Recently, some investors broke the news to FxGecko that two suspected money trap forex brokers are active, they are Ridder Trader and JQL MArkets.

FxGecko data shows that Ridder Trader and JQL MArkets are related, both are high-risk brokers with low ratings and no legitimate forex trading license, and they are connected to several known scam brokers.

It is known that Ridder Trader claims to earn 6%-16% per month for a $1000 investment. This sounds tempting, but there is a famous saying in the field of investment, that is, "if the promised return exceeds 6%, you have to put a question mark, if it exceeds 8%, it is very dangerous, and if it exceeds 10%, you have to prepare to lose the whole principal".

Moreover, Ridder Trader is a high-risk forex broker without a legal forex trading license, which means that if you trade with it, it is unknown how much you will gain, but your money is 100% at risk.

JQL MArkets, on the other hand, claims that investors can be promoted to 1-star IB, 2-star IB, 3-star IB, 4-star IB, 5-star IB by introducing others to invest, and IBs can enjoy higher returns and dividends.

This model is a typical money trap model , exactly the same as the investment scams OTM Trade and ORYX Global Traders DMCC that have run away.

The process of these investment scams is roughly like this: scammers packaged as legitimate brokers or senior experts or academies -- invite clients -- subsidize them -- lure them to invest -- the investment goes wrong -- the scammer disappears and the client loses all his money. It has been common to see this kind of money trap, but there are always people who fall for it.

FxGecko reminds you that you should always be cautious when you come across investment opportunities that promise high returns with little or no risk. These are likely scams.

You should "ask, check and confirm" before investing.

You can check the regulatory licenses, security scores, customer complaints and other information about global trading platforms at FxGecko to avoid any potential scams.

You can also file a complaint against any problematic broker to seek a solution, or expose a scam broker to alert others not to be scammed.

Click here to recognize common investment trading scams to avoid being scammed.

Click here to see how to check if a broker is safe and what to do if you encounter a scam broker.