Transfers of financial fraudsters and domain changes
To avoid punishment and control by regulators, fraudsters in the financial sector often change domain names. With the new powers of the Central Bank of the Russian Federation for extrajudicial inclusion in the blacklist, companies such as Financial Force Group (FFG) are forced to change their online space more often. An example of this firm shows a move from financeforcegroupe.com to ffggroupe.com. It is necessary to study the offers that are made to potential clients and how scammers operate.
Research on the organization Financial Force Group
The company Financial Force Group is able to convince new clients of its competence. According to their claims, the brokerage activities of this firm have been going on for more than twenty years. Access to a wide range of financial instruments, round-the-clock support, and the best prices are offered. Their website states that they work with clients from 136 countries and execute over 8,000,000 deals per day. Although these numbers are impressive, they do not correspond to reality.
An analysis of the domain history shows that the company began its activities on January 20, 2022. Reviews about the company appeared before the launch of the site due to the existence of a cloned resource – financeforcegroupe.com. Roskomnadzor has already blocked this resource at the request of the Prosecutor General’s Office.
There is no information about the creators of the project, and the contact information is limited to just a feedback form and an email that remains the same as on the old site.
Internal documents establish strict conditions that make traders powerless. The client agreement does not indicate the other party to the contract and the responsibility for unforeseen circumstances.
Only the fake intermediary Financial Force Group does not provide a copy of the registration document and license. Information about the legal address is limited to a reference to the United Kingdom. However, the Companies House registry does not list a company with that name.
Relations between the company and the Central Bank of the Russian Federation are tense. Financial Force Group ignored the requirements of Russian legislation regarding registration as a legal entity, joining an SRO, and subsequent licensing by the Central Bank of the Russian Federation.
In addition, the country’s financial regulator has taken into account complaints from clients and included Financial Force Group on the list of suspicious financial organizations.
Presented trading opportunities
The fake broker Financial Force Group demands money from clients right from the start. Opportunities for active and passive income are promised, including automated trading. Investors are offered several types of accounts:
- Class A. Minimum deposit – from $100,000, profitability up to 8% per month,
- Class B. Initial contribution – from $10,000, profitability up to 15% per month,
- Class C. To open, you need to deposit from $250, profitability from 8%.
The platform also offers four classic trading plans with features such as minimum deposit, leverage, training, account manager assistance, and additional technical support.
There is no information on commissions and withdrawal rules. Reviews indicate non-compliance with financial obligations by Financial Force Group. The platform is focused on attracting clients and does not provide fulfillment of obligations.
Former clients’ reviews
Even with relocations and domain changes, the reputation of Financial Force Group remains in question due to numerous negative reviews. Clients consider the company to be fraudulent and recommend staying away from this project.
Course of the scam
These financial scammers do not have affiliate programs to attract clients. They write to users from fake accounts, present themselves as experienced traders, and tell their successful stories. After registering clients, they deceive them for a minimum amount and then for additional funds under various pretenses.
When a client wants to withdraw profits, they strongly recommend paying for insurance, fees, and taxes. In any circumstances, scammers find reasons for further money withdrawal. Even if the client agrees to all the conditions, they will not be able to receive the promised profit. Finally, their account is blocked, and contacting support is futile due to fake email and lack of contact phones.
Conclusion
The reputation of Financial Force Group is tarnished, as confirmed by numerous negative reviews. The Central Bank of the Russian Federation has warned traders about the risks of working with this company. Users are encouraged to share their experiences to help others understand what FFG represents.
I am thoroughly dissatisfied with Financial Force Group’s broker work due to their lack of clear legal framework, unverified trading terms, and overwhelmingly negative trading reviews.
My experience with Financial Force Group was nothing short of disappointing. The customer service was simply inadequate with slow response times and uninformed responses. The trading platform was also not as user-friendly as advertised and was constantly plagued by technical issues. But what troubled me the most was the lack of transparency regarding the legal framework and terms of service. With no clear explanation about their fees and account restrictions, I was left in the dark about key aspects of their service. The experience felt decidedly unprofessional and I cannot recommend the Financial Force Group to potential investors looking for a straightforward and rewarding trading experience.