Review of the fraudulent platform OrangeFX247 and its scam activities
Experienced fraudsters often resort to rebranding and launching new fraudulent projects to cover their tracks and eliminate negative reviews. We have observed such behavior from OrangeFX247. In this review, we will examine the deceptive methods used by this pseudo-broker and how they lure money from their clients.
Brief overview of the company OrangeFX247
These scammers did not bother to come up with a suitable name for their project. OrangeFX247 seems more like a test version, and it is already the 247th in line. The website orangefx247.com raises suspicions from the start and suggests that the success statistics presented are merely a facade:
- 10 years in the market,
- over 7 million clients,
- 17,824,190 profitable trades daily.
This is an obvious lie! OrangeFX247 was launched only on March 16, 2021. It is a brand new project that has not yet received a sufficient number of reviews.
Moreover, where would they get 7,000,000 traders from? In a month, it was searched on Yandex only 91 times, with many searching for broker reviews.
No information about the license and regulation of OrangeFX247 is provided. The scammers conceal their names and addresses, demonstrating an anonymous approach that lacks financial accountability to clients.
This information is confirmed in the “User Agreement.”
Raising the input bar: checking the contacts
In addition to several emails, which are pointless to complain to, a British phone number is provided. After a brief investigation, it was found that +44 1632 960066 belongs to James Smith, one of the managers of Credit UK Bank.
What does OrangeFX247 offer?
OrangeFX247 offers access to trading:
- major Forex currency pairs,
- gold,
- digital currencies,
- indices,
- stocks.
Trading is offered through the proprietary platform OrangeFX247 Webtrader (available for PC and mobile). A demo account is not provided, requiring clients to invest funds immediately. The minimum deposit is 250 euros, and for the Mega Start tariff, it is from 25,000 euros. Bonuses are offered:
- A welcome bonus of 20-30% of the account deposit amount,
- A referral bonus – 30% of each referral’s deposit.
Our clients’ reviews
Reviews of OrangeFX247 were unavailable for some time, which can be attributed to the project’s freshness. Only a few comments were found on independent forums.
Scam scheme in OrangeFX247
OrangeFX247 uses a manipulated terminal to easily access others’ deposits. With special software, they simulate trading and convince clients to invest more funds. Once they realize there is nothing more to take, they artificially deplete the entire deposit. Due to the lack of legal support, traders are left helpless.
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Conclusions on OrangeFX247
OrangeFX247 is a low-grade, artificially created brokerage firm. Professionals will immediately see the essence of the fraud, considering the lack of proper legal documentation and suspiciously low quality of the provided platform. Scammers target newcomers, enticing them with empty promises, bonuses, and a low entry threshold. Working with OrangeFX247 is not recommended – it is a pitfall that will not lead to anything good. Leave your reviews to help others avoid such scams.
My experience with OrangeFX247 was absolutely disappointing and I would not recommend it to anyone. The trading conditions they provide are less than desirable. The spreads are too high and the trading platform they use is outdated, slow, and often prone to glitches. I faced several issues with order execution which resulted in significant losses. Also, their supposed 24/7 customer support is practically nonexistent, as I found it extremely difficult to get a timely response to my queries. My withdrawal request was also delayed by weeks with no reasonable explanation. It’s safe to say that trading with OrangeFX247 was a stressful and unprofitable experience.