Has anyone invested with UKX Capital

gingamama

They have repaid all my money this afternoon. It is now sitting in my account.

I do not understand it, but I am beyond relieved. Thankyou everyone for taking the time to comment and support me.

Lesson learnt.

flaneurs_lobster

https://forums.moneysavingexpert.com/discussion/comment/82065366#Comment_82065366

Really? Gobsmacked!

Are you absolutely sure?

Well done.

jimjames

https://forums.moneysavingexpert.com/discussion/comment/82065366#Comment_82065366

Great news! When you say repaid "all your money" does that include all the profits they said you'de made?

I'm naturally suspicious but maybe it's a way to continue the scam going so anyone searching will see this post.

masonic

https://forums.moneysavingexpert.com/discussion/comment/82065400#Comment_82065400

It wouldn't be the first time. We've had previous threads where posters came along and argued against it being a scam because they got their money out. You can never tell if you're hearing from a genuine former investor or just someone in on the scam, but letting a few get away can be a price worth paying if it leads people to conclude it must have been genuine after all. We've also seen said escapees lured back later with greater confidence, where they aren't so lucky.

And what better way to save face in the midst of an active discussion on the UK's premier financial forum.

But if you look at the objective facts: the persuasion to sign some binding contract when clearly still in doubt, the subsequent coercion to invest greater sums of money, threats of account suspension, it all points to financial exploitation and fraud.

My advice to the OP is to stick to mainstream investors from boring regulated financial institutions going forward.

Reaper

Wow I am stunned.

I wonder if it is because they saw this thread and thought somebody very publicly getting their money back would reassure others?

Either way congratulations.

kempiejon

I see group think has decided they're a scam, and I know nothing but perhaps they're a pushy cfd/options trading platform.

artyboy

https://forums.moneysavingexpert.com/discussion/comment/82065714#Comment_82065714

if they are unregulated, then they are acting illegally. It's not a 'shades of grey' situation here.

wmb194

https://forums.moneysavingexpert.com/discussion/comment/82065714#Comment_82065714

Don’t think so: its website looks like a generic scam site. I don’t want to go into the specifics of why because I don’t want to help them improve it.

masonic

There are many examples of scams/ponzi schemes/frauds where people initially were able to get their money back.

Collateral was a P2P firm, which traded unlawfully without FCA authorisation for over 2 years, looking highly plausible until the FCA opened in investigation into their fraudulent entry on the Financial Services Register and determined they were never authorised. The website was suddenly taken offline and an attempt was made to appoint a dodgy insolvency practitioner while hundreds of thousands of pounds were siphoned off into the pockets of the directors, who each later faced prison sentences for fraud. Investors lost around 90% of their money after allowing for recovered assets and compensation.

London Capital & Finance was an unregulated mini-bond provider, which was debated here for at least a couple of years, during which time they always repaid their investors in full. The main concern was the complex web of companies re-lending to each other, suggesting the funds were being put beyond reach. Some posters were threatened with bans following complaints about them raising the alarm, but eventually the FCA decided to act on complaints they were receiving from IFAs and members of the public, and the SFO got involved. Investors were looking at losses of 80%+ until by some quirk of the aggressive sales-pitch marketing companies were using, the FSCS decided it could be considered "advice" and paid compensation. (see also Blackmore bonds)

More recently, Moneda Capital was offering guaranteed fixed rate bonds paying returns that were too good to be true. They were not FCA authorised so should not have been marketing these in the UK. Posters raising the alarm were threatened with legal action if they didn't remove their posts, but a few months later the FCA launched an investigation and a full asset restraint order against this firm. We await the outcome, but it doesn't look good for investors.

I would call all of these scams, although all of them returned capital to early investors and its hard to argue any of them set out from the outset to simply steal from victims using fake opportunities. When the net starts to close, the behaviour becomes more extreme and obvious.

Albermarle

https://forums.moneysavingexpert.com/discussion/comment/82065409#Comment_82065409

And what better way to save face in the midst of an active discussion on the UK's premier financial forum.

Yes, could be the 'Martin Lewis effect', even though he is not directly connected to the forum.