Sellfkings is a very dangerous broker - Scam!
By The Forex Review - 14 / March / 22 776
Dominick Bell
Online broker Sellfkings, operating in Russia, is a scam with a tarnished reputation.
When we go to the official website of Sellfkings - Sellfkings.com, we will find that our company offers brokerage services for working on the Forex financial market in the Russian Federation. Sellfkings also provides services for trading activities.
Our employees looked at the Sellfkings website, got acquainted with the terms of operations, made a trip to get demo access to the programs, looked at the existence of official documents, the region of registration of the organization.
With the help of the data obtained, we will find out: Sellfkings - a divorce or not?
In addition, we will tell you how not to fall into the trap of criminals, about their methods of operations. We will give you all the information you need to keep your money safe.
Sellfkings is offshore
The main call, which indicates that Sellfkings.com are criminals, is the registration region. The organization is officially registered in the Republic of the Marshall Islands, which is already suspicious, since Sellfkings.com operates in Russia. Offshore regions are popular with scammers due to the absence of the need to comply with the law and regulation.
In addition, this state does not have the rights to trade in the Forex market.
Moreover, when our experts tried to identify the physical or legal address, mentions of the owners and directors of Sellfkings, they could not find anything.
This already suggests that Sellfkings.com is a fake broker, interaction with which can result in large financial losses.
Sellfkings.com directors data not found
After examining the website, we could not find plausible information about the organizers of the company Sellfkings. No physical address, no phone numbers or other ways to get in touch.
We think that this means that the actual leaders are trying to hide themselves in order to hide from punishment for actions. And even if you manage to reach out to one of the managers of Sellfkings, then this will all end, and the actual directors of the criminal firm will remain at large with money.
Sellfkings, official website - Sellfkings, is less than a month old
The official website of Sellfkings speaks of many years of experience in the Forex market.
The most common method of studying any site is to obtain information about the domain. Basically, they fix the period of existence of the domain name, the contact information of its owner.
In this particular case, the Sellfkings domain name has been around for less than 30 days, and the identity of the person who owns it is hidden. Another proof that the owners of Sellfkings are trying to remain incognito.
Such a desire can be accepted, but not when it comes to a financial firm acting as an intermediary between a trader and the Forex financial market.
At the same time, Sellfkings.com assure potential users that they have been working effectively in the Forex market for a long time.
Sellfkings.com does not have a trial period
It is a normal practice for Internet brokers to give traders a test version of the services so that they get acquainted with the interface, try out the possibilities in trading on the Forex market with virtual money.
Unfortunately, on the official website of Sellfkings.com, we could not find information about the demo period, the opportunity to try the software.
We think that the organizers of the Sellfkings company, most likely, are not going to provide traders with trial access to a paid service, since someone may suspect something is wrong.
Online Broker Sellfkings.com Has a Negative Account
Registered companies that operate in the Forex financial market do not use a negative account in their work. According to the law, the user of an Internet broker cannot spend more than what is currently on the account. In cases where the account still goes into a negative value, its debts will be required to be paid not by the user, but by the organization that provided its services.
In accordance with this, legal online brokers do not use a negative account in their work.
However, Sellfkings.com gives traders a job with a negative balance, that is, on credit.
What is it for?
To drive the client into debt and start extorting to pay off the debt. This is one of the most common methods of deception used by financial criminals.
If this has already happened, it must be remembered that criminals have no way to recover money under the law of the Russian Federation. Any means of influencing customers is considered illegal. The most that scammers can do is call, send messages with demands.
You cannot work with Sellfkings, as all attempts to negotiate will result in losses.
Sellfkings operates with a leverage of one to four hundred or more
Already now, it becomes clear that the Sellfkings are bandits. However, let us point out one nuance, namely, the presence of too much leverage.
Credit leverage is the ratio of the finances of clients and brokers at the conclusion of a trading operation. Leverage makes it possible to make large transactions for traders who do not have access to large amounts.
In order to protect traders in the Forex financial market, in civilized states, the current laws require the use of a credit ratio with the highest ratio of one to thirty, in exceptional cases 50.
At the same time, Sellfkings uses a leverage of 1 to 400 to make money on Forex.
This relationship is legalized in Switzerland, as companies registered in this country enjoy great confidence. However, Sellfkings is not registered in this country.
In fact, Sellfkings are not authorized to operate in the Forex market with such a credit ratio, due to the high risk to clients. Accordingly, this is used to force the user not only to give as much money as possible, but also to drag him into debt.
Local branches of Sellfkings
It is considered solid for a financial firm to have regional branches in developed regions, even if the activity is carried out only on the territory of the Russian Federation. Therefore, Sellfkings informs that in addition to an impressive number of awards, they have regional offices in England, Australia and other civilized regions, as well as thousands of competent specialists.
Checking the reality of these departments is elementary. After all, there are specialized organizations that regulate the activities of Internet brokers. In Britain it is FCA, and for example Australia it is ASIC.
Because of this, a law-abiding firm is required to have official papers from these or other organizations that will prove their authorized right to provide services for making money in the Forex financial market, indicating the degree of responsibility.
And yet, having studied industry websites, we did not find them. This once again confirms the suspicions.
To register on Sellfkings.com, you need to transfer personal data
As we mentioned earlier, Sellfkings does not have a trial period and therefore, in order to gain access, you must immediately pay the minimum deposit to the Sellfkings scammers. In addition, access to the Sellfkings.com personal account is possible only upon successful completion of user confirmation.
This means that Sellfkings requires its users to transfer data such as:
- Information about an individual (passport, birth certificate);
- Information about the permanent place of residence (payments for a communal apartment);
- Information about qualifications, length of service, place of work.
In addition, during the first transfer, criminals can gain access to personal account data.
Combined, this information can enable criminals to make a loan to a trusting client, or to carry out other criminal frauds.
Since registration on the official website of Sellfkings.com requires the transfer of confidential data, we never got access to the Sellfkings personal account and programs for making money on the Forex financial market.
Real reviews about Sellfkings
An important point of exposing Sellfkings is the analysis of feedback from traders.
A thorough study of the search results yielded the following information:
- Most reviews and mentions of Sellfkings on the Internet are lies. These are the same positive mentions and paid-type comments;
- All real reviews about Sellfkings are negative. We were unable to identify credible mentions from Sellfkings.com users reporting good income, efficient trading.
- Negative reviews and comments are related to illegal activities, stealing money, creating debt.
Because of this, Sellfkings reviews indicate that this online broker is a scam.
Sellfkings contact information and official papers
After reviewing the mentions on Sellfkings.com, we saw a lot of questionable digital white papers that can be easily done with an image editor. They are not confirmed by official companies, which means they cannot be trusted.
If an online broker is not associated with regulatory organizations, then clients simply have nowhere to turn for help.
On the "Contacts" page, we identified a phone number. It turned out that it had already been used by an illegal internet 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 Forex market online broker? Make sure you can take money from him.
Studying the client agreement on the Sellfkings website, our specialists did not find specific information about the methods of withdrawing earnings. In addition, our employees found a description of fees for a long period of inactivity of a personal account, but there was no data on the amounts. Since the scammers do not operate in the legal field, it is impossible to protest these fines.
That is, even if the user has finished working with Sellfkings, they can start calling and writing messages demanding to pay the fine.
How does Sellfkings work?
Suspicious and the way to search for users, which uses Sellfkings.
The advertising uses fake social media accounts in which fake bloggers spread information about how they instantly managed to make money working in the Forex market through Sellfkings. Bots expose expensive cars and jewelry, travel to resorts, and other manifestations of a prosperous life.
Non-existent people promise instant income growth, for which you do not need to learn or make a lot of effort.
If a trader comes into contact with criminals, Sellfkings employees report the reality of instant profits, as well as the unique features of their software, which will make it possible to immediately withdraw large profits.
Further, various tricks are used to get the maximum amount of investment from the trader. For example, a client can draw a fake profit in order to motivate them to invest more money.
If the work on the Forex market becomes unprofitable, the personal manager will recommend transferring more to close the debt.
Sellfkings managers work according to the methods developed by professional swindlers. They analyze data about the trader in order to act on specific places, to pull out more deposits.
As a result, everything will come down to one of the options:
- When you decide to withdraw money before you find yourself in the red, you will be charged fees, freeze your account, and do everything to force you to transfer more;
- If you allow scammers to drive the account into debt, threats will begin, scammers will extort to repay a non-existent loan.
Another way to generate income for Sellfkings can be the transfer of your personal data to interested organizations. Probably, after that, detailed information about you can be bought for a modest amount on some anonymous community on the shadow Internet.
Surely, as a result of this, all sorts of scammers, managers, etc. will call you more often. It is also worth waiting for letters from Sellfkings.com accomplices who will begin to offer a "return" of lost investments, of course for a fee.
Since Sellfkings does not work in the official field and keeps incognito, Sellfkings cannot be forced to respond under the current legislation in Russia. The heads of the criminal company skillfully hide and, at best, the legitimate authorities will be able to figure out one of the "administrators".
Should you trust Sellfkings?
Never!
Only if you are going to transfer finances to bandits, then it is better to transfer them to charity.
Let's briefly voice the evidence that Sellfkings are scammers:
- Lack of official registration;
- No demo deadline;
- Lack of information about the owners of the organization;
- The phone number is seen in illegal fraud;
- Negative balance;
- Leverage greater than one in 50;
- Bad reviews;
- False information on the website.
Our Sellfkings review is complete. Clearly the Sellfkings are scammers.
For your safety, we have compiled a blacklist of brokers.
