Yesterday, the Detective received an investor submission and exposed the dark side of PGM securities companies, and once again exposed the chaos in illegal financial trading platforms.
PGM brokerage firms have long claimed to be regulated by Australian ASIC, but have conducted business in mainland China in violation of regulations.
According to investors' feedback: it launched a gold quantitative EA, using intelligent trading and stable profits as bait to induce investors to open an account and follow the order.China Business Manager Zhao Yongyong has repeatedly ensured the safety of members' funds and transactions online and offline, attracting many investors to open accounts and deposit, and is looking forward to borrowing quantitative EA to achieve wealth appreciation.
However, on December 30, 2024, a large number of follow-up member accounts had abnormalities, and many large-scale gold orders opened and closed the same time, and members instantly suffered huge losses.
Worried that the principal will not be guaranteed, investors have applied for withdrawal and stop loss.
However, after receiving the application, PGM brokerage firms immediately frozen all affected accounts on the grounds of "system maintenance and investigation", and then sent an email to promise to investigate and thaw within 15 working days. Asia Pacific Director Li Lieting also recorded a video to do thisensure.
As a result, after 15 working days, the promise was lost, the account was still frozen, and the funds could not be withdrawn.The members negotiated many times and received only a perfunctory reply that "is still under investigation and is thawing later."
A few days later, Li Liting gave a "solution": the account can be unfreezed but cannot be withdrawn. Investors need to attract new members to open an account to deposit funds, and release funds at the new deposit ratio to allow the damaged members to withdraw funds.
This plan puts investors in a desperate situation and uses funds as bargaining chips, and the damaged members firmly oppose it.
During this period, members asked PGM to provide evidence of so-called "member violations", but PGM was unable to provide it, confirming the fact that the funds were unreasonably withheld.
Some of the damaged members were exposed on TikTok, hoping to use public opinion to discuss justice.But PGM was so angry that he permanently freezes the accounts of these victims, completely angering investors, and they are determined to let the truth come out.
Afterwards, the detective communicated with the investor and learned that the investor claimed that his account was opened under the name of PrimeTime Global Markets Limited.
As early as November last year, the detective conducted a survey on the PGM securities platform. The official website of PGM claimed that it provided MT4 and MT5 trading software, but in fact only MT4.
PrimeTime Global Markets Limited, a Hong Kong company that trades with domestic investors, has misled investors by using similar names without obtaining Hong Kong SFC regulatory license.
Secondly, a dramatic scene took place!!
Through the exposure video posted by Huiyou online, the detective noticed that the official PGM video account once released an official website announcement in the comment area, which stated:
At 12:00 on December 30, 2024 (GMT+2), some customers' trading accounts were abnormal.The investigation found that except for using EA intelligent robots and follow-up accounts, the other accounts were normal.This incident was deliberately done by illegal trading teams under the jurisdiction of ID 63324/62220. They borrowed funds and opened up the market, and asked them to use their recommended order plug-ins to attack the EA intelligent trading system with hacker technology, tamper with order data, resulting inCustomers are losing money and company reputation is damaged.The team's main agents took commissions of $580,000, made $3 million in violation of regulations, and manipulated customers to defame the company.The company permanently bans it and holds it legally responsible, declares that it will handle deposits and withdraw funds normally for compliant users, and reminds members to be wary of the team's incitement and defamation.
The mother said that the mother had the right reason, and the clues found by the detective are obviously even more untenable!!
PGM Platform is a licensed financial dealer registered in Melbourne, Australia, and registers an official account in the Asia-Pacific region to promote its platform!!
However, as early as April 2019, ASIC banned its brokers from serving mainland Chinese investors, and would be severely punished for violating the rules.
Many compliance platforms such as IFGM responded to the call and withdrew from the domestic market. The dealer ACY changed its subject and moved supervision to Vanuatu. Although it continued to operate, the weak supervision was questioned.
However, PGM ignores the regulations and still uses ASIC supervision as a gimmick to false propaganda, defrauding investors and causing huge losses!!
In short, from the existing clues, PGM's rhetoric is difficult to justify.At present, the damaged investors have spontaneously organized to fight PGM, and the official video subscription account of PGM has closed the comments in the comment area. The incident is still fermenting, and we will continue to pay attention to it in the future...
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