Home Do's & Dont's Identify fraudulent brokers or agents promising high investment returns

Identify fraudulent brokers or agents promising high investment returns

Last updated on Apr 03, 2025

  • AFRIDAX operates exclusively through its online platform.
    We do not employ or authorise any external agents.

  • Under no circumstances should any broker request or be granted access to your personal device or AFRIDAX account.

  • AFRIDAX staff will never call you!

How to identify fraudulent brokers or agents promising high investment returns?

Unrealistic Promises
Be wary of anyone guaranteeing high returns or promising "risk-free" investments. Cryptocurrency investments are inherently volatile.

Never Grant Remote Access/Control
Do not allow anyone to remotely access your device (PC or mobile phone) under any circumstances.
Legitimate companies will never ask for this!

Pressure Tactics
Fraudulent agents often use pressure tactics to rush you into making a decision.

Unsolicited Offers
Be sceptical of unsolicited offers or messages from unknown individuals or companies.

Lack of Transparency
Legitimate brokers will be transparent about their fees, risks, and investment strategies.

Requests for Personal Information
Never share your private keys, seed phrases, 2FA codes, or other sensitive information with anyone.

Unregistered Entities
Verify if the broker or agent is registered with relevant financial authorities.

Social Media Scams
Be cautious of investment "opportunities" promoted on social media platforms.

Look for Red Flags
Poor grammar, spelling errors, and unprofessional communication are common red flags.

Reverse Image Search
If a person is sending you their picture, do a reverse image search to see if the picture is being used on other sites. Many scammers use stolen images.

Check the Brokers History
Search the brokers name online, and add words like "scam" or "review" to see if others have been defrauded.

What to do if you have fallen victim to a Scam

Please see this article

Important Reminder

Staying informed and vigilant is crucial for protecting your assets in the cryptocurrency space. If something seems too good to be true, it probably is. Always prioritise security and never share your sensitive information with anyone.

Cryptocurrency transactions are irreversible. Always verify the recipient's address and network before confirming your withdrawal.

Please take note of the Cryptocurrency Risk outlined in this article.

Need Assistance?

If you encounter any issues or have questions, our support team is available to assist you. Please submit a support request via the platform, and we will promptly address your inquiries. You can view our status page here.