Licensing
To receive such a document, the broker needs to be activated. However, FXamo doesn’t think so and has made 3 attempts to seem like a managed company.
For the first time, a broker is lying if he says his work is “accepted” by the FCA. The second deception is that he has permission from the FSA regulator. No one is presenting us with a license. Broker Tribunal looked for evidence of its provision on the main FSA web resource. It was all pointless. The FSA did not provide the FXamo document.
3rd lie: FXamo representative made a false document that it has been managed by VFSC since November 2021. The Vanuatu Economic Services Commission has not issued a license to Fxamo. The scammers, using Photoshop, entered personal information into a printout that they picked up on the Internet.
Even if this permission was real, it would definitely not have meaning in the Russian Federation. From 2021, only those intermediary rights issued by the Central Bank of Russia play a role.
LEDs in the taillights - can they be installed?
According to all legal standards, the answer to this question is negative. LED sources cannot be used in rear lights in cases where the manufacturer does not provide for the installation of this type of bulbs. The same applies to low and high beams if the marking of the device does not correspond to the type of lamps that are installed in it.
In this context, we will consider the following light sources:
- rear position lights when installing LED lamps in them,
- rear fog lamp,
- brake lights,
- rear license plate illumination.
Let's look at this issue. Taking into account the basic provisions for allowing cars to participate in traffic, we can distinguish several types of headlights:
- with incandescent lamps;
- with xenon light sources;
- fog lights.
The correspondence between the type of lamps and the type of lighting device is regulated by the Technical Regulations. As of 2021, it contains the following types: R, C, RC - these are the signs for incandescent lamps:
- HR, HC, HCR - halogen;
- DR, DC, DCR – xenon;
- B, F3 – respectively, fog lights.
Having studied the document, you can see that the markings are indicated for all 4 types of headlights, but there is no mention of LED light sources here. There is only one reason for this - LED is not approved by the regulations as such, and therefore LED lamps, if they are not provided for by the design of the vehicle, cannot be used; such lamps simply will not correspond to the type of lighting device.
Manufacturers often initially install LED sources primarily on business and premium class cars. In this case, the lumen indicator (brightness of the light source) does not play a role - attention is drawn specifically to the discrepancy in the headlight labeling with the type of lamp.
What does the FXamo resource look like?
By going to the fxamo.com resource, you can immediately find a bright picture with a recommendation to gain “real income from trading”. Something similar is observed on the web resources of most scammers.
You should go to the “Contacts” option to see what communication options the scammer recommends. The office states the following about itself: there are 3 branches - in London, Hong Kong, Sao Paulo. Each office has a telephone number and e-mail. Initially, everything looks official.
However, these branch addresses are considered a lie by Fxamo, which the scammer uses to preserve the legend that it has international status. So, the usual verification, for example, of UK addresses indicates: the FXamo broker does not have any branch in England.
FXamo scammers
Another trick used by the scammer is to claim that they have several permits at once. Thus, FXamo claims that it is managed by the FSA, but does not provide the required documentation. In addition, the work of the office is “approved” by the British Regulation of Official Conduct in the Field of Economics (FCA), but there is no mention of Fxamo on the portal of the office itself.
For greater reliability, the Fxamo representative intended to deceive about the presence of a VFSC (Vanuatu Economic Services Commission) permit. This regulator is not considered reliable, but the broker does not even have its permission, which is also simply verified.
The Fxamo scam “compensates” for falsification of permits and addresses with colorful descriptions of its advantages. This technique is used by many scammers, and this project is no exception.
The advantages given by the office are considered ordinary “water”. Thus, the size of the spreads has not been established, and even if a leverage of 1:500 is actually provided, in the case of scammers this threatens even faster deprivation of funds at the slightest fluctuation in quotes, regulated by the intermediary himself.
Information about 12 years on the market and management of British law is a complete lie. In fact, the intermediary has no connection with the English authorities, which has been confirmed, and the usual domain age verification shows the following.
It should be pointed out: almost 4 years on the market is quite a long time for scammers, but they still don’t talk about 12 years. In addition, judging by the dates of the responses, the intermediary did not work at first, although the name was registered - almost all of the responses on the Internet were “fresh”.
Normative base
Formally, regulatory documents do not articulate the concept of “LED lamps” (as well as xenon lamps, the nature of the ban on which is identical to diode sources). However, the use of automotive LED lamps is limited by Part 3 of Article 12.5 of the Administrative Code, which reports non-compliance with the design requirements of the car in terms of the number, type, color, location and operating mode of external lighting devices, referring to paragraph 3.1. Russian traffic rules.
Judicial practice suggests that in most cases, traffic police officers are guided by Article 12.5 of the Code of Administrative Offenses when issuing a fine for LEDs and led lamps on the car owner. The punishment includes deprivation of the driver's license for a period of 6 months to 1 year, as well as confiscation of LED lamps due to their non-compliance with established requirements.
Fxamo – scam or not?
It's better to start with resource analysis. The authors write that the organization was opened in 2008 and is considered one of the main brokers. However, if you try to find responses about Fxamo on the Internet, it turns out that they are missing. There is a very simple explanation for this situation: the resource started working only a few months ago and has low traffic. Namely, the scammers lied about their age and reputation.
It is also possible to analyze the permission of a given office. The type of intermediary is managed by the offshore country of Vanuatu, but the management itself is not listed on the web resource, which is quite easy to check. It turns out that the resolution was done in Photoshop and it is meaningless.
Well, the last fact in favor of Fxamo being a scam is the well-known web portal template. This pattern is used by a rather prolific group of scammers who are looking for new Fxamo representatives every month to defraud honest citizens.
Installing LED lamps in headlights
Re-equipping headlights with LEDs is the most problematic issue. For high and low beam, only special lamps with reflectors can be used. Any other option will not be focused by the standard reflector.
Among the budget models imported from China, there is no worthy replacement for halogen lamps yet. Their actual brightness may be higher than halogen, but often the LED does not fall into the focus of the reflector. This reduces visibility and quality of lighting.
Is it worth fooling around? Their cost is quite high, even budget options from China start from $50 per pair. In this case, you risk getting a lamp with lower brightness than a halogen one and, in addition, that does not correspond to the focal point of the reflector.
The low beam of such models is usually quite good, but the high beam does not stand up to criticism. Headlights from Cree and Philips already cost more than $100. Their design is much more advanced than copies from China, but even so there is no guarantee that they will definitely fit your reflector.
Is it worth installing LED bulbs in headlights? There are definitely no Chinese copies. Even if you accept some “shortcomings” in their work, the automobile inspector is unlikely to turn a blind eye to this. Brands are indeed capable of providing a high-quality replacement for halogen ones, but first it is still recommended to look for successful experience in converting similar cars.
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What is the essence of deception?
Under the guise of a CFD intermediary, Fxamo employees offer clients to open deposits for profit in economic markets. But in reality, there is no profit; all funds transferred to this office remain with the scammers forever.
Typically, people register with Fxamo through ads on Facebook and other social networks. Scammers are distributing advertisements about fabulous trading robots Telegram 10, Obshcheye Delo and similar ones. Then, to authorize the robots, you will need to transfer $200-500 to a deposit, which is lost quite quickly.
Another Fxamo deception scheme is trading with so-called managers. On a rigged platform, the user is shown an imitation of trading, and subsequently the user of the type wins a large amount. However, it will not be possible to withdraw this winnings without first paying “tax”, “connecting insurance”, and other fees invented by scammers. Paying for all this, of course, is pointless, since the scam functions only to accept finance, and the income on the account is simply outlined in the program.
In addition, Fxamo managers do not neglect to deceive citizens into obtaining loans and are themselves determined to finance users. The only difference here is that loans from intermediaries have no validity and are considered exactly the same fake as income on the site. But despite this, swindlers use threats of legal proceedings and debt collectors to force victims to pay a fictitious debt.
Real operating conditions of LED lamps
Replacing halogen lights with LED lights in a car's parking lights with regular white LEDs that do not change their color (like decorative lighting or installing LED lighting in the cabin) cannot be regarded as a violation of the light indication mode.
The presence of an LED lamp in the side headlight can only be proven by dismantling the headlight cover; naturally, no one will do this. Therefore, the answer to the question whether it is possible to install diode lamps in dimensions is definitely “YES”.
The main problems arise when installing headlights in headlights. The light beam angle of a conventional LED matrix is about 120 degrees, which is significantly less than that of halogen lamps.
A standard reflector in a headlight is not capable of providing the necessary focusing of the light flux under such conditions; this worsens the illumination of the roadway and can blind oncoming drivers. Naturally, such car owners will inevitably be held accountable.
Today, LEDs in headlights are installed as standard only on electric vehicles and some hybrid vehicles. Therefore, in the operational documentation of the vast majority of cars, the class of LED lamps is missing as such.
How Fxamo Scams: Scam Scheme Review
The essence of the deception is that representatives of the pseudo-intermediary ingratiate themselves with naive users and promise them big money from Fxamo. The charlatans' goal is to convince traders to open one of their trading accounts. Taking into account that trading uses its own platform, scammers can easily draw results to create the illusion of successful activity. Difficulties begin when a person tries to withdraw money. Then his profile is simply blocked.
In the responses, the company’s users describe that they were not allowed to withdraw their earnings under various pretexts. This is how the scammers manage to extract some more money. If the client does not have money to replenish his account, he is recommended to take out a loan. As a result, he ends up in a debt hole from which it is difficult to climb out. Judging by the responses, FXamo representatives will be able to threaten with bailiffs and legal proceedings, driving citizens to depression.
Trading conditions, account types, Fxamo personal account
The list of trading tools provided is quite large. However, it is necessary to take into account the lack of liquidity providers; all proposed contracts are CFDs (transactions for difference). Intermediary trading tools:
- Currency pairs;
- raw materials;
- cryptocurrencies;
- stock;
- jewelry.
To start operating, you must register and open one of the proposed types of deposits. There are only 3 of them among intermediaries.
The minimum deposit amount is $500. Every skilled trader will agree that this is excessive - many other brokers recommend starting with minimum deposits, which is preferable for beginners. Moreover, the broker does not offer to launch a demo account, which also does not add decisiveness.
On the other hand, beginners are recommended to undergo training - either individually or in a group. Naturally, this will require you to leave personal information, which will prevent subsequent annoying calls asking you to open an account.
It's interesting to take a look at FXamo's personal account. At first, there is nothing dubious, but observant experienced clients will immediately notice the method of replenishment - cryptocurrency.
New clients should remember: not a single decent Fxamo representative ever accepts funds on bank cards or cryptocurrency wallets, since brokerage houses do not have the right to do this (only using a current account is allowed). Because of this, the screenshot of the personal account is another confirmation of the charlatan activities of the broker.
Methods for depositing/withdrawing money on fxamo.com
To replenish your account, the pseudo-broker Fxamo recommends using only cryptocurrency (bitcoin). And this is natural, since such transfers are not easy to control. The user is given virtually no opportunity to confirm that he made transfers of company finances.
What is considered a conclusion is that it is practically impossible. In the responses, traders say that the company is preventing this in various ways. For example, it does not want to accept documentation for account verification, which is why clients will not be able to withdraw their own finances.
Exposure
It should immediately be emphasized that the entire myth of the office is one deception. This is a simple resource like an intermediary office. There is no documentation or permits confirming legal activities. Gullible citizens are deceived by stories that the office is governed by English law, etc. In reality everything is anonymous.
A trading platform is just a program that simulates trading. In reality, scammers do not have direct access to real exchanges, Forex, etc.
A real scam pattern. Charlatans persuade you to deposit as much money as possible, then they drain your deposit to 0 or simply block your profile. The user will not be able to return his own money because, first of all, scammers never compensate for finances, and also, you transfer funds to third-party details, in addition, you agree to the terms of the intermediary:
High Risk Warning: CFDs carry a high level of risk and may not be suitable for all investors. A high degree of leverage can work both for and against you. Before you decide to trade trades for difference (CFDs), you need to assess in detail the purpose of your work, your experience and risk appetite. There is a high probability of partial or complete loss of your invested funds, because of this you should not deposit capital that you cannot afford to lose.
They directly tell you that no one will compensate for anything. You are contributing funds that you may lose.
User rights
The authorization form on the FXamo web portal is identical to the authorization form for other intermediaries. The presented office is a new organization of the charlatan group: Timatrade, ImcFx, KeyOnCapital, ForexIm, FxBase, Rickglobal, Cryptoks. They duplicate the same resource. They also completely copy the text of regulatory documentation regulating relations with users.
At its discretion, the office can ask to transfer additional money, and the trader must do this within the specified time frame. Otherwise, the organization has the right to close his trading manipulations.
The FXamo representative will be able to receive the trader’s personal data and creditworthiness information from third parties. In addition, the Company has the right, without prior notice, to present them to its employees, service providers, and other offices that are part of the Organization’s group.
Deprivation of rights for LED light bulbs in street lamps
Let's consider this situation in more detail!
Deprivation of rights under Part 3 of Art. 12.5 provides for punishment for violating the operation of headlights and their color. In this case, judges (cases of deprivation of rights are considered only by the courts) are guided by the main provisions of the traffic rules. They only indicate that the color of the headlights should be yellow or orange, white. There is no mention of taillights. At the same time, the LED lamps in the headlights shine with white light. Thus, it can be considered that deprivation of rights under Part 3 of Art. 12.5 is already illegal.
There is another proof of this fact - in addition to the color of the headlights, the operating mode must also be violated. But in the main provisions for 2021 there are no instructions on the operating mode of the headlights, and the technical regulations indicate that the operating mode can be of two types - constant or flashing (when the lamp flashes). Therefore, if the LED lamp works stably, theoretically the court has no right to deprive the rights. Unfortunately, these arguments only work in theory. In practice, judicial authorities without trial deprive the rights of all car owners who risked installing LEDs in the dimensions, rear PTFs, license plate lights or brake lights.
