AMarkets
We are investigating AMarkets for allegedly attempting to conceal critical reviews and adverse news from Google by improperly submitting copyright takedown notices. This includes potential violations such as impersonation, fraud, and perjury.
PARTIES INVOLVED : AMarkets
ALLEGATIONS : Perjury, Fraud, Impersonation
INCIDENT DATE : 26 Aug 2024
INVESTIGATED BY : Ethan Katz
TOOLS USED : Lumen, FakeDMCA, SecurityTrails
CASE NO : 6956/A/2024
CRIME TYPE : Intellectual Property Scam
PUBLISHED ON : 22 Nov 2024
Is This About You?
What We Are Investigating?
We are investigating AMarkets for allegedly attempting to conceal critical reviews and adverse news from Google by improperly submitting copyright takedown notices. This includes potential violations such as impersonation, fraud, and perjury
We are investigating AMarkets for allegedly attempting to conceal critical reviews and adverse news from Google by improperly submitting copyright takedown notices. This includes potential violations such as impersonation, fraud, and perjury
What are they trying to censor
Investigative Report: Unpacking the Controversies Surrounding AMarkets
AMarkets, a brokerage firm operating in the forex and CFD trading space, has been the subject of numerous allegations and red flags over the years. These issues, ranging from regulatory warnings to customer complaints, have cast a shadow over the company’s reputation. This report delves into the key controversies, their implications, and why a company might go to extreme lengths—even illegal ones—to suppress such damaging information.
Key Allegations and Concerns
- Regulatory Scrutiny and Warnings
AMarkets has been flagged by multiple financial regulators for operating without proper authorization. For example, the Financial Conduct Authority (FCA) in the UK and the Cyprus Securities and Exchange Commission (CySEC) have issued public warnings against the firm, stating that it lacks the necessary licenses to offer services in their jurisdictions. Such warnings are a significant red flag, as they suggest that the firm may not adhere to the stringent standards required to protect investors. - Customer Complaints and Unethical Practices
A recurring theme in client feedback is the allegation of unfair trading practices. These include:
-
- Platform Manipulation: Traders have reported instances of slippage, requotes, and sudden spread widening, which often lead to unexpected losses.
- Withdrawal Problems: Many clients have faced delays or outright denials when attempting to withdraw their funds, a common issue in the forex industry that raises questions about the firm’s financial stability and integrity.
- Misleading Promotions: AMarkets has been accused of using aggressive marketing tactics that overstate potential profits while downplaying the risks involved in trading.
Opaque Corporate Structure
AMarkets operates through entities registered in offshore jurisdictions like St. Vincent and the Grenadines, which are known for their lenient regulatory environments. This lack of transparency makes it difficult for clients to hold the firm accountable and raises concerns about its commitment to ethical business practices.
Association with High-Risk Affiliates
The firm has been linked to introducing brokers (IBs) and affiliate marketers who employ questionable tactics to recruit clients. These practices, which often target inexperienced traders, further damage AMarkets’ credibility and contribute to its negative reputation.
Reputational Damage and Its Consequences
The allegations against AMarkets have significantly harmed its reputation. Regulatory warnings and customer complaints create a perception of a company that prioritizes profit over client welfare. The lack of transparency and association with high-risk affiliates only exacerbate these concerns, making it difficult for potential clients to trust the firm. In an industry where reputation is everything, such issues can lead to a loss of clients, reduced revenue, and even legal challenges.
Why a Company Might Resort to Cybercrime to Suppress Information
For a company like AMarkets, negative publicity can be devastating. Allegations of unethical practices and regulatory non-compliance can deter potential clients and erode trust among existing ones. In such a scenario, the firm might feel compelled to take drastic measures to protect its image, even if it means engaging in illegal activities. These could include:
- Hacking Websites: To remove negative reviews, investigative articles, or regulatory warnings.
- Intimidation Tactics: Targeting journalists, whistleblowers, or dissatisfied clients to silence criticism.
- Disinformation Campaigns: Spreading false narratives to discredit critics or divert attention from the allegations.
While these actions might provide temporary relief, they are ultimately counterproductive. Cybercrime not only carries significant legal risks but also further damages the company’s reputation if exposed. It underscores the importance of addressing underlying issues through transparency and ethical conduct rather than resorting to illicit measures.
Conclusion
The controversies surrounding AMarkets highlight the challenges faced by firms operating in the largely unregulated forex industry. While suppressing negative information might seem like a quick fix, it is a dangerous and unsustainable strategy. Companies like AMarkets would be better served by addressing the root causes of these issues, fostering transparency, and rebuilding trust with their clients. Anything less risks further reputational damage and potential legal consequences.
- https://lumendatabase.org/notices/44120157
- Aug 26, 2024
- SynergyCore Labs
- https://www.fxempire.com/brokers/amarkets
- https://www.daytrading.com/amarkets
Evidence Box
We are investigating AMarkets for allegedly attempting to conceal critical reviews and adverse news from Google by improperly submitting copyright takedown notices.
Targeted Content and Red Flags
About the Author
The author is affiliated with Harvard University and serves as a researcher at both Lumen and FakeDMCA.com. In his personal capacity, he and his team have been actively investigating and reporting on organized crime related to fraudulent copyright takedown schemes. Additionally, his team provides advisory services to major law firms and is frequently consulted on matters pertaining to intellectual property law.
He can be reached at [email protected] directly.
Many thanks to FakeDMCA.com and Lumen for providing access to their database
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How This Was Done
The fake DMCA notices we found always use the ?back-dated article? technique. With this technique, the wrongful notice sender (or copier) creates a copy of a ?true original? article and back-dates it, creating a ?fake original? article (a copy of the true original) that, at first glance, appears to have been published before the true original
What Happens Next?
The fake DMCA notices we found always use the ?back-dated article? technique. With this technique, the wrongful notice sender (or copier) creates a copy of a ?true original? article and back-dates it, creating a ?fake original? article (a copy of the true original) that, at first glance, appears to have been published before the true original.
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Average Ratings
2
Based on 8 ratings
Rohan Gupta
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Customer support is useless!!!.. They don’t even bother solving issues. Very bad experience...big regret joining amarkets
Ananya Reddy
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Guyss, this Amarkets site is total fraud, they took my money and didn't even reply! So frustrating.🤬🤬
Jack Harris
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This company fails to process genuine withdrawals. Despite claiming to send a refund, I never received my money and they provided no compensation. They repeatedly asked for the same documents without resolving the issue. Beware!
Grace Wilson
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I am extremely dissatisfied with this broker. My stop was activated for an order, and although my stop limit was set at $16 or lower, the transaction was closed at $50, resulting in a significant loss. This experience feels unfair and unprofessional.
Charlie Brown
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This broker is incredibly disappointing! They lack transparency and have a shady reputation for deleting negative reviews to cover up the unethical practices they’ve carried out, especially with clients in Vietnam. Their behavior raises serious concerns about their credibility and trustworthiness. I would strongly advise traders around the world to stay far away from this broker, as their actions suggest they cannot be relied upon.
Amelia Garcia
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Beware of this platform! They're clearly manipulating data, and if they can alter commissions, they might be mishandling your orders and funds as well. Avoid this scam at all costs!
Olivia White
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Honestly, this is one of the worst trading experiences I had. I was promised a return but after depositing, I couldn’t even get my account verified properly.
Shruti Mehta
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Withdrawal process is so difficult... they just keep blocking me... Worst trading platform ever..!!!