Chinese Forex traders are known for their no-nonsense attitude towards fraudulent broker dealings, as seen in the case of the raids at IronFX offices in Shanghai and other similar happenings as they try to take laws into their hands. The most recent of such case involves AETOS Capital Group, as AETOS suffered blackmail attempt and staged protest at their offices in Heilongjiang Province.
27 July, 2015 | AtoZ Forex – AETOS is a renowned Australian brokerage and accordingly licensed by the Australian Securities and Investments Commission (ASIC) since 2007 (AFS License: 313016, ACN: 125113117, ABN: 94125113117). The headquarters of AETOS is located in Sydney, Australia. By virtue of its ASIC license, the firm operates its business covering most of Asia-Pacific. It is also authorized and regulated by the Financial Conduct Authority (FCA, registered number: 592778), with a branch office in London. Notwithstanding, the firm also boosts operations in the Chinese region.
Who are behind the staged protests?
Relating back to the staged protest against AETOS, a few days back the Chinese offices of the broker in the Heilongjiang Province was stormed by a large group of traders and affiliates. Claiming to have been cheated out of their funds by the unfair conditions and dealings of AETOS. This is in contrast of the firm’s claims on its website that the company adheres to the principle of “Fairness and Efficiency”. It is quite clear that the accusations of AETOS fraud was masterminded by former AETOS affiliates.
UPDATE: AETOS expose blackmail
A few days after the report of AETOS suffered blackmail attempt, the Australian broker has reported that a certain Mr. Yang, who is an affiliate, was behind the staged protest against AETOS. He is said to have requested that the broker refund some of his client deposits to him as he felt he deserved this compensation for his allegiance to the broker. He also cited the recent case that occurred in IronFx, where affiliates went on Tv to air their complaints about the company’s operations. AETOS has reported the case to the Shanghai Police Station in China and has started legal advice accordingly.
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