Sellfkings Review - Scams in the Forex market
The online broker Sellfkings, operating in the Russian Federation, is a scammer with an unclean notoriety.
If we get to the official website of Sellfkings - Sellfkings.com, we will find out that this company provides brokerage services for working on the Forex market in the Russian Federation. In addition, Sellfkings provides programs for trading operations.
We studied the Sellfkings website, got acquainted with the terms of action, tried to get demo access to the software, investigated the existence of official papers, the region of registration of the organization.
With the help of the information received, we will find out: Sellfkings - a divorce or not?
In addition, we will explain to you how not to fall for the bait of criminals, about their work algorithms. We will give you the information you need to keep your finances safe.
Sellfkings is based in an offshore country
The first call indicating that Sellfkings.com is criminals is the country of residence. According to the documents, the company is registered in the Marshall Islands, which is already suspicious, since Sellfkings.com operates in Russia. Offshore states attract the attention of fraudsters due to the lack of legislation and regulation.
Also, this country does not have the authority to trade on the Forex market.
In addition, when our staff tried to find the physical address, mentions of the owners and management of Sellfkings.com, they could not find anything.
This already shows that Sellfkings.com is an illegal Internet broker, working with which will result in significant financial losses.
No data found for Sellfkings directors
After reviewing the website, we have not been able to find truthful information about the leadership of the Sellfkings organization. No physical address, no phone numbers or other means of contact.
We think that this means that the leaders are trying to hide data about themselves in order to hide from the answer for their crimes. If one of the Sellfkings employees can be exposed, then everything will end there, and the actual leaders of the shadow company will remain free with the money.
Sellfkings, website - Sellfkings.com, is less than 30 days old
The official website of Sellfkings talks about many years of experience in Forex.
The most common method for checking any official website is to obtain domain data. Most often, they record the age of the domain, data for the connection of its owner.
In this specific case, the Sellfkings.com domain name is less than 30 days old, and all data about the individual who owns it is hidden. Another proof that Sellfkings management is trying to keep its incognito.
This desire can be supported, but not in those cases when it comes to a company acting as an intermediary between the user and Forex.
In addition to this, Sellfkings.com themselves assure their potential users that they have been operating effectively in the Forex market for many years.
Sellfkings does not have a demo period
It is a normal practice for Internet brokers to give traders a demo version of their services in order for them to familiarize themselves with the interface, to try out the possibilities in Forex operations with a fake currency.
Unfortunately, on the official website of Sellfkings, we could not find data on the test period, the ability to try out the programs.
Probably the director of Sellfkings is most likely not going to give users test access to the service, since one of them is able to suspect something was wrong.
Broker Sellfkings.com works with a negative account
Registered organizations that operate on Forex do not use a negative account in their activities. In accordance with the laws, a broker user cannot spend more than what is currently on his balance sheet. In cases where the balance still goes negative, the loan will have to be repaid not by the trader, but by the company that offered its services.
Therefore, registered Internet brokers do not use a negative account in their activities.
However, Sellfkings gives traders a job with a negative balance, that is, on credit.
Why is this needed?
In order to drive a client on credit and start a debt from him. This is one of the most common methods of deception used by scammers.
If this happened, you need to know that fraudsters do not have the opportunity to recover finances under the law of the Russian Federation. Absolutely all methods of pressure on customers are illegal. The maximum that scammers are able to do is to disturb with calls, send letters with threats.
It is impossible to cooperate with Sellfkings, since all agreements will result in losses.
Sellfkings.com operates with a credit ratio of one to four hundred or more
It is already obvious that Sellfkings are scammers. However, let us point out one fact, namely the existence of an excessively large credit ratio.
The credit ratio is the ratio of the finances of users and brokers when making a trading operation. Leverage allows you to close large trades for traders who do not have access to the appropriate funds.
In order to protect customers in the Forex market, in civilized countries, the current legislation requires the use of a credit ratio with the highest ratio of 1 to 30, in exceptional cases 50.
At the same time, Sellfkings applies a leverage of 1 to four hundred for operations in the Forex financial market.
Such an attitude is allowed in Switzerland, since the organizations registered in this power enjoy considerable confidence. However, Sellfkings is not registered in this state.
In fact, Sellfkings cannot operate in the Forex market with such leverage, due to the high risk for clients. Accordingly, this is done solely to force the client to invest as much personal funds as possible, but also to drive him into debt.
Sellfkings Regional Branches
It is considered solid for a financial company to have local representative offices in civilized states, even if the activity takes place exclusively in the Russian Federation. That is why Sellfkings reports that in addition to many awards, they have local branches in the UK, Australia and other civilized regions, and in addition about thousands of competent employees.
Checking the existence of these offices is elementary. After all, specialized structures are known that regulate the activities of Internet brokers. In Britain it is FCA, and for example Australia it is ASIC.
That is, the official company is required to have supporting papers from these or other organizations that will confirm their authorized right to provide Forex trading services, indicate the level of responsibility.
And yet, after analyzing industry websites, we could 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 therefore, in order to gain access, you must immediately pay the minimum payment to Sellfkings scammers. Also, creating a personal account of Sellfkings.com is possible only when passing identity verification.
This means that Sellfkings requires users to submit information such as:
- Information about an individual (passport, driver's license, etc.);
- Information about the permanent place of residence (scans of utility bills);
- Information about qualifications, length of service, place of work.
In addition, with the first payment, fraudsters can gain access to bank account data.
Combined, this information can allow scammers to put credit on a gullible trader, or carry out other illegal transactions.
Since you need to transfer your confidential information to register on the Sellfkings.com website, we never got access to the Sellfkings personal account or Forex programs.
Reviews about Sellfkings
An extremely important step in exposing Sellfkings is the analysis of traders' feedback.
A detailed analysis of the issue in search engines allowed us to obtain the following information:
- Most of the reviews and mentions of Sellfkings online are lies. These are the same positive reviews and custom-type comments;
- All real mentions and comments about Sellfkings are negative. We have been unable to find credible testimonials and references from Sellfkings.com customers that speak of serious income, performance.
- Negative references are related to illegal activities, theft of investments, special creation of debt.
Therefore, real reviews about Sellfkings say that this broker is a scammer.
Sellfkings contact details and papers
After analyzing the information on Sellfkings.com, our staff saw a lot of dubious digital official papers that can be easily made using a graphic editor. They are not confirmed by official firms, which means they cannot be trusted.
If the broker is not associated with regulatory companies, then 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 you can take money from him.
While studying the trade agreement on the Sellfkings website, our experts did not find specific information about the withdrawal methods. At the same time, our experts found a description of fines for the lack of activity of a personal account, but did not find data on sizes. Since swindlers do not operate in a legal field, it is impossible to protest these fines.
Therefore, even if the client has ended cooperation with Sellfkings, they can disturb with calls and write letters demanding to pay a fine.
How does Sellfkings work?
The user search method used by Sellfkings also raises suspicions.
For promotion, fake social media accounts are used, in which fake users talk about how they instantly managed to get rich by trading on the Forex market with the help of Sellfkings. Non-existent people flaunt expensive cars and clothes, resort trips and other indicators of a rich life.
Bots promise a rapid increase in profits, for which you do not need to learn or make a lot of effort.
If a client gets in touch with them, Sellfkings managers report the possibility of instant profit, as well as some unique features of their services that allow you to immediately get a solid income.
Further, various manipulations are used, making it possible to receive maximum deposits from the client. For example, a fake profit may be drawn to the user in order to inspire them to transfer more funds.
If work on the Forex financial market turns out to be unprofitable, the company representative will recommend transferring more in order to cover the losses.
Sellfkings employees work on scripts that are developed by skilled deceivers. Fraudsters analyze information about a trader in order to act on weaknesses and get even more deposits.
As a result, it all comes down to one of two options:
- If you are going to get finance before you find yourself in loans, you will be fined, your balance will be closed, and everything will be done to force you to pay more;
- When you give the opportunity to criminals to drive the balance into a loan, there will be threats, scammers will start extorting to repay a fictitious loan.
Another way to make a profit for Sellfkings may be the transfer of your personal data to third parties. Most likely, after that, detailed information about you will actually be bought for a modest amount on some anonymous service on the dark web.
It is likely that as a result of this, all sorts of bandits, managers, etc. will begin to call you. In addition, you can wait for messages from Sellfkings.com associates who will begin to offer a "refund" of lost deposits, of course for a fee.
Since Sellfkings does not operate in a regulated field and maintains anonymity, they cannot be forced to respond under the current laws in the Russian Federation. The heads of the criminal organization skillfully hide and in the best case, the police will be able to capture one of the "workers".
Should you trust Sellfkings?
It is forbidden!
Only if you plan to give money to scammers, then spend it on charity.
Let's briefly outline the evidence that Sellfkings are scammers:
- Lack of official registration;
- No trial period;
- There is no information about the owners of the organization;
- Phone number found in shady operations;
- Negative balance;
- Credit ratio over 1 to 50;
- Bad reviews;
- False information on the official website.
A detailed review of Sellfkings is over. Obviously the Sellfkings are criminals.