Telltale signs of Online Trading Scams

Fintech major PhonePe has shared important techniques, using which people can avoid being lured into scams

Reema Sharma
Feb 21, 2024

What is Online Trading Scams

In an Online trading scam, the scamster acts as a broker for a supposed investment based on false information or trick people into trading on a fake website

Where Online Trading Scams happen

Such investments can be in the form of stocks, bonds, mutual funds, assets, etc

Online Trading Scams Signs

Scamsters frequently offer investors implausible profits with little to no risk

Online Trading Scams through social media

Most trading scams start on social media or through messaging applications

Tips And Tricks For Online Trading Scams

Check Out 4 Tips And Tricks For Online Trading Scams Shared by PhonePe

1. Unrealistic gains

Fraud brokers excessively promote the idea of making tiny investments to reap implausible profits

2. Impossible to withdraw the investment

As profits rise and the individual wishes to withdraw money, the purported earnings are made to seem inaccessible

3.Invest more for better profits

Savvy fraudsters never stop requesting more money, coming up with creative justifications and the promise of withdrawals in the near future

4. Non-responsive

Scammers are not responsive, always inaccessible and after extracting a considerable amount of money, stop answering altogether

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