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2,400 Traders Scammed for $32 million in Forex Fraud

A big forex scam took place in Thailand, where 2,400 traders were scammed for over 1 billion baht ($32 million). Scam broker ShareForex was implementing unethical business practices in their business model in order to appeal more customers. Thailand’s Department of Special Investigation received a petition by damaged citizens and stated how this case will receive a special status.


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ShareForex was promising big payouts and easy money, while not informing clients on potential risks involved in forex trading. Their advertising skills attracted a great number of traders willing to deposit 3,859 baht (around $1,000) in order to make $40 a day. The broker also promised greater profit in case you deposit more or refer a friend.

ShareForex was promising big payouts and easy money, while not informing clients on potential risks involved in forex trading. Their advertising skills attracted a great number of traders willing to deposit 3,859 baht (around $1,000) in order to make $40 a day. The broker also promised greater profit in case you deposit more or refer a friend.

Still, over 2000 people managed to make a deposit. Traders deposited different amounts, and one of them even deposited over 10 million baht.

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