Sellfkings - fraudsters in the Forex market
14 / March / 22
Visitors: 564
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The broker Sellfkings, which operates in the Russian Federation, is a scammer with a tarnished reputation.
When we go to the official website of Sellfkings - Sellfkings.com, we will find that this company provides intermediary services for Forex transactions in the territory of the Russian Federation. In addition, Sellfkings provides programs for financial transactions.
Our employees looked at the Sellfkings website, got acquainted with the working conditions, made attempts to get demo access to the services, investigated the existence of documents, the region where the company was registered.
With the help of this data, we will find out: Is Sellfkings a scam or not?
In addition, we will explain to you how not to get hooked by scammers, about their algorithms of actions. We will tell you all the necessary information in order to keep your investments safe.
Sellfkings is based in an offshore country
The main signal that Sellfkings.com is criminals is the region of registration. According to the documents, the company is registered in the Marshall Islands, which is already in doubt, since the company operates in the Russian Federation. Offshore countries attract the attention of swindlers due to the lack of laws and executive power.
Moreover, this state does not have the authority to trade on the Forex financial market.
Also, when our employees tried to identify the physical or legal address, information about the owners and management of Sellfkings, they were unable to reveal anything.
This already hints that Sellfkings.com is a fake broker, which can result in big financial losses.
Lack of information about Sellfkings organizers
After examining the website, we have not been able to identify the truthful information about the directors of Sellfkings. No physical address, no phone numbers or other means of communication.
We assume that this means that the real leaders are trying to hide themselves in order to hide from punishment for their actions. Even if it is possible to expose one of the Sellfkings employees, then everything will end there, and the actual leaders of the criminal company will remain free with the money.
Sellfkings, official website - Sellfkings, works less than thirty days
The Sellfkings website speaks of serious experience in the Forex financial market.
The most common method of analyzing a website is to obtain information about its domain. Usually, they contain the age of the domain name, the contact information of its owner.
In a specific case, the Sellfkings.com domain exists for less than one month, and all information about the legal entity or individual that owns it is hidden. Another proof that the owners of Sellfkings are trying to protect their anonymity.
This desire can be accepted, but not when it comes to a financial company working as an intermediary between a client and Forex.
At the same time, Sellfkings.com themselves assure their users that they have been successfully trading in the Forex market for a long time.
Sellfkings does not have a trial period
It is a common practice for online brokers to give traders a demo of the software to get them familiar with the interface, to try their hand at forex trading with fake money.
Unfortunately, on the official website of Sellfkings, we could not find data on the demo period, the opportunity to try out the software.
We think that the organizers of the Sellfkings organization most likely do not plan to provide traders with demo access to the software, since someone is able to suspect a scam.
Online broker Sellfkings.com operates with a negative account
Official organizations that carry out activities in Forex do not use a negative account in their work. In accordance with the laws, an Internet broker trader cannot spend more than there is on the balance sheet. In cases where the balance goes into a negative value, the debt will have to be repaid not by the trader, but by the company that provided its services.
In accordance with this, official brokers do not use a negative account in their work.
Nevertheless, Sellfkings offers customers trading with a negative balance, that is, on credit.
Why is it necessary?
In order to drive the user into a minus and require him to pay the debt. This is one of the most common methods of fraud used by criminals.
If this happened, you need to know that scammers have no way to knock out finances in accordance with the laws of the Russian Federation. Any methods of influencing users are considered criminal. The most that scammers can do is to disturb with calls, write letters with demands.
It is impossible to work with Sellfkings.com, since any attempts to negotiate will turn into new losses.
Sellfkings.com operate with a leverage of 1:400 or more
Already now, it becomes clear that Sellfkings are swindlers. And yet, let's pay attention to another nuance, namely the presence of too high a credit ratio.
The credit ratio is the ratio of the funds of traders and online brokers when concluding a transaction. Leverage makes it possible for traders who do not have large amounts of money to close large trades.
In order to protect users of the Forex market, in civilized regions, the legislation provides for the use of a credit ratio with the highest ratio of 1 to thirty, in rare cases 50.
At the same time, Sellfkings applies a credit ratio of 1 to four hundred for operations in the Forex financial market.
This relationship is permitted in Switzerland, as organizations registered in this state enjoy considerable trust. But Sellfkings is not registered in this state.
In fact, Sellfkings is not allowed to operate in the Forex market with such leverage, due to the high risk to users. Accordingly, this is done solely to force the trader not only to give away as much money as possible, but also to drag him into debt.
Sellfkings Local Offices
It is considered prestigious for any company to have local branches in developed countries, even if the activity takes place exclusively in Russia. So Sellfkings reports that in addition to a significant number of awards, there are regional offices in Britain, Australia and other developed countries, and also about a lot of competent employees.
It is quite easy to check the reality of these subdivisions. Since profile structures are known that regulate the work of online brokers. In the UK it's FCA, in Australia it's ASIC.
Accordingly, a law-abiding organization is required to have official documents from these or other structures that will prove their ability to provide services for trading operations in the Forex market, regulate the degree of responsibility.
However, after analyzing specialized websites, our experts did not find them. This once again confirms our fears.
Registration on Sellfkings.com requires the transfer of personal data
As we reported earlier, Sellfkings does not have a demo period and, accordingly, in order to gain access, you must immediately transfer the minimum deposit to Sellfkings bandits. In addition, access to the Sellfkings.com personal account is real only when passing identity verification.
This means that Sellfkings requires users to submit data such as:
- Information about an individual;
- Information about the permanent place of residence (receipt for utilities);
- Data about qualifications, place of work, experience.
In addition, during the initial payment, scammers are able to gain access to bank card information.
Together, this information can enable scammers to make a loan to a trader, or to carry out other shadow operations.
Since you need to transfer your personal information to register on the Sellfkings.com website, our employees were not able to access the Sellfkings personal account and Forex trading services.
Reviews about Sellfkings
An important point of exposing Sellfkings is the analysis of user reviews.
The study of the issuance in search engines gave us the following information:
- Most of the references to Sellfkings on the Internet are lies. These are the same positive mentions of the paid type;
- All true references to Sellfkings are negative. Our experts were unable to find reliable reviews from Sellfkings.com users that would mention profit, efficient operation.
- Negative mentions and comments are caused by illegal activities, theft of funds, artificial creation of credit.
Because of this, real reviews about Sellfkings say that this online broker is a scam.
Sellfkings contact information and documents
Analyzing the data on Sellfkings.com, we saw a lot of dubious digital official papers that can be easily done with a graphics editor. They are not confirmed by official firms, which means they cannot be trusted.
If an online broker is not associated with regulatory companies, then its clients simply have nowhere to turn for help.
On the "Contacts" page, our specialists found a phone number. It turned out that it had already been used by an illegal broker. There are also many reviews on the web about fraudulent activities associated with the phone number listed on Sellfkings.com.
Withdrawing money from Sellfkings.com
Are you going to make money with the help of the financial market Forex online broker? Make sure that you can take away investments from him.
Having studied the trade agreement on the Sellfkings website, our specialists did not find clear information about the methods of withdrawing earnings. Also, our experts saw a mention of fees for account inactivity, but there was no information about their size. Since the bandits do not work in the legal field, it is impossible to challenge these requisitions.
That is, even if the client has ceased cooperation with Sellfkings, they can start calling and sending messages demanding payment of a fine.
How does Sellfkings work?
The method of finding new customers that Sellfkings uses is also suspicious.
Fake social media profiles are used for advertising, in which fake people broadcast about how they instantly managed to get income working in the Forex market through Sellfkings. Non-existent people show expensive cars and real estate, travel to resorts and other manifestations of a prosperous life.
Fakes guarantee rapid income, for which you do not need to learn or put in a lot of effort.
When a potential trader gets in touch with scammers, Sellfkings managers report the reality of instant earnings, as well as some unique abilities of their programs, which will make it possible to instantly earn solid earnings.
Further, all sorts of tricks go into work, making it possible to get the maximum amount of finance from the client. For example, you may be drawn with fake profits to inspire you to invest more money.
If the work on Forex is negative, the personal manager will recommend transferring even more to compensate for the negative.
Sellfkings employees act according to manuals created by experienced manipulators. Scammers study information about a trader in order to influence vulnerabilities and get more deposits.
In any case, everything will lead to one of the options:
- When you decide to withdraw money before you find yourself in debt, you will draw fees, close the balance, and do everything to make you pay more;
- If you allow criminals to drive the balance into a loan, there will be threats, bandits will start extorting to return a fictitious loan.
An additional way to earn income for Sellfkings can be the transfer of your personal data to third parties. Probably, as a result, complete information about you will be available for a small amount of money on some anonymous community on the shadow Internet.
Surely, because of this, various swindlers, managers, etc. will call you more often. You can also wait for letters from Sellfkings accomplices who will offer to "receive" the lost finances, of course for a fee.
Since Sellfkings does not work in an official field and remains incognito, Sellfkings cannot be forced to respond under the laws of the Russian Federation. The organizers of the criminal company are diligently hiding and, at best, the legitimate authorities will be able to catch one of the "administrators".
Can Sellfkings be trusted?
Not!
If you are going to give money to scammers, then transfer it to a good deed.
In short, we will voice evidence that the Sellfkings are criminals:
- Lack of official registration;
- No demo period;
- Lack of information about the owners of the company;
- Phone number found in illegal schemes;
- Negative account;
- Credit ratio greater than one to 50;
- Negative reviews;
- False information on the website.
This completes the Sellfkings review. Obviously Sellfkings are scammers.
For your safety, we have compiled a complete list of unscrupulous brokers.
