A new day and new investor warnings from Forex and CFD broker scams. On November 10, 2020, the UK FCA issued an investor warning against MarginElite (www.marginelite.com), among others. This is a typical white-label scam that is actually easy to recognize. The Russian Mir processes credit and debit card payments for the scam.
On the MarginElite scam’s website, you will search in vain for a legal entity or individuals who act as operators. Not even an offshore company. In the confirmation email, however, the Estonian Blossom Capitals OÜ (companies register data) is presented as the scam’s operating entity. The company’s sole director is Vitalii Belmas. And of course, the scam has implemented an affiliate system and pays a commission of $600 for each referred trader (than for each victim).
Blossom Capitals officially operates as an Internet marketing company (www.blossomcapitalsou.com) based in Tallinn, Estonia. The scam might be thus a kind of additional income. Fortunately, it’s easy to expose the scam operators. Feel free to contact them in case of any issues with the MarginElite scam.
Actually no consumers or small investors should fall for so obvious scams. Anyone who invests online should apply double and triple diligence anyway. In doing so, scams like MarginElite expose themselves to potential investors.
