FOREX-TREND

Founded in 2009, FOREX TREND LTD was a forex broker registered in New Zealand that gained significant popularity, especially in Russia and other CIS countries. The company's core offering was its PAMM account system, which allowed investors to allocate funds to supposedly successful traders and share in the profits. At its peak, it was one of the largest brokers in the region. However, in late 2014, the company abruptly stopped processing client withdrawals, leading to its collapse in 2015. Subsequent investigations and widespread public reports concluded that the company operated as a large-scale Ponzi scheme, resulting in the loss of millions of dollars for its investors.