AdamantFX: reviews of real traders and analysis of trading conditions

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Every day, scammers become more inventive: they try to seduce potential victims with favorable conditions, offer bonuses when replenishing an account, and even order positive reviews about themselves on the Internet. Today we will talk about AdamantFX - a typical sharashka office that pretends to be a decent broker. In the review, we will tell you why cooperation with this company will only lead to a waste of time and money.

What is known about AdamantFX?

When you go to the site adamantfx.io, its cheapness immediately catches your eye. On the site there are only pictures that can be found on any photo stock, and no specifics. It is not surprising that a special service estimated it at only 224 rubles.

During the check, we found that the site of the hero of our review is similar to the sites of such pseudo-brokers as InvestFlow and ProfitAssist. This is how the registration forms for all three scam projects look like:

These scammers have already managed to deceive many gullible traders, as evidenced by the revealing reviews on the Web.

The scammers didn’t think much about their legend: they only indicated that they had been working for more than 10 years, and during this time they managed to acquire thousands of satisfied customers. Naturally, there is no information about the creators or information about the team: scammers do not need problems with law enforcement agencies, so they hide their faces.

The first investor feedback appeared last year, so we decided to find out if AdamantFX really has 10 years of experience. It turned out that the domain was registered in March 2020. This can be considered the date of creation of the scam, since users started commenting on its work in a couple of months.

AdamantFX is a ghost broker: in the “Contacts” section, the address of the office is not even indicated. This is done so that users cannot check the registration of a scam project. You can contact the scammers by phone, via e-mail or using the form on the site.

There are already negative reviews on the Internet about the phone numbers indicated by the cheaters. Calls from them are defined as fraud.

We also analyzed the legal documents of the pseudo-broker and found interesting points in them:

• scammers acknowledge that they have the right to block the trader's account at any time or change the terms of the transaction without prior notice;

• scammers do not just refuse responsibility, but admit that they will commit violations;

• scammers accrue bonuses, but neither they nor the main capital can be withdrawn without working off (judging by the reviews, this is how traders are often deceived).

Overview of permits

We carefully checked all the information that AdamantFX provides, but we did not find a single word about the license. Instead, the fake broker published a list of global regulators in the hope that potential clients would think that they all issued permits to scammers:

We decided to find out if the hero of our review has a license for at least one of the listed regulators. It turned out that the Financial Services Commission of Mauritius and the British Virgin Islands was not aware of the existence of AdamantFX.

The National Futures Association and the UK Financial Conduct Authority are strict regulators who don't issue brokerage permits to just anyone. AdamantFX does not have an NFA license. An organization with a similar name appears in the FCA online registry, but the regulatory authority warns that it does not have permission, so it is dangerous to cooperate with it.

A check in the CySec database showed that the Cypriot regulator also does not know about the existence of a pseudo-broker.

The throwing site is available in Russian, and a lot of negative reviews of our compatriots “walk” on the Web. Since the fake office works with Russian investors, it needs to obtain permission from the Central Bank and become a member of the relevant self-regulatory organization. Charlatans do not comply with the requirements of the law: they have not done any of this.

AdamantFX Trading Offers

Sharashkin's office does not talk about spreads, swaps, commissions and leverage. Instead, scammers “feed” their victims with tales of profitable trading, professional technical support, and opportunities available to both beginners and online trading sharks. Investors are promised:

• a demo account, thanks to which the user has the opportunity to practice trading and evaluate the platform;
• assistance in developing a trading strategy;
• work on the MT4 platform, which supports many useful functions.

AdamantFX offers two categories of accounts: entry-level and professional. Judging by the reviews, the swindlers immediately try to “persuade” the victim to deposit more money, arguing this with a large set of tools and an increased chance of making money.

AdamantFX also promises professional training and the help of a personal manager, but we did not find any videos or e-books about trading. All tutorials are a definition of online trading and a description of the MetaTrader 4 platform.

What do they write in the reviews?

In an attempt to impersonate a reliable broker, the scam orders positive reviews and publishes them on its website. 

However, there are many true reviews on the Web, where AdamantFX is called a scammer and reveals the scheme by which he cheats users.

How does AdamantFX cheat clients?

Scammers take contacts of potential victims from social networks, as well as from illegally purchased databases. Friendly managers offer guaranteed earnings with a top financial intermediary, without specifying that only the “kitchen” will earn money. 

The main deception is done using AnyDesk. As soon as an investor has problems (and this happens for sure), helpful managers offer to install the software on the computer and promise that the support will fix everything as soon as possible. In fact, AnyDesk gives scammers the opportunity to gain access to clients' personal data, their bank cards and trading account. Judging by the reviews, after the technical support “fixes” the problems, the user’s money simply evaporates. If the investor does not install the software, he is accused of violating the rules of cooperation and the account is blocked. Capital, of course, remains in the pockets of scammers.

Our verdict

AdamantFX is a sharashka office without an address and a license. Trust in charlatans will only lead to disappointment, because after replenishing the account with money, you can say goodbye. Stay away from these crooks!