Simplewealthfx.com Reports & Reviews (1)
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SCAMPULSE
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SCAMPULSE
If you know any contact information for Simplewealthfx.com, help other victims by adding it!
Scammer's website simplewealthfx.com
Scammer's email [email protected]
Victim Location NL A5A 1N4, CAN
Type of a scam Other
Initial means of contact Not applicable
CryptoCurrency
1. When I first heard about trading on crypto, it was from a social media post about a well-known Canadian TV personality who endorsed Quantum AI on a breakfast television show in Canada. The transcript from that interview included a link to Quantum AI. I was curious, so I clicked on the link but it took me to Simple Wealth FX.
2. This would have been a red flag but my curiosity won, so I proceeded with setting up a profile, which included a 'basic/starting kit' deposit of 376.28$ CAD using my credit card. After completing my profile, I received an email from a company called Admirria. The email stated that I registered to a newcomer online trading course. This is another red flag.
3. Minutes later, I received a call from Andy Wells. He represented himself as the Registration Consultant for new accounts with Simple Wealth FX and walked me through the process of funding my investment for trading. Minutes later, I received a welcome email from him (his email signature has the Simple Wealth FX name and phone#1-418-740-1839) and a unique code that I am apparently not supposed to share with anyone and is supposed to be used when someone from their company calls me to ensure that they are legit (of course this never happened). I also received an email from Simple Wealth that had the link to my trading dashboard and password.
4. Days later, I received a call from Martin Gray, who introduced himself as my personal Executive Account Manager. He showed me how the dashboard works and also instructed me to set up a profile with Shakepay (a cryto wallet app). Apparently, I needed it in order to move funds between Simple Wealth FX and my bank, since Simple Wealth FX does not accept credit card to fund ongoing trading. Shakepay was also supposed to 'convert' the crypto earnings from Simple Wealth FX to $ currency to allow for the $ to be deposited to my bank account (and vise versa). During the set up process for Shakepay, Martin also instructed me that if Shakepay inquires as to whether a 3rd party is helping me with the registration process with them, that I have to say No, otherwise, Shakepay will raise concerns.
5. After I've set up my profile with Shakepay (days later as Shakepay took 4 days to validate my identity), Martin called me and said that I am now ready to complete setting up my investment profile with them and transferred me to Daniel (from Finance). Daniel jumped on the zoom call and instructed me to send funds between ($3K to $10K) from my bank account to Shakepay. I hesitated because their rationale for asking me to do this is apparently, to set up my quarterly limit with Shakepay. I challenged this because nowhere in Shakepay's FAQ says that this is required. So, the zoom call ended with Daniel dropping the audio session.
6. Minutes later, Martin Gray left me a VM asking why the call ended. So, we continued our communication via email. The main topic was me asking for a convincing rationale as to why I need to send more $ to Shakepay and I also asked how my initial investment will be returned to my credit card. The communication ended with no additional response from him.
7. Minutes later, I received an email from Admirria confirming that my order has been refunded. At the bottom of the email, there was an email for feedback, so I sent my feedback to them about my experience. Within 24 hours, Admirria responded and stated that they are not a trading platform but an online course provider for trading. I mentioned Quantum AI and Simple Wealth FX in my feedback to them and Admirria stated that they are not aware of these 2 companies. This is another red flag because my interactions with Simple Wealth FX triggers an email from Admirria, so, if they are not affiliated, why would they send me an email after my interactions with Simple Wealth FX?
At the end of the day, I am relieved that my initial investment was refunded to my credit card and I did not suffer any loss. But I am sad that companies like this continue to operate and pry on vulnerable individuals who are only looking for ways to improve their financial status, especially with the current economic situation.