Is Epsilon FX a Scam? (epsilonfx.io)

Is Epsilon FX a Scam? The short answer is YES. This is another fancy-looking trading scam website with poor reviews. But if you’d like to learn more about why our scam investigators are deeming this website a scam, let’s take a look.

Company Details

The Epsilon FX website states the following in regards to the company supposedly operating the website:

“EpsilonFX is owned and operated by EpsilonFX LLC © 2022 · Suite 305, Griffith Corporate Center, Beachmont, Kingstown, Saint Vincent and the Grenadines”.

A Limited Liability Company or LLC, is commonly used for companies registered in the United States. But the website then goes on to list an address in Saint Vincent and the Grenadines. Interesting.

Our team has conducted searches of international corporate databases and databases specific to companies registered in the US and Saint Vincent and the Grenadines and we’ve found no registered company matching the name EpsilonFX LLC. We do not believe any such company even exists. So the scammers behind the EpsilonFX website have made a fraudulent claim and we believe there is no registered company responsible for the operations of the website.

Furthermore, the website provides no information at all to suggest it holds any financial licenses. The website was also only launched in January 2023.

Faceless

The Epsilon FX trading scam website offers no information at all about who might be running the website. Which is typical of trading scam websites. Scammers don’t list their real names and faces on their scam websites. And even if there are employee names or photos published, of course, these are always alias names and stolen identities. The website also offers no links to social media profiles, and our searches on LinkedIn identify no company profile or individuals listed as linked to the website.

Online Reviews

It is always a great idea to do your own research and look for what others are saying online to determine whether it is legit, or likely to be a trading scam website. But things are not always what they seem, and this is the perfect example. Let’s take a look at why.

Our team conducted open-source research and found a number of online reviews for Epsilon FX. Interestingly we found that most of the reviews are positive. Some of the review websites make claims such as “Our epsilonfx.io review is an unbiased and honest one”, like the review published on the Scams Watchdog website. Scam syndicates are known to operate fake reviews and news websites. So when someone starts to do their own research to figure out if Epsilon FX can be trusted or not, they are likely to find a bunch of websites saying how great and trustworthy it is. By scammers flooding online records with fake positive reviews, it makes it difficult for individuals to find the truth and make a proper assessment.

So there is an important lesson to be learnt here. When looking at online reviews, you still need to be careful, as the review websites or the individuals who have posted the reviews, could be part of the scam!

So is Epsilon FX a Scam? Absolutely, it is a fake trading website. There’s no company responsible for operating the site, no individual can be identified as linked to the operations and Cybertrace has received reports from people who have already lost money to this scam.

How the scam works

Cybertrace has been made of aware of this scam website from past victims who have already lost money to the scam. And from the stories we’ve heard, it seems the scammers operate in a typical fashion. The victim will be encouraged to make a small initial deposit, and of course, will make some profit from the first trade. Often these types of investment scams will actually give the victim back their initial deposit and the profits they’ve made. Keep in mind, no trades ever occurred and no profits were actually made. But at this point, the victim now thinks the system works and then starts to invest larger and larger amounts.

The Epsilon FX scammers have another website, specifically for the victim to log into their ‘trading account’. epsilonfx-client.io

Inside the trading account, the victim can see the supposed trades, their deposits, and of course their profits. However, the offenders can manipulate these trading platforms, and the account displayed, is not real.

Only once the victim invests a lot of money and wants to start making withdrawals do things start to go bad.

Now what?

Well, we hope you’ve managed to navigate through all the fake online reviews of this trading scam website and you’ve found this article before sending any money to the Epsilon FX Scam.

If you have already sent these criminals money and would like to speak to our team of investigators to learn how we can help, contact us today.