Every year online trading becomes more and more popular among Internet users. For the participants of trading operations it is an opportunity to earn on the exchange rate fluctuations, getting an additional source of income for their budget. On the other hand, virtual exchange trading platforms become fertile ground for tens, hundreds or thousands of fraudsters, who are just waiting for another naive trader to seize his money.
On the example of one of the online brokers, which was caught in the machinations and deception of users, will show you how the scammers work in the networks. Today the main antagonist of this review is the broker Aurora Holdings.
Let's take a look at why broker Aurora Holdings has been branded a "scammer" in the online trading industry. And also focus on the warnings made on the basis of the stories of real traders who were "lucky" to encounter a cheater in their experience.
So, read carefully.
How does a beginner usually choose an online platform for future activity or a broker?
Of course, the potential trader is not a stupid person, that's why he "bites" not only at the "cover", i.e. the interface of the Internet resource, or looks at the functionality. Of great importance are painted affiliate programs, attractive terms and conditions, etc.. But these points are usually the usual advertising. That is why almost always everyone reads reviews and makes conclusions before making a choice. In other words, if the reviews are positive or at least they are overwhelmingly so, the audience's loyalty to the broker grows, the vigilance of future traders eases, they calm down and are ready to move on to financial operations.
This is the first user mistake. We're just used to trusting the opinion of other, already experienced people. It's almost a win-win, the so-called "hook" of swindlers, which many online traders "swallow" at once.
Many are not familiar with the features and principles of most sites and sites on the network. That's why, when reading reviews, they do not even assume that the vast majority of them are left by non-real traders who want to share their experiences. Who do you think may be the authors of information on the page devoted to the reviews? Alas, but most often the fraudster himself, the owner of the site. That is, if a broker or an online trading platform is designed as a resource for "siphoning off" money in a deceptive way, the reviews are "fake" and written by the broker himself or by his order by a professional writer.
As soon as a negative review appears on the site, exposing the broker's scams, it is immediately removed, so as not to spoil the "big picture".
This is the way broker Aurora Holdings has chosen. Look closely - the reviews of the brand are laudatory, you can even say with poorly hidden advertising. And if you pay attention, you get the feeling that all are written by the same author.
What is the Aurora Holdings brand?
Already from the first steps the brand "comes in from the trump card".
The site is bilingual. The information presented in English and Russian already evokes respect, emphasizing the seriousness of the project. Here, right on the title page, the benefits of cooperation for traders are indicated. The broker focuses on:
- comfort (instant access to all tools of trading operations);
- simplicity (ease of use of payment instruments);
- benefits (best conditions, support service).
It seems to be attractive and tempting. But in practice, cooperation with the broker is very different from the generous promises.
Deception here is practically on each line of information, which the broker states about himself.
There is information that the broker Aurora Holdings Limited is considered a relatively new player on the market of the CIS countries. Nevertheless it has been active in the West for many years. After some "red flags" that the broker may be a fraud, experts have checked the registration date of the domain of Aurora Holdings. Suspicions were confirmed - the registration was recorded only at the end of 2020. It was in the run-up to 2021 that the network began to be filled with attractive reviews about the brand, which in fact is a scammer.
With registration, everything is clear. But what about the actual location?
On their official website, the scammers indicated that the official office is located in England. (London, 1 Ropemaker Street, EC2Y 9AW, Floor 23.)
Most likely the calculation was that no one would think to check the data. We have to admit that the fraudsters' expectations were partially justified here: this is the location of a large business center with numerous offices of a large number of companies. Check the accuracy of the actual location of Aurora Holdings Limited exactly at this address can only be verified by a personal visit.
Features of registration on the broker Aurora Holdings website
The authorization process on the broker's website, "as at all", however, it is alarming that with the trading conditions, or rather with their details can be viewed only after the user opens an account.
Subsequently, the trader can benefit from the advice of a financial expert, who will guide and advise the trader on the way to success. In fact, the purpose of the Aurora Holdings broker consultant is to lure the trader out of as much money as possible, explaining the financial losses by the typical risks of the investor.
What is about the documents of the broker Aurora Holdings?
Before entrusting the fate of your finances to an online broker, it is extremely important not only to read the reviews on the Internet, but also to check the presence of official papers - i.e., the license.
Warning! In spite of the fact that the website is declared as bilingual, the information about security trading can be read only in English. It is believed that many people will ignore these points and sign the User Agreement without reading the paragraphs that are not translated into Russian. And there really are a lot of things to pay attention to. For example:
- the broker's right to disclose any traders' data to third parties,
- the possibility of judicial claims at the registration place not of one of the parties, as it is accepted in contracts, but of the broker;
- the right of the broker at any moment to close the trader's account with the full withdrawal of all available funds, without the right to restore or open new accounts, etc.
As for the actual confirmation of the broker's right to operate - the presence of an official document, the scammers preferred to overlook.
In other words, the broker does not provide a license, which he was obliged to get from the regulator even before he entered the market. This gives every reason to believe that he conducts financial activities illegally. This is a brazen deception of traders who, working with such a broker, will not be able to prove the guilt of the fraudster who illegally seized their money - legally it simply does not exist.
The result is an agreement to cooperate on unfavorable conditions for the trader (intentionally hidden at the beginning of cooperation, which is already a fraud) and financial losses in the future.
Let us summarize
What to do? Give up plans to become a successful trader? Not at all. Just be attentive to details, read every point you sign, don't believe blatant advertising and take information from highly reputable sources before you entrust your capital to new online trading players.
As for Aurora Holdings, it is a broker that is proven to be a fraud in the field of online trading. Unfortunately, it was found out as a result of the financial losses of many traders, who were swindled out of their money by swindlers.
Remember the name of this scam broker and pass it on to everyone involved in online trading to avoid a sad experience and to save your capital!