Investor Warning – Illegal broker ChamberFX with payment facilitator iPayTotal

Investor warning ChamberFX with iPayTotal
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We have recently received several complaints from victims of the ChamberFX (www.chamberfx.com) broker scam. According to its website, the scam is allegedly operated by Chamber (Holdings) Pty Ltd in Australia, which has a license from ASIC for Australia. We doubt that this company is actually the operator of ChamberFX but rather a clone. In the terms, UK is stated as applicable law, where this clone might be operated. As a payment processor, we have discovered iPayTotal, which in any case knows the operators.

The ChamberFX broker has received three reviews on Trustpilot, all of which gave the verdict “scam.” Various review sites like Forexbrokerz or TheForexReview come to the same verdict. A commentator on TheForexReview claims to be a victim of the scam and to have made deposits to an account of the Czech company GOWEL s.r.o. at a Lithuanian bank. In fact, the Bank of Lithuania has included this illegal payment processor in its warning list. It seems that it is also connected to the broker scam Royaltrades (www.royaltrades.de), which is no longer online.

Crypto payment processor Plus Exchange lost its license

We believe that the ChamberFX scam is connected to the ZurixCorp, LincolnFX scams, The Change Ltd group (read this report), and the crypto payment processor Plus.Exchange (www.plus.exchange) operated by the Estonian COINHI QN OÜ. Currently, this payment operator’s identity is hidden on the Plus.Exchange website; maybe because their crypto license was terminated in November 2020 (see companies register entry).

The involvement of iPayTotal as a payment processor also supports the verdict that ChamberFX is a scam.

Stay far away for ChamberFX and its network.

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