Avoid this cloned Forex scam: Fxblockstream

Fxblockstream: The fake resurface thief

Recently a cloned firm surfaced online under the name FX Block Stream, claiming to be affiliated with the original FX Stream entity, and scamming innocent investors. This reflects poorly on the Forex industry and is a shameful, unethical act of thievery. This article will inform you of the specifics of this resurface scam, so you don't fall into their trap.

The original FX Stream was a respectable Forex trading platform known for its advanced trading tools and clean user interface. Unfortunately, the developers behind the scheme realized the brand recognition of FX Stream and attempted to deceive potential investors by reusing the name.

The fraudulent group behind FX Block Stream cloned the brand name, logo, and overall web design of the original platform. They even went so far as to create a false backstory, fabricating the connections between the alleged company executives and the previous FX Stream platform to induce consumer interest. The scammers took countless measures to ensure the cloned site appeared authentic.

Upon further inspection, however, there are noticeable discrepancies between the real FX Stream and the fraudulent FX Block Stream. The most obvious sign of a scam is that the real FX Stream has always been known as just "FX Stream" - the addition of "Block" in FX Block Stream is a blatant attempt by the fraudsters to capitalize on the brand recognition of the original platform.

Furthermore, while the fraudulent platform claims to be powered by a company called "FX Stream Markets Ltd.", the real FX Stream has never had any affiliation with this company. This is a crucial detail potential investors overlook.

It is important to always conduct proper due diligence and research before investing any funds with a brokerage firm. Cloned firms such as FX Block Stream are mere parasites, exploiting the good name and reputation of reputable Forex platforms to steal funds from unsuspecting investors.

It is imperative to maintain vigilance and be aware of these deceptive practices. Should you come across this fake site, know that it has no affiliation with the original FX Stream.

Some Tips on Avoiding such Scams

  1. If you're interested in trading Forex through a brokerage firm, make sure to check its credentials and if it's regulated by a reputable authority.
  2. Be cautious of unusually high-interest rates and too-good-to-be-true investment opportunities.
  3. If a company has no digital footprint, it's a major red flag. Never invest before searching for them through reputable sites like FINRA or SEC.
  4. If you've already invested, ensure your funds are still under your control and can be withdrawn at any time. Don't fall for any emotional tactics of fearing you'll lose out on great opportunities if you don't invest more.

And if you've been a victim of this scam, report it to the proper authorities and spread the word to help protect others from falling victim to such predatory practices.

Review

Leave a review