The Spanish regulator CNMV has recently issued an investor warning against CityFX Capital (www.cityfxcapital.com). The scam is allegedly operated by Turtle Capital Ltd, which is registered in the Marshall Islands. As an illegal payment processor, we have discovered ER Expert Solutions LLC in the United States, which processes potential victims’ deposits through its account at JP Morgan Chase Bank. The involvement of a US payment processor is astonishing.
The CityFX Capital scam is very poorly done. Actually, no victims should fall for it. However, we know that boiler room agents can be persuasive in their calls. Time and time again, the well-trained agents (the actual scammers) manage to lure victims out of money with promises and lies. Stay far away from CityFX Capital and other scams.