Crochet page pushes forex scheme tied to FCA blacklisted broker
A Reddit user warns that a crochet creator is promoting forex trading via Echelon and PU Prime, which they say are linked to an FCA fraud warning. The post describes typical scam red flags like Telegram groups and fake profit calls.
What the original post says“Hey everyone, I’m posting this because I haven’t seen anyone else talk about it yet, but there is a crochet creator is currently sharing some really sketchy forex trading stuff on her stories. She’s saying she’s an "IB" (Introducing Broker) and is sending people to a page called chapteronexau to join Echelon and PU Prime.. But If you look at the Instagram pages being tagged, they are super new accounts with no actual website link. Sketch. They are literally just recruiting pe…”
A Reddit user has flagged a social media crochet page that is reportedly promoting forex trading schemes, pointing to brokers Echelon and PU Prime. According to the poster, the crochet creator, acting as an 'Introducing Broker' (IB), is directing followers to the Instagram pages 'chapteronexau' to join Echelon and PU Prime. The poster claims these pages are newly created, lack websites, and funnel people into private Telegram groups with promises of high returns.
The user investigated further and found that the UK's Financial Conduct Authority (FCA) has issued an official warning blacklisting Echelon Investment Ltd for operating without a license. The poster provided a direct link to the FCA warning page, which confirms the regulatory action. This development raises serious concerns about the legitimacy of the promoted platforms.
According to the Reddit user, the scheme follows a common pattern: victims are moved to Telegram to control communication, the broker (PU Prime) reportedly has no public website and is blacklisted by international watchdogs, and fake 'CEO' calls are used to build trust with victims showing fabricated profit dashboards. The poster warns that because these entities are not registered, investors have little to no recourse if withdrawals are blocked or the operation vanishes.
The poster emphasized the sophistication of such offshore funnels, which often recruit trusted individuals to promote them unknowingly. The advice given is to avoid clicking any Telegram links or engaging with such promotions. For traders, this serves as a reminder to always verify that any broker is properly licensed by reputable regulatory bodies like the FCA, and to be wary of unsolicited investment tips on social media, especially those that push Telegram groups and guarantee profits. If in doubt, consult official regulator warning lists and seek independent financial advice before committing any funds.
This report summarises a third-party post; all allegations are attributed to the original source and are not independently verified by FXCanary. It is not a statement of fact or a legal judgment. Firms may request a correction.