Investment Trap: False Advertising and Counterfeit Platforms

It is reported that in September last year, this investor saw an investment advertisement on Facebook about "Davidson Kempner Capital Management Company (DKCM MYS-C)" and was attracted to it.

After seeing the advertisement, the investor followed the instructions and downloaded the A-Trade application. Investors are advised to ensure sufficient funds in their accounts in order to purchase the required stock units and trade according to the instructions provided by the platform.

From September to November 2024, he conducted 30 transactions through the platform, transferring a total of over RM5.9 million (approximately RMB 9.6 million) in stages to 8 different company accounts.

However, when he tried to withdraw the money, he was unsuccessful, which made him start to doubt and realize that he might have been deceived. He then reported the case to the Selangor Region Police Department (IPD) on January 8, 2025.

The A-Trade platform has been included in the warning list by the Belgian FSMA

Further investigation has revealed serious issues with the A-Trade platform. The platform claims to provide financial trading services such as foreign exchange, stock indices, commodities, and cryptocurrencies, but its website does not publicly disclose the company name, actual address, or any regulatory information that can be verified by users.

However, as early as June 5, 2023, the Belgian Financial Services Market Authority (FSMA) had listed the platform on a warning list, confirming that the platform was providing financial services without authorization.

That is to say, A-Trade platform is a unregulated black platform.