What is a London gold scam?
London gold is what we call spot gold. Because of its 24-hour trading, two-way, T+0, margin trading and other advantages, it has been built into a London gold scam by related scammers. In the Loco-London gold scam, when you invest in trading, you may face huge transaction costs, make a virtual bet, not only make a profit stop loss, but also make a regular bill. These scams make less and less money in your account until you finally lose money.
The London Gold Exchange is popular mainly because it deals in gold stored in Britain. These gold with purity as high as 99.5% are stored in 400 ounces in the underground vault in London, with a long history and a huge quantity. Under the endorsement of this batch of physical gold, London gold trading came into being. On the surface, in fact, London gold trading is extremely normal. The reason why it developed into a scam is because domestic transactions are not allowed and the law does not protect it. As a result, criminals began to compile wealth dreams and operate scams here. The general scam is as follows:
On the 1 platform, the scammer set up an APP and a webpage. This website has nothing to do with normal London gold trading under actual circumstances. It is possible that you made a lot of money in the transaction and found that it was all virtual currency. When I finally wanted to withdraw cash, I suddenly found that my principal was gone and transferred to their private account.
2 induced deposits. In this case, scammers will frequently declare the benefits of speculating in London gold and guide customers to save money. Under normal circumstances, investors who don't understand will play thousands of dollars first. At this time, the scammer will deliberately modify the London gold market in the software to make you earn some money. When you come with greed and invest a lot of money, nothing can be answered by WeChat or telephone at this time.
3 commission, in this case, because they earn commissions, many will encourage customers to speculate more, try to brush their own bills, and then get a lot of commissions from customers. At the same time, due to too frequent operations, these customers' accounts will explode in a few days, and there is not much money left, so these scammers will abandon customers.
In the process of trading, in fact, many investors don't know much about high-risk products such as London gold, so they often lose money because of poor operation. At this time, the liar will guide the customer to buy the teacher's course and let the teacher take the trader. At this time, customers think that they can get wealth advice after paying the money. In fact, the teacher is a liar.
5 induce losses, because most customers don't understand at first, so some brokers will say that there will be non-agricultural news soon, or the international political situation will change, and there will be safe-haven funds to push up the price of gold. As long as the customer places an order, the scammer will immediately change the short-term trend, so that the market will rise or fall instantly, and then it will cause the customers who open positions in a certain direction to explode instantly. (The customer's opening positions are all fake trading orders, which have not been put on the international market, so the customer's opening positions have reason to take all the customer's money, saying that the market has exploded. )
6 In the second harvest, some customers decided not to operate Loco-London gold for the second time after divestment because of the large losses after the first operation. At this time, some scammers often take the initiative to help customers analyze, and then stand in the customer's position to ensure how to earn back, and fool customers into adding positions to continue speculation. Many people continue to add positions under the last glimmer of hope because of losses, and the result continues to lose money.
To sum up, these six routines are often not a single one. After we enter the London gold trading scam, we may face one or more of the above routines. For these scams, we can only be wary of ourselves. There is no white pie in the sky. If it is so easy to make money by speculating in London gold, there is no need for these scammers to cheat you hundreds of thousands.