifting blame or outright blocking investors to dodge accountability.
Currently, the standoff between the "Watch Guy" and ETO, along with ETO's announcement of exiting the domestic market, has caught the attention of many. The victims are raising their voices, leading to a significant increase in platform complaints and exposures.
With a large number of investors unable to withdraw their funds, ETO continues to utilize their hard-earned money for expansion. I still hear of new investors inquiring about ETO. Investors should not blindly trust any broker platform. I advise checking platform evaluations and feedback from fellow investors. I will continue to update on new fraudulent schemes exposed by our community and keep a close eye on the "Watch Guy" incident and subsequent disclosures from investors unable to withdraw their funds.
I hope our community can avoid the risk of fraud. If you have any brokers you wish to expose or follow up on, please feel free to contact me and the exchange platform. Let's share information and support each other in seeking justice!
