Fraudulent projects close as suddenly as they appear, and the BrighterFields scam has suffered a similar fate. It existed only a little while, having received a lot of negative feedback and robbed quite naive users. In the company’s review, let’s find out what tricks these attackers used and why it’s better to stay away from the BrighterFields platform.
Basic information about BrighterFields
As the WHOIS database search showed, the company started its activity in August 2021. But the scammers started to pull the plug a couple of months later – the last update took place on 24 November 2021. Today, the site is inaccessible to visitors, as all content has been removed. It is impossible to bring anonymous scammers to justice.
Signs of fraud – how to recognise a scam?
In the activities of the official website of BrighterFields, it was possible to see a lot of pitfalls that cast doubt on the competence of the intermediary. The list of the main ‘red flags’ includes:
- fake address of the main office – the crooks indicated a random street in Singapore, and it is useless to look for them there;
- no working contact details – BrighterFields has only provided an email for communication, but no one responds to emails;
- lack of detailed information about trading assets and conditions – a template website works as a cover for a scam, although users are told about international trading and 30 awards.
Home page BrighterFields and trading account types
The primitive platform, designed in a couple of minutes, works in two languages – English and Russian. Users are offered to open a real or free account on the ‘best social trading platform’, in which the creators have obviously not invested a penny. Traders could open or, rather, simulate transactions on cryptocurrencies, futures, commodities and other assets.
According to the reviews published about the BrighterFields website, the trading conditions offered by the broker were far from ideal. Information about spreads, swaps, brokerage commissions is not disclosed, and the trading accounts themselves look like this:
- Mini – an account for $500, which implies the services of a personal manager, round-the-clock support and protection from negative balance.
- Green – for such an account BrighterFields broker requires from $5,000 to $10,000, offering in return leverage up to 1:200, access to trading in all types of assets.
- Premium – to get such an account, it is necessary to invest at least $10,000. For this cost, the trader gets a personal analyst, maximum leverage up to 1:100 and all the same trading tools.
How to deposit and withdraw money from my personal cabinet?
As mentioned above, you need to deposit at least $500 to trade on the BrighterFields website. It is not excluded that the scammers divorced gullible users individually and pulled every last penny out of their pockets. There is no clear information about the withdrawal of funds on the site. Commissions, additional taxes and processing times for withdrawal requests are also hidden from traders.
The users were not delighted with the speed of withdrawal either – in the BrighterFields reviews, deceived clients of the orphanage tell about how these clever scammers actually work. At the same time, the attackers do not hesitate to tell tales about their wretched project in customised comments.
Legal data of BrighterFields and review results
The scammers did nothing for the comfort of their clients – they did not provide any trading tools, professional software or information about liquidity providers. There is no doubt that the trades on the page were only simulated and not displayed on the real market.
There are no documents that would confirm the broker’s right to offer financial and investment services on the site. There is no information about the residence of the swindlers either; there is no information about regulation and control of the activity. The absence of contact details and fake address of the head office also indicates that the project existed only in the imagination of fraudsters.
There is no point in speculating about the advantages or disadvantages of this money hoover. No wonder that the platform lasted only three months, after which it closed with a bang – the influx of negative reviews and the complete lack of sane trading conditions clearly indicate a scam.