The alleged online broker Otto Forex Global pretends to be a credible platform for online trading. However, there are more and more indications that everything is not running smoothly at Otto Forex Global Limited. More and more traders are reporting telephone terror, rip-offs, and investment fraud at Otto Forex Global Limited. All investors lost their capital invested in Otto Forex Global Limited. Serious doubts are spreading. Meanwhile, many investors of Otto Forex Global Limited are afraid that it is investment fraud. All Otto Forex Global Limited investors are wondering if they have become victims of investment scammers? And what can the investors of Otto Forex Global Limited do if the suspicion of investment fraud is confirmed? How can the investors of Otto Forex Global Limited get their money back? Does it make sense to file a criminal complaint against Otto Forex Global Limited with the police? Where can I get help with investment fraud?
Otto Forex Global Limited: Doubtful promises on the website
What must the baffled investors receive on ottofxtrading.com? "Run by a team of seasoned, successful professionals with over a decade of experience in forex, fintech development, and data security. The premium trading tools and services we offer our clients have led to our rapid growth in the sector, driven by demand for our products." That's just a small portion of the questionable assurances that interested parties can find on Otto Forex Global Limited's website. Not one of these full-bodied promises made by Otto Forex Global Limited has been kept. Regrettably, the questionable business conduct rather makes for unhappy investors and bad experiences!
Otto Forex Global Limited: Hide-and-seek game with the domain entry!
Remarkable for the business practices of the Otto Forex Global Limited makers is that the website does not contain an imprint. Thus, the complete information about the legally responsible operators of the website is missing. If you take a look at the domain data of the website of Otto Forex Global Limited, you will not find any information about the operators. However, one learns that the domain was registered with Name.com, Inc. only on January 15, 2022. The real domain owners are hiding behind the anonymization service Domain Protection Services, Inc.
Otto Forex Global Limited: Who is behind it?
Answering this question will be rather difficult for many investors, as the Otto Forex Global Limited makers do everything to conceal the true circumstances. However, this is nothing unusual. The perpetrators mostly operate several of these websites with the same fraudulent business model. These are created in advance, quickly put online, and just as quickly shut down. The top-level domain is often changed to deceive financial regulators and law enforcement agencies. But who is the operator? There is just no information about it on the website of Otto Forex Global Limited. A worldwide search for Otto Forex Global Limited in the relevant registers yields no results. This makes it clear that this is a pure fantasy product.
Otto Forex Global Limited: The customer acquisition of the investment fraudsters
Here the same procedure can be found again and again: To attract new customers, the offers of Otto Forex Global Limited are advertised in all possible media and channels. In most cases, these recommendations are false information. they upload image films on Youtube or Vimeo, in which interested parties are convinced with false references. Here, supposed celebrities report on their experiences with online trading and cryptocurrencies, often with a misleading reference to the TV show "Die Höhle der Löwen". At the same time, a mostly aggressive affiliate program is started to motivate others to intensively promote Otto Forex Global Limited.
Otto Forex Global Limited: Criminal business practices
As soon as the customer has registered on the trading platform, he receives calls from alleged financial brokers who like to refer to their years of experience and their satisfied customer base. In many cases, however, the makers of this business model are fraudsters, against whom the Federal Criminal Police Office and the Federal Financial Supervisory Authority (BaFin) also warn. Usually, the investors start with a small sum as employment. Beforehand, investors are also often motivated to install remote maintenance software, such as AnyDesk or TeamViewer on their computers, so that assistance can supposedly be provided with the first steps. In many cases, the computer is subsequently manipulated and unwanted transactions are carried out. In the process, the investment fraudsters also frequently gain access to their victims' online banking. What is particularly criminal, however, is when supposed profits are displayed on the trading platform to entice the customer to place further high stakes. In some cases, even small sums are returned to lull investors into a sense of security. Who then does not want to increase the stakes further? But what happens next?
Otto Forex Global Limited: Repayment of money is subject to conditions
Once in, exit is mostly impossible. Rather, the administrators of the investment scammers tie the repayment of the money to further deposits. This is where employees come in, claiming alleged tax debts and commission payments. If these are settled, it would come to the disbursement of the allegedly obtained profits. The perpetrators send the investors self-made tax and commission statements, often decorated with fake coats of arms. These would have to be paid urgently. A clearing with the allegedly obtained profits is never possible. If an investor refuses further deposits, alleged profits are converted by senseless transactions into losses and the customer is maximally damaged. This is not the end of the horror, but investors are permanently confronted with calls from other dubious providers. This indicates that the contact details of the investors are further traded among the investment fraudsters. In the end, a "savior" regularly comes forward, claiming to have uncovered the whole scam. He impresses with his insider knowledge. No wonder, since he is part of the fraud gang. The next rip-off! And of course, the "savior" wants a small fee - in advance!
Otto Forex Global Limited: Scheme of investment fraud?
There is no authorization of the trading platform Otto Forex Global Limited. Otto Forex Global Limited lacks regulation by a recognized European financial regulator, such as the English Financial Conduct Authority (FCA) or the Cyprus Securities and Exchange Commission (CySec), which is frequently used by brokers. Likewise, there is no approval from the Swiss Financial Market Supervisory Authority (finma) or the Financial Market Authority (FMA) of Austria, which is responsible for Switzerland. For this, there is a warning from the FCA dated 24.02.2022. It is also obvious that Otto Forex Global Limited is a scheme of capital investment fraud. All investors harmed by Otto Forex Global Limited are advised to contact an investment fraud lawyer immediately.
Otto Forex Global Limited: Where do the investment fraudsters operate actively?
Unfortunately, the illegal activities of Otto Forex Global Limited are not limited to English-speaking countries. Because Otto Forex Global Limited also addresses German-speaking investors, it is only a matter of time until the defrauded investors of this speaker group also get in touch. Because Otto Forex Global Limited also addresses Chinese-speaking traders, it is only a matter of time until the defrauded investors of this speaker group come forward. A look at the list of regulators is advisable before making any financial commitment to reduce the risk of becoming a victim of investment fraud.
Otto Forex Global Limited: Investors want their money back!
Fortunately, the constellation is not as hopeless as it seems. The aggrieved investors can defend themselves and demand their invested capital back. At the moment it is rather unlikely that the investment fraudsters of Otto Forex Global Limited will be caught in time, but there is reason to hope. The reason for hope is that the funds were channeled through accounts provided by financial institutions with a good reputation. Unfortunately, those responsible for the accounts failed to check the legality of the deposits made by investors, some of which were large and therefore subject to controls. These failures made investment fraud possible in the first place.
Otto Forex Global Limited: They want their money back! How does it work?
With this knowledge, investors would not have engaged in business with Otto Forex Global Limited. Now the only option left for the victims is to try to recover the misappropriated capital. Many investors cannot even imagine that there is any real chance of ever seeing their money back. Probably all of them are now wondering if they can get their money back? Clearly yes! There are numerous legal bases to fall back on. The generic term is "money laundering." When investment fraudsters collect money, the crime of money laundering is committed. Financial institutions must take action against money laundering. This is where one starts with good chances of success. For this, essential questions must be answered. To what destination were the funds embezzled by Otto Forex Global Limited sent? Is there a realistic chance that the investors will get back the money they invested with Otto Forex Global Limited? What actions are required next? A lawyer specializing in investment fraud will be happy to answer such questions thoroughly.
Otto Forex Global Limited: Who can help?
What to do in case of investment fraud? What help in the case of investment fraud can the victims of Otto Forex Global Limited hope for? Otto Forex Global Limited victims can ideally find the help they need from an experienced investment fraud attorney. He or she will be able to take care of your Otto Forex Global Limited case both in terms of the criminal aspects of the investment fraud, as well as the recovery of funds and possible claims for damages. A lawyer for trading can also be considered, because he is also familiar with the methods of fraudulent brokers, such as Otto Forex Global Limited.
Otto Forex Global Limited: Follow the money!
For more than three decades, the internationally active investor protection law firm Resch Rechtsanwälte has been investigating abuses of this kind in the unregulated capital market. The methods of Otto Forex Global Limited are therefore nothing new. Over the decades, Resch Rechtsanwälte has developed a powerful arsenal of tools for tracking down the money that has been taken away and tracing the money flows. In the age of the Internet, it is becoming increasingly difficult to make funds disappear. The faster investors follow the money trail, the greater the chances that they can have their money secured. Now it is important that investors who have been harmed by Otto Forex Global Limited take immediate action.
RESCH Attorneys at Law - Experience in investor protection since 1986
If you have been a victim of Otto Forex Global Limited and want to know if and how you can get your money back, call +49 30 885 9770 or fill out the questionnaire. You will receive a free assessment of your case.
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