When Trading Turns Tragic

Beware of Fake High-Return Trading Platforms Showing Unreal Profits

It starts with a message, an ad, or a friend’s “success story.”

"Earn 10% profit every week through our AI-based trading app!"
"Withdraw anytime — guaranteed returns!"

You sign up. The dashboard looks sleek. You deposit ₹10,000, and within days your account shows ₹12,000. You even make a small withdrawal — it works! Encouraged, you invest more.

Then suddenly, the app stops working. Your account is locked. Customer support disappears.

You’ve been scammed.

What Is the Fake Trading Platform Scam?

Fraudsters create online trading platforms or mobile apps that simulate real trading environments - complete with charts, dashboards, and live market data.

They promise unrealistically high returns, often under the guise of:

• Algorithmic or AI-based trading,

• Forex or crypto trading,

• Commodity or derivatives schemes, or

• Global investment opportunities.

Initially, they allow small profits and quick withdrawals to build trust. Once you invest a larger sum, the platform either blocks your account, stops withdrawals, or vanishes entirely.

How These Scams Work

1. Lure: Attractive social media ads or WhatsApp messages promising high returns.

2. Trust-building: Small withdrawals succeed; fake profits appear in your account.

3. Hook: You’re convinced to “top up” or “upgrade to a premium plan.”

4. The Crash: Withdrawals fail, your balance disappears, and so do the scammers.

These scams often use fake customer care numbers, cloned websites, and even fake testimonials to appear legitimate.

Real-Life Cases

• A case emerged recently where a fake trading platform laundered over Rs 800 Crores from Indian investors. https://timesofindia.indiatimes.com/india/illegal-trading-platform-made-rs-800cr-profit-in-india-in-just-9-months/articleshow/124300311.cms

• Many scams are promoted through YouTube influencers and Telegram groups offering “limited period trading access.”

• Once users invested heavily, they are told to “pay taxes or verification fees” to withdraw - before being locked out entirely.

How to Protect Yourself

• Be skeptical of guaranteed or fixed returns - markets don’t work that way.

• Verify the trading platform or intermediary on SEBI’s official list:
  SEBI | Recognised Intermediaries

• Avoid trading platforms that are not registered in India or ask for payments via personal accounts or crypto wallets.

• Never share OTPs, login credentials, or remote access (through desktop sharing apps) with anyone claiming to “help you trade.”

• Check reviews and app permissions before downloading any trading app.

• Beware of unsolicited investment groups on WhatsApp, Telegram, or Instagram.

• Report such frauds to cybercrime.gov.in and alert your bank immediately if you’ve transferred funds.

Final Word: Easy Profits Don’t Exist-Only Easy Prey Does

Scammers know one thing: greed and urgency cloud good judgment.
No legitimate trading platform can guarantee consistent profits or instant withdrawals.

So before you invest through any “too-good-to-be-true” app or platform, remember:
Pause. Think. Verify.

Be an Atmanirbhar Investor, because in investing, patience builds wealth - shortcut builds losses.