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Liquidators are hoping to claw back cash for "vulnerable" Australians who lost tens of millions with a trading company likened to something out of the Leonardo DiCaprio film The Wolf Of Wall Street.To get more news about forex original news, you can visit wikifx.com official website.

But in another twist straight out of Hollywood, the liquidators will need to go after a parent company believed to be domiciled in the tax haven Gibraltar.

The activities of Forex Capital Trading (ForexCT) were first revealed by the ABC in 2019.The firm engaged in forex trading, which is a highly complex and risky form of investment that involves pitting one currency against the other in a series of micro-trades.

After revelations of large client losses, corporate watchdog ASIC cancelled ForexCT's Australian financial services licence in 2020 after finding it engaged in "unconscionable, misleading and deceptive conduct".ASIC noted that former account managers had likened its culture to Martin Scorsese's black comedy The Wolf Of Wall Street, which is based on a biographical book of the same name about boiler room tactics in the United States.

"A bell or a gong was rung when clients deposited funds of certain amounts into their trading accounts," ASIC found about ForexCT.Dubbo-based man Lindsey Rankmore is one of the estimated 11,000 people who handed over money to ForexCT.

Mr Rankmore told ABC News that he first put money into ForexCT in 2018 after doing a search on the internet about how he could trade in shares.He had put his details into forms on social media and websites and said he was contacted by a ForexCT trader on the phone.

"They basically got all your contact details straight away," Mr Rankmore said.He initially handed over $500 to create a trading account with ForexCT.

"Once they started giving advice, I thought: they know what they're doing. You started building a slight amount of funds," he said.ForexCT sought to voluntarily wind down its Australian operations in mid-2021 after it was fined by the Federal Court, and liquidator FTI Consulting was appointed to manage its affairs and creditor claims.

One of the joint liquidators, Daniel Woodhouse, told ABC News that they believe thousands of ForexCT clients lost at least $77 million between them with ForexCT."They were vulnerable and unsophisticated investors, generally speaking," Mr Woodhouse said.Mr Woodhouse likened ForexCT's trades to when an individual goes to bet on a horse at the Melbourne Cup."If you win, the bookmaker loses. If you lose, the bookmaker wins, but at no point do you ever own the horse.FTI Consulting was given permission last month by the Federal Court to contact the 11,000 people it has identified as having traded through ForexCT.

In an automated letter seen by ABC News, FTI Consulting asks former customers to lodge losses formally, so that it can seek money from ForexCT's holding company, Invesus.

FTI Consulting claims it has a letter of assurance from Invesus that it will provide financial support to meet any debts incurred by ForexCT.