Recently, regulators have reported several sophisticated scam cases targeting foreign exchange traders. According to an official warning from the international broker OctaFX (holding a Cyprus CySEC regulatory license), scam groups set up highly convincing counterfeit websites (using domain variations like OTFX), stealing the genuine platform’s trademark, regulatory number, and customer service information. They also place ads on social media with slogans like “limited-time high rebates” and “zero-risk trading” to lure users into depositing funds.
Such scams have four distinct features:
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