Finance Reserve scam: Beware of forex trading fraud!

Cybertrace is releasing an urgent scam alert for a fake forex firm variously trading as FR/Finance Reserve/Financial Reserve Capital Management. Forex (or FX) stands for foreign exchange currency trading, a highly speculative form of investment. Operating via a series of websites connected to, Finance Reserve scammers defraud unsuspecting victims of their hard-earned cash. Cybertrace has reason to believe that Finance Reserve is connected to two other known scam websites: and If you are considering investing any funds with Finance Reserve, stay away from these fraudsters! If the Finance Reserve scammers have already fleeced you, don’t get mad, get even! Contact Cybertrace’s experienced analysts today to find out how we can help.

How does the Finance Reserve scam work?

Finance Reserve is the latest addition to a growing list of forex scams Cybertrace has recently exposed. Scammers target victims directly via phone or social media with “amazing investment opportunities” and a professional-looking website. Once the fraudsters have gained victims’ trust, they induce them to open a “trading account”. Next, they transfer targets to another associate who convinces them that they have made a high initial “win”. Using aggressive and convincing sales tactics, the associate then persuades victims to commit substantial amounts of money. Everything still seems fine and an “online trading platform” appears to show real-time losses and gains. It is only when victims try to withdraw their money, that the scammers delay and eventually cease contact. The realisation finally dawns: this is actually a scam and everything was fake! So how can you protect yourself? Let’s consider some of the red flags our expert investigators look for.

Regulators and warnings on the Finance Reserve scam

Any genuine trading or investment company will list where and by whom it is licensed and regulated. Having an independent regulator provides assurance and protection for consumers against fraud and malpractice. Tellingly, Finance Reserve does not provide any such information on its website. When searching the UK’s Financial Conduct Authority’s Financial Services Register, the only match is a ‘clone firm’ warning regarding FR. A clone firm imitates a genuine company but does not actually have authorisation to trade by the regulator. Furthermore, this means that it is not subject to any official dispute settlement or compensation schemes. Highly suspicious!

Other serious financial regulators, such as Belgium’s Financial Services and Markets Authority and the Cyprus Securities and Exchange Commission, have gone further and issued specific warnings not to invest with Finance Reserve. Finally, the jurisdiction where Finance Reserve is registered, St Vincent and the Grenadines, is a well-known international tax haven. Due to its widespread use by fraudsters, the country’s Financial Services Authority has recently issued a warning that it does not ‘regulate, monitor, supervise or license’ any forex-trading companies. The message is clear: stay away from the Finance Reserve scam!

Nameless and Faceless

Another tell-tale sign of scams is the absence of any information on who owns, runs, or works for Finance Reserve. This makes sense: they do not want to get caught! Their website doesn’t offer any names, pictures, or bios, and the company simply doesn’t exist on LinkedIn, Twitter, or Instagram. FR’s only social media presence is an obviously fake Facebook profile without friends and a profile picture of an actor! Finally, Finance Reserve uses an Icelandic private domain registration company to register its website, thus hiding its true owner. These are all clear indications that the Finance Reserve scammers are pretending to be someone they are not!

Bad Reviews

An important step before investing money with anyone is some background research to find out what others’ experiences have been. Unfortunately, when it comes to the Finance Reserve scam, the news is all bad. Both individual reviews on Trustpilot and specialised broker review sites such as Personal Reviews call FR out as a scam. Note that you shouldn’t take all reviews at face value, as some might be fake themselves. However, taken together with all the other tell-tale signs, it is beyond doubt that Finance Reserve is a scam.

What can I do about the Finance Reserve scam?

Hopefully, you have dodged a bullet and not invested any money with Finance Reserve. But even if they have tricked you, it is not too late to take action and get justice. Just beware of unverified and unlicensed scam recovery firms that promise guaranteed success – asset recovery is a complex process. Too often, these are actually secondary scammers who try to rip you off again! Instead make sure you go with a verified and licensed provider: Cybertrace. Contact us today to discuss how our expert investigators can help you and share this blog with friends and family to help keep our community safe.


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