PearlFX - FCA warns investors against cloning

The supposed online broker PearlFX sells itself as a trustworthy platform for automated online trading with cryptocurrencies. However, there are increasing indications that unacceptable conditions prevail at PearlFX. Reports from traders about PearlFX are piling up, talking about telephone terror, rip-offs and investment fraud. All have lost their capital invested with PearlFX. More and more doubts are spreading. In the meantime, many PearlFX investors have the feeling that it is an investment scam. All PearlFX investors are asking themselves whether they have become victims of investment fraudsters? And what can PearlFX investors do if the suspicion of investment fraud is substantiated? Will PearlFX investors get their money back? Does it make sense to file a criminal complaint against PearlFX with the police? What help is available in the case of investment fraud?


PearlFX: Doubtful promises
What do surprised visitors read on "PearlFX - a company that successfully operates and develops on the market...PearlFX is a company that successfully operates and develops on the market since 2009...More than 400 assets will help you diversify your trading and make a profit from one terminal...Currency pairs, stocks, commodities, indices - all this will give you the opportunity to be an active market participant every day". This is just a small example of the suspect claims that interested parties will find on PearlFX's website. Not a single one of these given assurances by PearlFX has been kept. Disappointingly, the dubious business conduct rather makes for disappointed investors and bad experiences!


PearlFX: Hide-and-seek game with the domain entry!
Remarkable for the business practices of the PearlFX 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 PearlFX website, you will not find any information about the operators. However, one learns that the domain was only registered with Hosting Concepts B.V. on 11.03.2021. The real domain owners are hiding behind the anonymisation service Whois Privacy Protection Foundation.


PearlFX: Who is behind it?
Many investors will find it rather difficult to answer this question, as the PearlFX makers do everything they can to conceal the true circumstances. However, this is nothing unusual. The perpetrators usually operate several of these websites with the same fraudulent business model. These are created in advance, quickly put on the net and just as quickly shut down. The top-level domain is often changed to deceive the financial supervisory and law enforcement authorities. But who is the operator? There is scant information about this on the PearlFX website. No company is listed, only the two business addresses Klarabergsviadukten 70, 111 64 Stockholm, SWEDEN and International Business Center, Presnenskaya emb. 10, Moscow, 123317 RUSSIA, under which the makers of PearlFX cannot be found. In addition, there is the obligatory support e-mail address and the two telephone numbers +74951452893 for Kazakhstan and +461835056 for Sweden. A worldwide search for PearlFX in the relevant registers leads to no results. This makes it clear that this is a pure fantasy product.


PearlFX: The customer acquisition of the investment fraudsters
The same procedure can be found here again and again: In order to attract investors, PearlFX recommendations are advertised in all available media and channels. Often enough, these offers are false promises. In addition, they upload promotional films on Youtube or Vimeo in which interested investors 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". With the same intention, an affiliate programme is often started to motivate others to beat the advertising drum for PearlFX.


PearlFX: 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. Investors usually start with a small amount of money. Beforehand, the investors are often motivated to install remote maintenance software such as AnyDesk or TeamViewer on their computers so that they can supposedly receive help with the first steps. In many cases, the computer is manipulated afterwards and unwanted transactions are carried out. In the process, the investment fraudsters often also gain access to their victims' online banking. What is particularly criminal, however, is when supposed profits are displayed on the trading platform in order to entice the customer to place further high stakes. Sometimes even small sums are paid back to lull investors into a sense of security. Who then does not want to increase the stakes further? But what happens next?


PearlFX: Repayment of money is subject to conditions
Once in, it is usually impossible to get out. Instead, the administrators of the investment scams 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, the alleged profits are paid out. The perpetrators send investors self-made tax and commission statements, often decorated with fake coats of arms. These would have to be paid urgently. It is never possible to offset them against the alleged profits. If an investor refuses to make further deposits, supposed profits are turned into losses through senseless transactions and the client is damaged to the maximum. The horror does not end there, but investors are permanently confronted with calls from other dubious providers. This indicates that the investors' contact details are traded on among the investment fraudsters. In the end, a "saviour" regularly calls 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 department! And of course the "saviour" also wants a small fee - in advance!


PearlFX: Scheme of investment fraud?
There is no authorisation of the online broker PearlFX. PearlFX lacks regulation by a recognised European financial regulator, such as the English Financial Conduct Authority (FCA) or the Cyprus Securities and Exchange Commission (CySec), which is often 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. Instead, there is a warning from the FCA dated 09.09.2021. It is easy to overlook the fact that PearlFX is a scheme of capital investment fraud. All traders harmed by PearlFX should be advised to contact an investment fraud lawyer immediately.


PearlFX: Where are the fraudsters active?
The illegal activities of PearlFX are unfortunately not limited to the English-speaking countries. Because PearlFX also addresses German-speaking investors, it is only a matter of time before the defrauded investors of this speaker group also come forward. A look at the list of regulators is recommended before any financial commitment in order to reduce the risk of becoming a victim of investment fraud.


PearlFX: Investors want their money back!
The situation is by no means as hopeless as it appears. Victims can defend themselves and reclaim their invested money. At the moment, it is not to be expected that the investment fraudsters of PearlFX will be seized in the near future, but nevertheless there is reason for hope. The reason for this is the fact that the money transactions were carried out via accounts provided by banks with a good reputation. Their managers demonstrably neglected to check the investors' deposits, some of which were large and therefore subject to controls, and their onward transfer for illegality. Such negligence enabled the investment fraudsters to carry out their criminal activities in the first place.


PearlFX: They want their money back! How does that work?
Knowing this, investors would never have entered into a business relationship with PearlFX. Now the only alternative left for the defrauded is to try to recover the invested capital. Many investors cannot even imagine that there is a real chance of ever seeing their money again. Probably all of them are now asking themselves whether 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 offence of money laundering has been committed. Financial institutions are obliged to take action against money laundering. This is where one starts with good chances of success. Relevant points should be clarified in advance. Where did the funds moved by PearlFX end up? Is there a chance that the defrauded investors will get back the money they invested with PearlFX? What actions are necessary next? A lawyer specialised in investment fraud will be happy to answer such questions thoroughly.


PearlFX: Who can help?
What to do in case of investment fraud? What help can victims of PearlFX hope for in the case of investment fraud? Victims of PearlFX will ideally find the help they need from an experienced investment fraud lawyer. He will be able to take care of your case with PearlFX both in terms of the criminal aspects of investment fraud, as well as the recovery of funds and possible claims for damages. A lawyer for trading also comes into question, because he is also familiar with the methods of fraudulent brokers such as PearlFX.


PearlFX: Follow the money!
The internationally active investor protection law firm Resch Rechtsanwälte has been investigating abuses of this kind on the gray capital market for over 30 years. The methods of PearlFX are therefore nothing new. Over the years, Resch Rechtsanwälte has developed an extensive arsenal of instruments for tracking down the retained funds and tracing the money flows. In times of the internet, it is becoming increasingly difficult to actually make funds disappear. The faster investors follow the money trail, the greater the chances that they will get back the capital they have invested. Above all, it is important that investors harmed by PearlFX act without delay.


RESCH Rechtsanwälte - Experience in investor protection since 1986
If you have been a victim of PearlFX 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.