Reddit User Warns of Forex Scam Linked to Echelon and PU Prime
A Reddit user reports that a crochet creator on Instagram is promoting forex trading through Echelon and PU Prime, directing followers to private Telegram groups. The user says Echelon Investment Ltd is blacklisted by the UK FCA, and claims the scheme involves fake profits and blocked withdrawals.
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…”
According to a Reddit user, a popular social media crochet page has been promoting forex trading opportunities that may be part of an illegal scheme. The user claims that the creator, acting as an 'Introducing Broker,' is directing followers to join Echelon and PU Prime via a page called 'chapteronexau.'
The Reddit post states that the Instagram pages tagged are new and lack credible websites, and that followers are being funneled into private Telegram groups with promises of high returns. The user further alleges that the UK Financial Conduct Authority (FCA) has issued a fraud warning against Echelon Investment Ltd for operating without a license.
The post describes typical red flags: a 'black box' Telegram group where dissenting comments are deleted, a broker (PU Prime) with no public website, and pressure from 'CEOs' who call and show fake profit dashboards. The user warns that because these entities are not regulated, victims may have no recourse to recover funds if withdrawals are blocked or the operation disappears.
While these allegations have not been independently verified, they echo common patterns observed in offshore forex scams. Traders should always verify that any broker is registered with a recognized financial regulator, such as the FCA, ASIC, or CySEC, before depositing money. They should also be wary of unsolicited offers on social media, especially those that direct them to messaging apps like Telegram.
If you or someone you know has been approached with similar investment offers, consider checking the official FCA warning list and reporting suspicious activity to the relevant authorities. Always remember: if an opportunity seems too good to be true, it likely is.
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.