It has been over two months that the Russian Self-Regulatory body CRFIN, abbreviated from Centre for Regulation in OTC Financial Instruments and Technologies, has blacklisted Forex Trend. Based on the allegations of utilizing the PAMM account unjustly, which was signaled through an open letter of Alpari RU to CRFIN. Aside this case, yesterday the self-regulatory CRFIN has blacklisted another financial entity. This time the Russian CRFIN blacklists Unix Trade, based on lack of transparency and not possessing over a SRO CRFIN membership.
In more detail, the Internet project Unix Trade is an investment firm based in London and got founded back in 2013. Claiming to have experienced investor’s and currency trader’s team installed, Unix Trade launched a new project last month through its unix-trade.com website. Reportedly, Unix Trade now offers to potential investors the opportunity for opening an account to receive the questionable and guaranteed daily profit of 0.5 to 1.5% per day.
Unix Trade’s investment plans claims that clients are able to invest and deposit for at least as one day, whilst up to sixty days plan. Noteworthy is that the there is no objective guarantee of Unix Trade paying the claimed percentage or return of payment, hence lacking the transparency upon the business. On top of this issue, Unix Trade intensively promotes partners substantial bonuses for attracting new clients, making the public to question its underlying motive of business model.
Furthermore, the investment firm does not disclose any information on being regulated or possessing over any license from a legitimate authority. Hence, making the firm more suspicious of its business operations, while prohibiting Unix Trade to attract any clients’ funds. Consequently, CRFIN blacklists Unix Trade and warns the public that the firm does not hold a membership of SRO CRFIN. Therefore, any investment with Unix Trade is considered by the CRFIN to be a high-risk activity, CRFIN warns the public of potentially losing their funds fully or partially when committing their funds with Unix Trade.
Now that Unix Trade has been added to the exhaustive blacklist of CRFIN, the long list of frauds has been accumulated up to 44 financial entities. Beware of these companies prior committing your hard earned funds.