This is a warning to investors in binary options who have been contacted by Mark Edward of marketeffects.co. Brokers Community is a scam.
We issued a warning about Market Effects a few days ago (see link at the bottom of the page). It is a follow-on-fraud targeting the victims of binary options trading scams.
Copied below is a typical email from Mark Edward.
From: Mark Edward <firstname.lastname@example.org>
Subject: ABOUT TRANSFER OF YOUR LOST INVESTMENT AND PROFIT
Hello [Name of Investor]
Emails and names of those who lost money with some companies (HBC Broker, Binary Online, Big Option, OptionRidge, BinaryBook, Lion Market, Bloombex Option, Stern Option, B4 Binary and so on) were submitted to us for investigation and recovery started long ago. let me know how to contact or you can also contact my office: +44 203 807 8218
Payments will be 100% of the deposit you made plus 80% of your estimated profits.
This is a program set up to fight against irregularity on the financial market and help clients. Brokers Community has no link nor works with any of these companies. Brokers Community investigates both the non-regulated and regulated companies who broke several rules. Some of which get successfully shut down. So it’s important you get your money before that happens.
You are not paying me anything, I am fully paid to do my job as a financial specialist. you may wonder how Brokers Community get their money? They get their money from the lawsuit against the company. they go to different courts until they win cases against irregular companies. we do this the legal way and the right way on the financial market. we sometimes even go to court on your behalf.
There is no connection between you and your investment anymore. we are trying to create a link so you can be able to retrieve your funds back. the bank has failed to help because it is a long time ago. the reason we help: we provide and revoke the license, protect clients, keep the integrity of the UK financial system. this applies to different kinds of companies and Services.
Specialist | VIP and Corporate Department
+44 203 807 8218 | email@example.com
The email is obviously written by someone who does not have English as his/her first language. He/she also doesn’t understand when to use capital letters.
“You are not paying me anything, I am fully paid to do my job as a financial specialist”. That sounds good.
The problem is that we have read this email several times and we are not entirely sure whether Mark Edward is claiming that they have already recovered the “100% of the deposit you made plus 80% of the profit”, or whether he is saying that if the investor pays Brokers Community it will take action to recover the 180%. We are leaning towards it being the latter i.e no money has been recovered and he is trying to persuade the victims to pay Brokers Community with false promises of recovery.
Brokers Community is a scam but it isn’t a particularly good one. If the claim is that they already have the money but they need the investor to pay them in order to release it, the investor is going to say “take my fee out of the money you hold and send me the balance”. Oops – you can’t really get around that Mr Edward. You’ll struggle to deal with the logic of such a request.
If it is the more likely scenario that Brokers Community is claiming to be able to recover the money if the investor pays them, they should put much more effort into their presentation. It is extremely amateurish and has all the hallmarks of an outright scam. Brokers Community is a scam pretending, rather poorly, to be able to recover investments from binary option trading scams.
At Safe Or Scam we are involved in trying to recover money from several binary option trading scams. We know exactly how long and difficult the process is. Binary option trading scams typically involve very large sums of money, non-existent Marshall Island companies which are there to provide a smoke-screen, and a considerable number of money mule companies willing to collect and hide the money on behalf of the scammers. It takes quite a long time to build a strong enough case to enable legal action to be taken, but when we get there we are able to peel back another layer of the onion as Mr Derrick Williams of Access Corporate Ltd (a money mule closed down by one of our clients) will testify. He and his accomplices, Nicholas Adamou, Gregory Odia, Alan Curran, Simon Curran and Yoav Barnes will have a very uncomfortable year ahead. We are closing in on them.
To view our previous article on Market Effects please click here.
LATE EXTRA: We have just been informed that if you are contacted by Mark Edward he will definitely ask you to pay for their service. However, he will refer you to a specialist website where you will be asked to pay with digital currency. He has just done that with one person who has now contacted us. Most people will not have a clue how to change cash into digital currency, but it is easy. You hand over real money e.g by bank transfer or by card and the website will convert it to digital currency like bitcoins. You may think this is odd but it is a classic money laundering route. Once your money is converted into digital currency and you then pay the scammer with that currency it becomes completely untraceable. It is not held in a bank and there are no ownership records. They are able to disappear with the currency and can convert it back to cash anytime in the future.
To view an update on the Mark Edward / Market Effects scam please click here.