Overview of ChamberFX Broker Scam
Scam-Or Project has recently been informed of multiple complaints from individuals defrauded by the broker scam ChamberFX (www.chamberfx.com). According to its official website, ChamberFX claims to be operated by Chamber (Holdings) Pty Ltd based in Australia, asserting they hold a license issued by ASIC for the Australian market.
However, there is reason to believe that Chamber (Holdings) Pty Ltd is merely being cloned and is not involved in the actual operation of this fraudulent platform. Additionally, the terms and conditions on the website specify UK law as the applicable jurisdiction, suggesting that the scammers may be running this scheme from the United Kingdom rather than Australia.
Role of iPayTotal as Payment Facilitator
Investigations have revealed that iPayTotal acts as a payment processor for ChamberFX. Given iPayTotal’s history of providing services to high-risk operators, their involvement raises further concerns regarding ChamberFX’s legitimacy.
Trustpilot Reviews and Victim Reports
The ChamberFX broker has received three reviews on Trustpilot, each labelling it explicitly as a scam. Other review platforms such as Forexbrokerz and TheForexReview have reached the same conclusion.
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A commentator on TheForexReview stated they were scammed after depositing funds into an account held by GOWEL s.r.o., a Czech company, via a Lithuanian bank.
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The Bank of Lithuania has already added this illegal payment processor to its official warning list due to its involvement in fraudulent financial activities.
Connections to Other Broker Scams and Crypto Processors
Evidence suggests that ChamberFX is linked with several other scams, including:
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Connected Scam Operators |
Details |
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ZurixCorp, LincolnFX |
Broker scams with similar structures |
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The Change Ltd group |
Refer to [this report] for detailed exposure |
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Royaltrades (www.royaltrades.de) |
Previously online broker scam, now inactive |
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Plus.Exchange (www.plus.exchange) |
Crypto payment processor run by COINHI QN OÜ in Estonia; their crypto license was revoked in November 2020 (see companies register entry). Currently, Plus.Exchange hides operator information on its website. |
Final Assessment
The participation of iPayTotal as a payment facilitator further reinforces the assessment that ChamberFX is a scam operation. This payment processor has a record of working with high-risk and fraudulent schemes, making it an enabler in these illegal activities.
Conclusion and Recommendation
Stay away from ChamberFX and its associated network.
If you encounter such scams or payment facilitators enabling these schemes, ensure to report them to the relevant authorities immediately.