Got a Whatsapp message from an unlicensed fund management company. The message shows how much the fund has returned to their “”investors“”.
The red flags were :
- returns calculated per month
- unknown person messaging
- involves in forex, gold and crypto currency
- use of short term trader terms like scalping
- keyword stuffing into website (overuse of certain keywords)
These red flags are good enough reasons for people to stay away. The instruments used are also very high risk. While it does have a gold related fund, it's most likely a leverage gold investment account which makes it a risky instrument.
When I visited their website, the website didn't even have the "lock" icon, it means the company didn't use HTTPS to secure their website traffic. All modern browsers today require websites to use https instead of http even if the website does not store sensitive customer information. If the company can't even afford to buy a certificate to secure their websites on HTTPS, how can we entrust them with our blood sweat money.
Running an unlicensed fund is a criminal offence in Malaysia. Below is one of the cases which Securities Commission (SC) case.
