ZX Markets — Zx market is a fraudulent company

Hello everyone,

Believe me. Zx markets is a very fraudulent company. They claim to be in india. However, the people who work for them and do contact clients are based in sri lanka. The initial call comes from india and once you enroll, you are given to a relationship manager in sri lanka and you never get to hear from the initial contacts from india. The company behind them is evolve technologies which is a registered it company in india. The people behind evolve technologies are r. M harinarayanan, v. P. M tilakan and p. V rajesh. Zx markets is not on the list of fx brokers in either sri lanka or india and so is an unregistered and unauthorized fx broker. This is the way they operate:

They call you and suggests to you how you could make $10 dollars alone by investing $200.00 and how you can easily withdraw. Surely, the first 2 days, they do get you that profit. This is intended to win your trust that it works. Afterwards, they ask you to invest more so that you make more. Don’t do it. Once you invest, they make profit for you in the first 2 or 3 days. Afterwards, the relationship manager intentionally takes a bad trade and tells you the market did not get into their way based on their analysis. They then ask you to take another trade using the same currency pair in the opposite direction. Anyone who understands trading knows that counter-trading is bad. Yet that is what they do and play on your ignorance.

After that they call to tell you your margin is low and that if you don't pump in extra money, you can lose all your profits.Instead of they making you money as promised, you rather pump in money and lose them. From this point onwards, it is about you pumping in money and not they making you the profit. Everyday that they call, they ask you to pump money into the account to protect your investment instead of trading to make money. The truth is, they have made your account grown into profit by closing the profitable trade within the counter trade and re-entering in the same direction thereby locking you in a long trade forever but you can’t withdraw because of the counter-trade they have done.In reality, no profits have been made for you but your capital has reduced and they have reduced your ability to make new trades because you money is reduced. If you decide to withdraw the money, you lose everything and that is why they ask you to put in more money.
As you put in money, they continue to take bad trades to lock you in the same counter trade they have taken, without taking new trades to enable you recover and always asking you to take the profit in one direction and re-entering the same pair without making any new trades. This keeps you in the counter trade till a point where you can no more send them money. When they realise you can't send any more money, they ask you to close the existing trades and you lose all your money.In fact they ask you to provide more money as if you are a bank. The question is, how do they rob you of your money?

The truth is the trading software they use is fake / a dummy trading platform. Your money is received by evolve technologies into their own account and behind the scenes, they enter the deposit in the dummy software and pretend to be trading for you. The aim is to put you in a counter trade by taking the wrong direction and intentionally wait till almost all your money is gone. And then they call you to take the counter trade to prevent the loss, with a promise that they will help you recover the loss. They then call you to put in more money to recover the trade and when you are unable to do so, they ask you to close your position, thereby losing all your money including the so-called profits made.In this way, it appears like the market had taken your money and not them. However, the real money has been taken into evolve technology's account for the company to profit from.In contrast, international trading platforms updates themselves immediately you make deposits or withdraw. You do not send the money to another company for your account to be debited. According to lorraine, one of the most deceptive relationship manager, evolve technologies is their parent company. The fake platform therefore is just a medium used to make one believe the money was lost to the financial market.

Apart from that, they ask you to let them connect to your computer while they help you know how to deposit and use their platform. Through that, they are able to know details on your debit/credit card and they use these details to steal your money. Never allow them to connect to your computer through 'anydesk'. If you make a report to the compliance department, they pretend to do something about it, but you never hear from them. Why? Because they are fraudulent.

They promise at their first contact to train you on how to trade free of charge without letting you know they will trade for you. You only get to know it only after the have started trading for you and taking you through their deceptive processes.In fact they promise one thing and do the opposite throughout their dealings with you.

They have a fake compliance department who will take your complains and never return to you. Sometimes, they ask you to provide them with your bank statement or details of cards and other identification document. Don’t provide them. They want to use the details to commit fraud on you once they know the amount on your bank statement and other details such as credit / debit cards. They never will communicate with you through video skype and are very deceitful from the beginning of the contact till they finish siphoning all your money from you. Why? Because they don’t want you to see their faces as every fraudster syndicates do. Their staff are well trained in the act of deception, pretending and present themselves to be genuine. They pretend to be offering good advice and services in order to mislead you to part with money.

Some of their staff include one lorraine who never uses her surname and is very intelligent and deceptive, very well trained to lie and mislead people, nadira bakir, the compliance manager who never acts on complaints received and azath zarook a self-acclaimed trading specialist. These people are fraudsters and criminals.

For those who claim to have invested and received returns, either it is true or not. I suspect the fraudsters themselves are appearing to send such messages in order to neutralize the accusation being made against them and for people to believe in them, because lorraine is very much aware that people are accusing them of being fake.

So please let the public be aware and stop dealing with them. I am also calling on the indian authorities to investigate evolve technologies in order to arrest these fraudsters who are defrauding people from their hard earned monies. I will do my best to escalate these findings to the international financial intelligence agencies in europe and the us anti-money laundering agencies to take up this investigation and close up on these criminals.