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There are many things already said about the SHANGQUAN broker scam. You got it – the SHANGQUAN is a scam! Many signs make this broker a scammer. Read this SHANGQUAN review to uncover everything to make yourself aware of this scam broker.
Broker Website – https://shangquanfx.com/
Address – RM4,16/F,HO KANG COMM CTR,2-16 FAYUEN ST,MONGKOK KL HONG KONG
Warned By – Not Recommended By Review Website Like Fraud Reports Online
SHANGQUAN Domain Status
|December 15, 2021
|8 months, 28 days, 4 hours, 33 minutes, 30 seconds
While the online trading market offers numerous businesses valuable open doors, scammers go after clueless investors to trick them and steal their money. Remember that an unexpectedly attractive deal from an unknown element may not necessarily be the one as it shows up.
One such potential scammer is SHANGQUAN. Read more about this broker and the ways of scams done by this broker in this SHANGQUAN review.
SHANGQUAN Review: Introduction
SHANGQUAN claims it was established in 2016 and is settled in Hong Kong. Their website is shangquanfx.com. After checking its domain, we found that it was made in 2021. So there is no possibility that this business was started in 2016. This is the first point that makes this broker a suspect of a scam.
SHANGQUAN Review: Regulation
To offer forex trading in Hong Kong, the broker has to be regulated by Hong Kong’s regulator Securities And Futures Commission (SFC). But when we checked SHANGQUAN’s name in SFC’s database, we found no information about this broker. So, it is clear that SHANGQUAN is not regulated by Hong Kong’s SFC or any other regulator. Letting this broker offer trading and investment service can be risky, as your money can not be safeguarded by any regulations.
SHANGQUAN Customer Review
Checking online reviews before picking any broker for trading is a good practice. If you check SHANGQUAN reviews on the web, you will find many negative reviews about this broker. According to the reviews, employees of SHANGQUAN have good talking skills that make you trust them easily. Kindly have zero faith in them as they will take all the money you invested.
How does SHANGQUAN function?
Typically, SHANGQUANFX utilizes deceiving promotions via social media to bait individuals. They also give some links on their site, which ask you for information like your email and contact number. If you fill in the details, they immediately contact you and commit to offering high profits on your investments.
Since they are professional scammers, before you understand, they will convince you to invest something and request your bank card details. After that, they show you some profit and ask for more investment based on it.
But, the problem may arise when you ask for a withdrawal. They will stop your withdrawal on some pretext and, in the meantime, abscond with your money.
Genuine organizations don’t do such things, so if somebody pushes you to invest, most probably it’s a trick.
SHANGQUAN Review: Conclusion
Fraud Reports Online can’t suggest this broker for trading and investment.
Never permit SHANGQUANFX to take your highly earned money, and try not to sign in or click on such investment platforms.
Before picking any platform for investment, we suggest you do some research about it. Make some effort to figure out things that makes your picked broker suitable for your investments.
Also, if you are a victim of a SHANGQUAN scam, or any other scam like a forex scam, cryptocurrency scam, binary scam, pet scam, dating/romance scam, etc., you scam contact us to recover your funds. Fraud Reports Online is an online help community that helps you fund recovery and provide you with a free consultation.
Also to read more about such brokers, check out the list of scam brokers 2022 here. We hope this SHANGQUAN review helped you.
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