This is what I had experienced with a scam broker called "RoyalMarketOnline". I think all scam brokers doing the similar things to scam people's money until they find out it is too late. As being a victim, I would like to share this to those people who has a chance to view this post and hopefully I can save your money being scammed by these heartless and scam brokers.
Step 1: A promotional adv. on social media such as FB, Twitter....request you to download a mobile app called "SnapCashBinary"
Step 2: Open a new account at minimum amount at USD250.
Step 3: A financial adviser is assigned to follow up your account and he would ask a series of questions in trying to get to know you as much as possible, including your current job, personal background, financial status, credit card info. and fixed assets. Once the information is collected, he would assist you to do some trades with small amount of bets. Of course, every trade they instruct you to do, you would earn a good profits and even double your investment in a short period of time.
Step 4: During the trade, the financial adviser would request you to provide your credit card information as he claims this is used to verify your identity. But behind the scene, they try to swipe your credit card in secret to withdraw some money from the bank without your authorisation. After a few trades, the money has been transferred from the bank to their merchant account. Then, he would explain to you that you have nothing to lose as it is stored in your trading account. They also guarantee that all the money you put in is to make your capital gain more and more.
Step 5: This guys are well-trained and they don't provide you any direct line to customers. They would advise customers to communicate via Skype for ease of communication. If you don't have Skype account, they would call you directly and assist you to trade. The numbers they use are all IP number which can not be chased and reachable.
Step 6: Once the money is deposited to the account, you would not be able to withdraw it afterwards and they would try to convince you to trade as much as possible. Even you make a withdrawal request to the customer service team, the request would route back to the financial adviser and there is no way you can get your money back.
Step 7: Trade or not trade: If you trade, they would advise you to increase your bet to USD1K-3K at each trade and put you under an insurance scheme for investment protection. But of course, this is a sweet words without contract binding and the aim to build you a confident and convince you to trade with them. The first few trades you may make profits, as you increase your bet higher, you would end up losing all your money as the system is totally controlled by the scam broker. If you do not trade and make a withdrawal request, they would not also allow you to withdraw the money and would keep convincing you to trade. They even ask customer to provide them the account logon info. and would trade for them on behalf of customer's consent. Either trade or not trade, you would end up losing your money at the end.