Investor Suffered Heavy Losses from Soros FX’s Scam

Daniel Sihombing has been a victim of Soros FX. This is an illegal broker who defrauded investors in the name of another regulated broker PT. Java Global Futures, registered with BAPPEBTI and the Indonesian Ministry of Trade and located at APL Tower Central Park Lt. 25 Podomoro City, Grogol, West Jakarta.

Soros FXs agent approached Mr. Daniel and gained his trust by claiming that their company is closely associated with PT. Java Global Futures, while boasting about their “extremely flexible trading system that allows swift withdrawal at anytime.” This appealed to Mr. Daniel, as he was keen to learn more about investment and trading on the long run. But one and a half months after he started trading at Soros FX, Mr. Daniel was suddenly informed by the broker on June 8th, 2019 that he had lost all of the 20 million Rupiahs in his account.

Yet according to Soros FXs weekly analysis and trading guide, the market after a short decline, should have been rather steady. As a client, Mr. Daniel felt much disadvantaged throughout his investment at Soros FX, who offered no explanation or solution for his loss of 20 million Rupiahs other than telling him “ you have lost 100% of your account balance and your transaction has ended.”

Soros FX informed Mr. Daniel he had lost all of his deposits

Not long before the incidence, Soros FX‘s agent also demanded Mr. Daniel to deposit 5 million Rupiahs “ for the security of his assets”. Mr. Daniel didn’t have enough money back then but was pushed by the agent to borrow money from his relatives to cover up the expense. And just a few days later he lost all his money deposited at the platform. What‘s more, Mr. Daniel wasn’t the only victim as several other investors of Soros FX were also told to make the 5-million-Rupiah deposits, before losing their entire account balance to the broker.

Mr. Daniels receipt for the deposits

Also, Mr. Daniel had previously made 2 million Rupiahs of profit during his investment, but it took 6 days for him to withdraw the profit, which was much longer than the broker had promised in the service contract. After all these irregularities, Mr. Daniel noticed that the Soros FX‘s agent had blocked him on WhatsApp, and he later found out this guy no longer works for PT. Java Global Future, which the crook claimed to associate with. Moreover, other Soros FX’s “agents” like him have also been assuming fake identities from established investment firms to swindle investors seeking to profit through trading.

Mr. Daniel also provided some other evidences, such as screenshot of the conversation with the Soros FX who asked Mr. Daniel to meet him near the location of PT. Java Global Future.

Mr. Daniels conversation with the agent of Soros FX

Through further investigation, WikiFX team also found that the broker does not have an official website; we can only find Soros FXs page on Facebook and Twitter. However, both of these social media accounts seem to be inactive, with few followers and updates.

According to the Forex Peace Army website, Soros FXs website is closed and the company seems to be out of business. Further information and a detail profile of the broker is thus unavailable. WikiFX reminds all investors to stay away from Soros FX, as well as IBs or agents who claims suspicious connections with PT. Java Global Future, for this is most certainly a fraud.