Fake trading app

Fake trading app shows profits on screen to lure bigger deposits, then blocks withdrawals. The gains are only numbers on a display.

Fake trading app: A fake trading app is a website or app that imitates a share or crypto platform. Your deposits go to scammers, and the profits you see are made up. When you try to withdraw, you are asked for more fees or taxes, or your account is locked.

People are brought in through a WhatsApp group, a friendly stranger, or an advertisement that shows a famous investor or celebrity. A mentor advises you to start small. Your balance rises quickly and you see charts and a "VIP" level. The app is often installed from a link rather than from a store, and its name is similar to a real broker.

Check whether the broker or adviser is listed on the market regulator's own website, which you type yourself. Install trading apps only from official stores and the broker's official site. Be suspicious of guaranteed returns and pressure to deposit more. If you cannot withdraw, stop paying. The Safeavio phone scan can flag apps installed from outside a store. Talk to someone you trust before putting in more money, however good the screen looks.

Tips

• Confirm that the broker is registered on the regulator's official website.
• Install trading apps only from official stores, not from chat links.
• Do not pay extra fees to "unlock" a withdrawal.

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