Sellfkings are scammers, don't trust them!

Scams in the Forex market - Sellfkings Paul Roberts Visitors: 190

Online broker Sellfkings, operating in Russia, is a swindler with spoiled fame.

When we get to the official website of Sellfkings - Sellfkings.com, we learn that the organization under study provides intermediary services for trading on the Forex market in the Russian Federation. Sellfkings also offers programs for trading activities.
Our specialists examined the Sellfkings website, got acquainted with the terms of operations, made a trip to get at least a demo access to the services, studied the availability of documents, the place of registration of the organization.
With the help of this information, we will find out: Is Sellfkings a scam or not?
In addition, we will explain to you how not to fall into the networks of scammers, about their methods of operation. We will provide you with the information you need to keep your finances safe.

Sellfkings is located offshore

A serious sign that says that Sellfkings are scammers is the state of registration. According to the documents, the organization is registered in the Republic of the Marshall Islands, which is already suspicious, since the company operates on the territory of the Russian Federation. Offshore countries are popular with criminals due to the lack of laws and oversight.
In addition, this state does not have the authority to operate in the Forex market.
Moreover, when we tried to find the address, information about the owners and directors of Sellfkings, we could not find anything.
This already shows that Sellfkings is a fake online broker, interaction with which will result in large financial losses.

No Sellfkings.com director data found

Having studied the official website, our experts have not been able to find any credible information about the organizers of the organization Sellfkings.com. No addresses, no phone numbers or other means of contact.
Basically, this means that the actual leaders try to hide information about themselves in order to avoid responsibility for their actions. If you manage to catch one of the Sellfkings employees, then everything will end there, and the organizers of the criminal firm will remain free with the money.

Sellfkings, official website - Sellfkings, is less than 30 days old

Sellfkings, official website - Sellfkings, is less than 30 days old

The Sellfkings website speaks of serious forex experience.
The most common way to check a website is to obtain data about a domain name. Most often, they fix the validity period of the domain, information for contacting the owner.
In our case, the Sellfkings.com domain is less than 30 days old, and all information about the person who owns it is classified. Another evidence that the director of Sellfkings is trying to keep incognito.
This desire can be understood, but not when it comes to a company acting as an intermediary between the client and the Forex market.
In addition to this, Sellfkings themselves assure their users that they have been successfully working in Forex for many years.

Sellfkings.com does not have a demo period

It is a common practice for online brokers to provide users with a test version of the software so that they get acquainted with the interface, try their hand at playing Forex with virtual money.
Unfortunately, on the site Sellfkings.com, we did not find data on the test period, the opportunity to try the software.
We assume that the management of Sellfkings most likely does not plan to give users test access to their software, as some of them may begin to suspect a scam.

Online broker Sellfkings works with a negative balance

Official firms that operate in the Forex financial market do not use a negative account in their work. By law, an Internet broker trader is not able to spend more now is on the balance sheet. In cases where the balance still goes into a negative value, the loan will have to be repaid not by the client, but by the company that provided its services.
Because of this, registered online brokers do not use a negative balance in their work.
And yet, Sellfkings.com provides its users with Forex transactions with a negative balance, that is, in debt.
Why is this needed?
In order to drive a client into a loan and extort a loan. This is one of the most common methods of deception used by financial scammers.
If this has already happened, you need to know that criminals do not have the opportunity to receive investments under Russian law. Any methods of pressure on customers are illegal. The most that scammers can do is call, send messages with demands.
It is impossible to cooperate with Sellfkings, since all attempts to negotiate will result in new expenses.

Sellfkings operates with a credit ratio of 1 to 400 or more

Already, it is clear that the Sellfkings are bandits. Nevertheless, let's pay attention to another nuance, namely the presence of an excessively high credit leverage.
Leverage is the ratio of the money of traders and online brokers at the conclusion of a trading operation. Leverage allows large trading operations for clients who do not have the appropriate funds freely available.
In order to protect clients in the Forex market, in developed regions, legislation provides for the use of leverage with a maximum ratio of one to thirty, in rare cases fifty.
At the same time, Sellfkings uses a leverage of 1 to four hundred for operations on the Forex market.
This attitude is legalized in Switzerland, since companies registered in this state enjoy great confidence. However, Sellfkings is not issued there.
In fact, Sellfkings cannot operate in the Forex financial market with such leverage, due to the high risk for clients. Accordingly, this is done only to force the user not only to give as much money as possible, but also to drag him into loans.

Local divisions of Sellfkings

It is considered prestigious for any company to have local offices in civilized countries, even if the work is carried out only on the territory of the Russian Federation. So Sellfkings reports that in addition to many awards, they have local divisions in Britain, Australia and other developed countries, as well as about thousands of experienced workers.
It is easy to check the availability of these offices. After all, there are industry structures that control the work of brokers. In England it's FCA, in Australia it's ASIC.
Accordingly, a legal organization must have permits from these or other organizations that will prove their ability to provide services for Forex trading operations, determine the degree of responsibility.
Nevertheless, after analyzing the specialized official sites, we did not find them. This once again reinforces our suspicions.

To register on Sellfkings.com, you must transfer personal data

As we said earlier, Sellfkings does not have a trial period, and therefore, in order to gain access, you must immediately pay the minimum payment to the bandits of Sellfkings. In addition, it is possible to create a Sellfkings.com personal account only after passing the client verification.
This means that Sellfkings requires its users to submit data such as:

  1. • Data about an individual;
  2. • Information about the permanent place of residence (scans of utility bills);
  3. • Information about qualifications, place of work, length of service.

In addition, during the initial transfer, the bandits are able to access bank account data.
Combined, this data can allow scammers to smuggle a loan on a trusting client or carry out other criminal frauds.
Since you need to transfer your personal information to register on the Sellfkings.com website, our specialists did not get access to the Sellfkings personal account and software for working on the Forex market.

Real reviews about Sellfkings

An important step in exposing Sellfkings is the analysis of traders' feedback.
The study of issuance in search engines allowed us to obtain the following information:

In line with this, real Sellfkings reviews suggest that the online broker in question is a culprit.

Sellfkings contact details and papers

Having studied the information on Sellfkings.com, our staff found a lot of dubious digital papers that can be easily made using a graphic editor. They are not confirmed by official organizations, which means they cannot be trusted.
If an online broker is not associated with regulatory firms, then its traders simply have nowhere to turn for help.
On the "Contacts" page, our experts identified a phone number. It turned out that it had already been used by an illegal internet 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 Forex online broker? Make sure that you can take away investments from him.
After analyzing the client agreement on the official website of Sellfkings, our specialists did not reveal any clear information about the methods of withdrawing funds. In addition, our employees found a mention of fees for account inactivity, but did not find data about their size. Since the scammers do not operate in the legal field, it is impossible to protest these fees.
Therefore, even if a trader has finished working with Sellfkings, they may start calling and writing messages demanding to pay a fine.

How does Sellfkings work?

The method of finding customers that Sellfkings uses also raises concerns.
For advertising, fake social media profiles are used, in which non-existent bloggers broadcast about how they instantly managed to get rich by making Forex transactions through Sellfkings. Ad accounts showcase expensive cars and jewelry, trips to resorts, and other signs of a prosperous life.
They guarantee instant earnings, for which you do not need to study or put in a lot of effort.
When a potential user gets in touch with criminals, Sellfkings employees confirm the possibility of rapid profits, as well as the unique features of their software, which will make it possible to immediately earn a large profit.
Then various manipulations are put into operation, allowing you to get the maximum number of deposits from the user. For example, the user may be drawn with a small profit to inspire them to invest even more.
When work on the Forex financial market turns out to be in the red, a representative of the organization will offer to invest more in order to compensate for the minus.
Sellfkings employees act according to scripts developed by skilled deceivers. Fraudsters analyze user information in order to act on weaknesses and lure out even more finances.

As a result, everything will lead to one of the options:

  1. • If you decide to withdraw your investment before you are in the red, you will be fined, your investment will be frozen, and everything will be done to force you to transfer more;
  2. • When you give the opportunity to scammers to drive the account on credit, threats will go, scammers will begin to demand the return of a fake loan.

Another way to generate income for Sellfkings can be to sell your personal data to third parties. We think that, as a result, information about you will be possible to obtain for a modest amount of money on some anonymous community on the shadow Internet.
Surely, as a result of this, various bandits, sales managers, etc. will begin to spam you more often. It is also worth waiting for letters from Sellfkings accomplices who will begin to offer a "return" of lost finances, of course for a fee.
Since Sellfkings does not operate in a regulated field and remains anonymous, they cannot be forced to respond under the current legislation in the Russian Federation. The owners of the criminal company are diligently hiding and, at best, the legitimate authorities will be able to capture one of the "managers".

Can Sellfkings be trusted?

Not!
If you plan to give finances to criminals, then it is better to spend them on a good cause.
Let us briefly list the facts indicating that Sellfkings are scammers:

  1. • No official registration;
  2. • Lack of demo term;
  3. • Lack of information about the owners of the organization;
  4. • Phone number seen in illegal schemes;
  5. • Negative balance;
  6. • Credit ratio is more than 1 to fifty;
  7. • Negative reviews;
  8. • False information on the site.

This completes the Sellfkings review. Clearly Sellfkings are scammers.

 


Paul Roberts
Paul Roberts

Paul Roberts 51 years old Born in Edinburgh. Married. Studied at University of Oxford, Department of Public Policy and Social Work. Graduated in 1997. Works at Standard Life Aberdeen plc.

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