Sallix Capital is a broker coming from St.Vincent and Grenadines. With their operations in the financial market, they presented themselves as the trusted broker. But we all know what offshore countries are used for. However, we won’t jump to conclusions. We have analyzed all the facts about this broker.

Now, without any doubts, you can find in this Sallix Capital review if you can trust this broker or not.

Sallix Capital Is A Scam Forex Broker?

Any company that doesn’t have regulation, doesn’t have monitoring as well. So, they can do whatever they want. Sallix Capital brought these skills to another level. They openly claim not to be regulated. They can’t be regulated by the FSA of SVG because they don’t issue licenses.

But also none of the trusted Tier 1 regulators issued a license to this company. Starting with FCA and BaFin to ASIC. However, they claim to do business according to those and similar regulations. But you can’t find that out unless you test it out. Luckily, we are here to reveal all their dirty tricks.

No regulation and no transparency. Sallix Capital has numerous negative reviews. Untrusted trading platform. Extremely high leverage. No demo account is available

The Opinions of Traders On about Sallix Capital

We are wondering how they don’t have already a warning. But with so many negative reviews, it’s expected to be seen soon.

In fact, on Trustpilot, there are 43 reviews. Almost 50% of those were 1-star-rated comments. Most of them telling the same thing. That this broker is a scam and they don’t allow withdrawals.

Trading Platform and Other Apps on Sallix Capital

As for the platform, Sallix Capital trading company advertises award-winning software. They guarantee the fastest execution, 1000 and more assets and many more basic features.

But if you were looking for advanced EAs or copy trading, you can forget it. Not to mention the lack of algorithmic trading options and advanced indicators. Thus, Meta Trader and cTrader have those options.

What Financial Instruments Does The Platform Include?

Sallix Capital broker covers all 5 main trading categories. But, the transparency of the platform is questionable. Anyway, you can choose between:

• Forex (Currency pairs)           EUR/SEK, CHF/HUF, AUD/HKD
• Commodities                        gold, crude oil, natural gas
• Indices                                  DAX 30, Nikkei 225, Dow Jones
• Shares                                  General Motors, Walt Disney, Amazon
• Cryptocurrencies                   DASH, USDT, TET

Important to realize is that all these assets are available as well with Tier 1 regulated brokers. But the difference comes from higher security and transparency.

Sallix Capital Countries Of Service

As we can see from Sallix Capital reviews, they don’t have many limitations. They are mainly scamming traders from:

• United Kingdom
• Netherlands
• Sweden
• Germany
• France

Firstly, the UK requires an FCA license or TPR. Not to mention the strict Germany BaFin. With all this in mind, you can’t trust that this broker does anything legit.

Sallix Capital List of Account Types

Another key point with every broker is an account-type offer. With Sallix Capital scam broker, you don’t have a transparent minimum deposit. Which leaves them room to pressure you for higher deposits.

As for the benefits, traders get higher leverage, way out of EU regulations limit. Additionally, traders get more sessions with analysts and managed sessions. But for the managed session they should have a license. Practically, nothing that is really benefiting the trader. So, you can choose from:

• Standard
• Advanced
• Platinum
• Expert
• VIP

Can a Trader Use a Demo Account?

Besides live accounts, traders don’t have any other option. Especially not a risk-free option with a demo account. Or at least a micro account.

Instead, you can find a Tier 1 licensed company that offers both options.

Terms of Service for Sallix Capital

Important to realize is that the Sallix Capital scam broker offers a deposit bonus. Yet, they claim to do everything according to regulation. But if they do, they wouldn’t have this option. However, the withdrawal is not permissible unless a volume of 1 lot of the bonus is achieved.  As for the funding methods, the broker remains anonymous.

In fact, as with anything else. Generally speaking, legitimate brokers transparently provide information about payment options and fees. But Sallix Capital scam broker doesn’t. They require you to contact your account manager for funding options. Where they have the option to pressure you for more money. Or even to force you into risky transfers –like crypto. Withdrawal processing time is 5 business days.

Leverage, Spreads and Fees

Another fact that doesn’t go in their favor is leverage. The maximum allowed according to any EU regulation is 1:30. But this broker provides 1:400.  Additionally, spreads advertised start from 0.3 pips. But that’s also a marketing trick. Whereas in reality, you get a much higher spread.

Last, but not least are their fees. They don’t provide any commission or fee information. Yet, through any Sallix Capital review, we can see there are withdrawal fees. The broker uses this cheesy tactic to extort the last penny from its clients. Don’t fall for these dirty tricks.

Scammed by a Sallix Capital Broker? – We Want To Hear Your Story

Firstly, let us know more about your experience with this broker. Since they don’t have a regulator, we must warn the regulator about them. Especially FCA and BaFin. Which are the strictest among their operating countries.

Secondly, you can start a fund recovery process. Our expert team can advise you on the procedure and what’s the fastest way t get your money back. But most likely you will have two options. Chargeback or CipherTrace software for crypto transactions.

What Is the Chargeback Procedure?

In the case that you have used a debit/credit card, you can file a chargeback. But only within the first 18 months of the transaction. That’s why it’s important to act quickly until it’s not too late.

Our specialized team is there to assist you every step of the way. Contact us today and book your first consultation for free.

What Is Sallix Capital?

Sallix Capital broker offers trading services since 2022 from St. Vincent and Grenadines.

Is Sallix Capital a Scam Broker?

Yes. They don’t have any licenses, but they claim to work according to regulations.

Is Sallix Capital Available in the United States or the UK?

Sallix Capital broker scams traders from the UK. But US citizens are safe.

Does Sallix Capital Offer a Demo Account?

No. You can’t trade with virtual funds, but only with real funds on live accounts.

Unfortunately, many users start reading reviews only after falling victim to scams. We sincerely hope that you are not one of them!

However, if you’re here because you suspect that your investment isn’t in a safe place, know that you have the right to claim funds back!

Report a Fraud Case & Claim a Refund from Scammers

Legal Procedures for Recovering Your Money from Scammers Offer a Good Chance of Success. Start by Simply Reporting the Fraud.

File a Complaint

If you look at the Monfex broker website, you realize that their focus is only on trading. However, any important legal information, location, ownership and license are missing.

This broker operates from Saint Vincent and Grenadines, a haven for retail traders, FX, CFD and crypto trading companies. The reasons for going offshore are numerous. From regulations, taxes, anonymity and many more.  On top of everything the company doesn’t provide a customer service phone number where it could be reached.

We already see that this broker is not up to good, and we’ll provide it in this detailed Monfex review.

In addition to the above, we strongly advise you not to invest in WinGroup, Duvaro and BBanc fraudulent brokers.

Is Monfex a Scam Crypto Broker?

Since Monfex operates on FX and CFD markets, they should have a license for it. However, SVG disclosed that they are not an eligible entity to provide such licensing. Monfex broker should comply with some regulations of the countries where they operate.

Therefore, since we, as experienced traders, trust only Tier 1 regulators, we checked the database of FCA, BaFin and ASIC. The results were disappointing. There was zero information about Monfex trading. Now we start building up a conclusion that this is nothing but a bogus scam.

Offshore broker with warnings from a couple of regulators. Mainly focused on crypto trading with high leverage raises the risk of losing money. On top of that, they don’t have any regulations.

Reasons for Using a Regulated Broker for Trading

The regulated broker is not anonymous in the first place. If you get scammed, you have an institution that you can contact and that will do an investigation. If you get scammed by an offshore company, it’s really hard to file a suit against them.

That’s why Tier 1 regulation is the most recommended. On top of that, they will educate you properly on how to trade on the market and give you conditions according to regulations. Monfex broker, on the other hand, offers extremely high leverage, which is not according to ESMA rules.

Red Flags and Warnings from Financial Regulators

This broker already earned some achievements. A warning from financial regulators. One comes from Polish regulatory body, KNF. Another comes from Spain’s regulator CNMV.

Both of these are highly reputable among European brokerage regulators. Keep your money safe and think twice before investing any of your hard-earned money!

Monfex Available Online Trading Platform & Tools

Monfex broker empowers trading with cryptocurrencies. Everything on their website leads at the end to cryptos. We tried looking for access to the platform, but you are not eligible to get there.

According to the broker, they offer a web-based platform that you can access anywhere in the world. It’s already a bad sign. To get access to the platform, you need to register first. Luckily, they have prepared an advertisement video with details about the platform.

It’s nothing but basic fancy software for trading. From what we can see, they only offer a limited amount of cryptocurrencies. Besides that, very few indicators are available and no EAs or social trading tools.

Any experienced trader would say that this platform can’t come near the quality of MT4/MT5.

What Financial Instruments Does Monfex Include?

The company’s focus is on cryptocurrencies. Besides that, they offer a standard package of instruments:

• Forex                        EUR/USD, USD/NZD, USD/AUD
• Commodities             oil, gold, silver
• Indices                      S&P 500, Dow Jones
• Shares                      Microsoft, Apple
• Cryptocurrencies       EOS, BTC, XMR

All of the assets have very high leverages, therefore it’s very risky trading. Moreover, cryptos are very volatile and they tend to wave in one direction quickly in a short period. That could lead you to a huge loss.

Monfex Service Countries

According to Monfex reviews, we can see that they are scamming traders from:

• Poland
• South Africa
• Romania
• Saudi Arabia

Based on the warnings issued by CNMV it’s not excluded that they are targeting as well Spanish customers. Confirmation for that might be their customer service available in Spanish. Be careful!

Also, remember the names of the Trades Universal, DWS Invest and Fin Art Media trading scams and avoid them at all costs! Moreover, always check the background of online trading companies before investing!

Monfex Types of Accounts – An Overview

Unfortunately, this broker doesn’t define any account types. So, as mysterious as it could be. You can only find out by registering with them. 

Of course, after that, it’s too late. You will get numerous calls from them with persuasive agents who will try to scam you.

Monfex Types Partnership – Affiliate Program

The affiliate program goes through a third-party company. Any information disclosed is not private. The goal is that you bring as many clients as you can and you get rewarded for that. 

Looks behind everything like a Ponzi. Don’t fall for such stories and start looking for the regulated broker on time!

Monfex Deposit and Withdrawal Policies

They state in the policy that for deposits you can use a debit/credit card and bank transfer. But for more information check it on the platform. However, on the platform, you see only one button for deposit. It is “DEPOSIT BTC”. So, practically they want transactions anonymous.

For withdrawals, the company states that it can be done only in the method of deposit. Which means crypto. That leads to the conclusion that it’s never going to happen. You can find confirmation in online Monfex reviews.

Monfex Terms and Conditions

Monfex trading is not a regulated broker, therefore all T&Cs are questionable topics. Take everything with a reserve and think twice before depositing any money.

Leverage on the assets is extremely high and not according to ESMA rules. From their presentation, we can see that even spreads are wide.

All in all, don’t deposit any money here if you want to make money!

Scammed by a Monfex Broker? – We Want To Hear Your Story 

Every story is different in its way, but the ending is always the same with brokers like Monfex. Let us hear your story. That way we can assist you on your first step of funds recovery. Contact our experts today and don’t waste more time.

What Is the Chargeback Procedure?

If you were using a credit/debit card you can file for a chargeback. If you used a crypto wallet transfer there is a CipherTrace program. Let us elaborate more on how it works. Book a free consultation with our professionals now!

What Is Monfex?

This is an anonymous and offshore trading company that empowers trading with cryptocurrencies.

Is Monfex a Scam Broker?

Based on all information provided by the broker, warnings from regulators and online Monfex reviews, we can say there could be issues.

Is Monfex Available in the United States or the UK?

Unfortunately, there is no information about the UK clients, so stay safe. But the company discloses that they don’t offer services to US clients.

Does Monfex Offer a Demo Account?

In their video presentation, it looks like they are using a demo account, but we don’t have confirmation is it for clients or only for presentational purposes.

Unfortunately, many users start reading reviews only after falling victim to scams. We sincerely hope that you are not one of them!

However, if you’re here because you suspect that your investment isn’t in a safe place, know that you have the right to claim funds back!

Report a Fraud Case & Claim a Refund from Scammers

Legal Procedures for Recovering Your Money from Scammers Offer a Good Chance of Success. Start by Simply Reporting the Fraud.

File a Complaint

When opening an account with any broker, the logical question is could this broker scam you. In order for you to be sure you are in the right place, we decided to check who ProfiStocks broker is. Read our in-depth review of this company and decide whether you should open an account with them or not.

Regulation and Security

ProfiStocks is an online trading company that claims to have an office in England, UK. However, we couldn’t find any company with this name in the FCA register. If you want to start a legit trading company in the UK, you need to get permission from your business from the UK regulatory body FCA.

In the register of companies, there is ProfiStocks Limited, a company that has an interesting nature of the business registered – Other business support service activities not elsewhere classified. This can definitely not be classified as a brokerage or investment firm. Also, the address that the company stated on the website was removed from the public register because it is inaccurate.

We couldn’t find the information about the funds also. Major red flag for ProfiStocks broker at the very beginning.

In which countries does this broker work?

The broker is operating mainly in the UK. Besides that, the reviews are showing that the broker operates in other parts of Europe, such as Spain, Italy, Belgium, Holland, Sweden, Norway. Besides Europe, the broker is operating in Singapore, Malaysia, Australia, etc.

Seems that there are no restricted areas, according to the ProfiStocks website.

Scammed by ProfiStocks? Chargeback Is Your Solution!

If, despite all the warnings, you got scammed by ProfiStocks broker, do not get desperate. You are not the only one, and there is a solution. And that solution is a chargeback. You need to file a dispute and ask for your money back.

But what is a chargeback? A chargeback is the refund of the card used to pay for a service or product you’ve never got. Basically, if you were a victim of an online scam, you can ask for your money back. Get in touch with us immediately for free consultations!

Is ProfiStocks a good broker?

ProfiStocks is a broker operating without a license and with very bad reviews by its users.

Is ProfiStocks a scam?

ProfiStocks is a scam broker operating with no license.

Is ProfiStocks regulated?

No, the broker has no regulation by any regulatory body.

Where is ProfiStocks broker based?

ProfiStocks is a broker registered under a fake address in England, UK. The address was removed from the register because it was inaccurate. So far, the company has only a PO box in Scotland in the official register.

Unfortunately, many users start reading reviews only after falling victim to scams. We sincerely hope that you are not one of them!

However, if you’re here because you suspect that your investment isn’t in a safe place, know that you have the right to claim funds back!

Report a Fraud Case & Claim a Refund from Scammers

Legal Procedures for Recovering Your Money from Scammers Offer a Good Chance of Success. Start by Simply Reporting the Fraud.

File a Complaint

Coinupit company allegedly belongs to CoinUp. However, there are no registration details or address information available. According to the company, they are running 6 offices around the world with more than 100 employees and 100K+ clients.

Yet, their domain is registered in 2022 according to WHOIS. But there are many more irregularities that you can find in this unbiased Coinupit review.

Legal info: Is Coinupit Legit or a Scam?

In the first place, there are no transparent ownership details. If they are failing to deliver that, nothing better we can expect for regulations. Even though they claim to operate in Malta, the US, Singapore, Japan and Korea we don’t trust them. Primarily, because these countries are strictly regulated and this company doesn’t have any of the necessary licenses.

We tried checking also NFA, FCA, BaFin and ASIC registers to see if they are registered anywhere. But they are not.

Who are Coinupit victims?

For a company that allegedly has 100K clients, it’s strange there’s not even one comment from a client. But do you really believe that a company that started in 2022 could get so many customers? Definitely not. However, analysis says that their victims mainly come from:

• United States
• Canada
• Thailand
• Australia
• China

Let us know what’s your experience with this scam exchange, which is, by the way, not listed on CoinMarketCap. In case you already deposited money with this company, start a withdrawal as soon as possible. With expected issues, you can as well contact our refund team beforehand.

Investment Costs with Coinupit

Important to realize is that the company doesn’t reveal any investment costs. Their web-based platform is not even working. At least not for non-registered visitors. 

Therefore, everything is open for speculation with them. Starting with taker/maker fees, withdrawal fees and other commissions.

Coinupit Trading Features

It’s funny that the company promotes safe, stable and fast service. Thus, many of the things on their website don’t work. Starting with the bogus exchange that they advertise. Generally speaking, how can anyone expect them to create a secure exchange?

Is Coinupit legit?

Not in a lifetime. The company is completely mysterious and operates without a license. On top of that, they don’t reveal any investing relevant details. But don’t be surprised to see transparent companies still scamming traders. One of those you can find in our updated Orotrader Review.

Available Trading Assets

Ultimately, the available assets should be crypto. Yet, their platform doesn’t work and you can’t check what exactly they offer. The only visible detail about potential trading assets is in their footer where they have an intro to buying USDT.

Account Types

Scam companies like this, don’t have any promotions. Their goal is to extract as much money as possible for traders. For that reason, they don’t care to motivate you to trade more with different account types. Unlike some other exchanges offering VIP programs with better investment conditions.

Mobile Trading App

Another key fact about this scam company is its mobile app. Allegedly, the company offers an app for iOS and Android users. However, that app is only available for download on their website. Not through trusted PlayStore or AppStore. Which raises suspicion about the legitimacy of the software.

Demo Account

Same as with any other scam company, they are trying to hide their flaws. For that reason, they don’t offer a demo account. Even though, there’s a brief insight into the software available. It’s a plain web-based platform with limited and basic features. Thus without any real-time data.

Education

As for education, the company only provides a few articles about cryptos. But if you were looking for live sessions or webinars, you should look elsewhere because the Coinupit scam company is not there to teach you but to scam you. 

If you are looking to expand your knowledge about scam tricks, we invite you to check our Ixxen review.

Coinupit Withdrawal

Coinupit withdrawal is science fiction. Without any funding methods or policies available, everything becomes questionable. Not to mention that the company doesn’t have even a word about withdrawals in its T&Cs.

Therefore, multiple issues are expected with the company. Generally, that’s the main reason we always recommend trading with Tier 1 licensed brokers. Full transparency and security are the keys to the trading world nowadays.

Customer Support

More warning signs are coming with their missing contact options. In fact, there are none. So, if you were expecting to get any assistance from this scam company, forget it. With a completely anonymous approach, you can only expect to get contacted once you register. But don’t be surprised if you can’t reach back their phone number.

Key Information To Consider About Coinupit?

In the first place, they are an absolutely unknown company without any credibility. Missing regulations, contact details and trading details are making the experience even scarier. Not to mention all the details missing about funding and withdrawing from the account.

Definitely, you can expect withdrawal issues here. If you do so, contact our refund team urgently. Time is money and your money is in someone else’s pockets. Luckily, even crypto transfers can be traced nowadays with CipherTrace. Get in touch with our team to find out more details.

FAQ Section

What Is Coinupit?

Coinupit is an anonymous crypto exchange claiming to have offices in 6 worldwide countries.

Is Coinupit Legitimate?

No. They don’t reveal any ownership or licensing details, but neither investment costs nor withdrawal options.

How Coinupit Works?

Most likely they have hard-sales adverts and they get investors to deposit with pressure. But we suggest you start a refund as soon as possible. Contact us for more details!

What Are The Red Flags Of Coinupit?

The main red flags are missing ownership and regulation details. Also, non-transparent trading conditions and contact options.

Unfortunately, many users start reading reviews only after falling victim to scams. We sincerely hope that you are not one of them!

However, if you’re here because you suspect that your investment isn’t in a safe place, know that you have the right to claim funds back!

Report a Fraud Case & Claim a Refund from Scammers

Legal Procedures for Recovering Your Money from Scammers Offer a Good Chance of Success. Start by Simply Reporting the Fraud.

File a Complaint

Since October 2023, when this company first started, they have been offering FX and CFD trading services worldwide. Luckily, in less than two months, their intentions are exposed.

In general, at first glance, some might think this company is legitimate. However, our honest Park Financial Consulting review and detailed analysis reveals it all.

Legal Info: Is Park Financial Consulting Legit Or A Scam?

As can be seen, this company claims to have multiple regulations, from offshore ones like IFSC (Belize) to top-tier ones like FCA, ASIC, CySEC, DFSA, and FSCA. Yet, detailed research didn’t bring any results. Therefore, you can consider all their statements fraudulent.

Luckily, the confirmation of that can be found in a recently published warning. Believe it or not, comes straight from the UK’s Financial Conduct Authority (FCA). With this in mind, you know that the company’s statements about full transparency and absolute security are fake.

Who Are Park Financial Consulting’s Victims?

The company has mostly been targeting a few countries in these couple of months. But once you realize these countries have strong regulatory oversight, it’s nonsense trying to scam their citizens. Those countries are: 

• United States
• Poland
• Germany

Regardless of your residence, you are invited to leave your opinion about this company in the comments below. In case you are looking for refund options, our team of specialists is available for consultation.

Investment Costs With Park Financial Consulting

The company claims to have full transparency, isn’t it? Yet, the Park Financial Consulting trading firm does not reveal any trading costs. Overnight swaps, stock trading commissions, and fees are not disclosed. That tells you all about their transparency.

The only thing we trust this company is the leverage offered. Also, that’s another sign they are not regulated. If they are, you couldn’t get the leverage of 1:500 they are offering.

Bonuses

Another key fact is the bonus policy. The Park Financial Consulting Forex brokerage is using various tricks to scam traders. The catch is that traders can’t withdraw any funds generated with a credit bonus. But who determines what’s generated with the bonus? Only this fraudulent broker. Ultimately, you are left with nothing to withdraw.

Park Financial Consulting Trading Features

All the account types just present some fictive benefits traders are allegedly getting, such as contract trading, PAMM Accounts, access to IPOs, copy trading, and more. Yet, without Park Financial Consulting’s regulation and credibility, you can’t trust any of those.

Trading Platform Available

One of the major problems with non-licensed companies is the trading software. Overall, it’s recommended to use third-party solutions. For instance, cTrader, DAX Trader Pro, or MetaTrader. The main reason is high security and transparency.

Sadly, this investment firm doesn’t reveal its technology. But surely, you can expect something that is easily manipulated. In the best case, it is a proprietary web-based platform.

Available Trading Assets

Tradeable assets with this company are another mystery we have to reveal. Even though they claim to offer all the favorite categories, there’s no way to prove that. But if we trust them, traders can expect:

• Forex – GBP/JPY, EUR/SEK, AUD/NZD
• Commodities – gold, natural gas, palladium
• Shares – Amazon, Tesla, IBM
• Cryptos – BTC, BCH, BNB
• Indices – DAX 30, S&P 500, NASDAQ

Account Types

The company’s account types are diversified by the assets available on the selected account. In this case, traders can choose between four regular accounts and a savings account. The regular account types are: 

• Forex + Cryptos – 100 GBP
• Commodities – 10.000 GBP
• Stocks – 50.000 GBP
• Indices – 100.000 GBP

Mobile Trading App

In today’s trading world, mobile apps play a key role in choosing a broker. Especially when you are using social and copy trading features. Wherever you are, you can make your decisions comfortably.

But that’s not the case with the Park Financial Consulting Ltd brokerage. Also, if you read our Otet Markets review, you will see this is a standard pattern among swindlers.

Demo Account

Another key feature mandatory for inexperienced traders is a demo account. But even experienced ones are looking for it lately. Primarily to see if the company is misleading traders about features and tools.

With this in mind, we understand why this company doesn’t offer it. All the secrets must be kept behind closed doors. To see more tips on how to avoid that, check out our detailed Key Way Investments review.

Education

The only thing related to education with this brokerage is webinars. Yet, more details are not disclosed. But you can’t expect anything relevant there with their fake regulatory statements, unknown conditions, and lack of regulation.

Park Financial Consulting Withdrawal

Interestingly, the company claims to process withdrawals after 48 hours upon request. Practically, it can take forever, and they are covered. Be careful of their Partnership Compensation Plans because these might prevent you from any withdrawals.

On top of that,  the company doesn’t reveal any withdrawal fees. So, they can make up any along the way. Same as with other excuses not to approve a withdrawal.

Customer Support

As it seems, the company offers support 24/7. Everyone might think it’s legit with e-mail and a phone number available. Hopefully, Park Financial Consulting reviews will tell us the truth in the future. But with so many lies, you can’t expect professional and supportive customer service.  

Key Information To Consider About Park Financial Consulting

The first and most important detail is that the company is lying about regulations. None of the mentioned regulatory entities issued them a license. Also, there’s a warning from the FCA. Anyone with clear eyesight can spot this scam.

But it’s not the end of the world if you don’t. There’s still a way to recover the funds. One of the options is a chargeback. On the other hand, there are alternative methods available for alternative payment solutions. In either case, you can seek our professional assistance. But primarily, book a free first consultation and explore the options.

FAQ Section

What is Park Financial Consulting?

Park Financial Consulting is a freshly registered FX and CFD trading company with a presented address from the United Kingdom.

Is Park Financial Consulting Legit?

To sum it up, no. They present themselves as a multi-regulated brokerage while in reality, they have zero licenses.

Can I Recover Money from a Scam Broker?

Depending on the payment method, our team would suggest different options. Hopefully, you will have an option for a chargeback. For detailed advice, contact our team.

Unfortunately, many users start reading reviews only after falling victim to scams. We sincerely hope that you are not one of them!

However, if you’re here because you suspect that your investment isn’t in a safe place, know that you have the right to claim funds back!

Report a Fraud Case & Claim a Refund from Scammers

Legal Procedures for Recovering Your Money from Scammers Offer a Good Chance of Success. Start by Simply Reporting the Fraud.

File a Complaint

Norvatix broker is owned by Norvatix Ltd registered in Hong Kong. According to the company, they already have more than 100K happy customers. But with registration in August 2023, that’s practically impossible.

With this in mind, you can already see that the broker is not genuine. But let’s be fair and go through this comprehensive Norvatix review carefully.

Legal Info: Is Norvatix Legit Or A Scam?

Primarily, the company should have a HKMA or SFC license. Indeed, the company mentions its SFC authorization on the website. Yet, it’s not linked to Norvatix Ltd, but to another entity. 

Since the company is targeting mainly France and Belgium, you would expect them to have an AMF or FSMA license. Or at least any Tier 1 regulation like FCA, BaFin or ASIC. Since that’s not the case, now you can freely ignore anything this scam broker claims.

Who Are Norvatix’s Clients?

According to who.is, the website started in August 2023. Yet, the company claims to have 100K customers and a 4.5 average rating on Trustpilot. But all those are bogus lies. Traders that are mainly scammed with those lies are coming from: 

• France
• Belgium

If you were also one of their victims, let us know. Ultimately, our refund team can help you with recovering your money.

Traders Experience

As can be seen, Trustpilot reviews are not as positive as the broker claims. Instead of 4.5, they currently have a 3.6 average rating with 7 comments. But it will get worse and worse. There are already people complaining about withdrawal problems.

So, prepare your nerves if you invest with this broker. Unless you want to apply for a chargeback immediately, where you can contact us for help.

Investment Costs With Norvatix

Important to realize is that this Norvatix scam broker only reveals its leverage. But even the leverage of 1:400 doesn’t comply with any regulations. This primarily refers to Europe where retail traders can get a maximum of up to 1:30. But if you take a look at our Exobit review you will realize why trading fee transparency is important.

Bonuses

In general, bonuses are a great trick for scammers to extort more money from traders. But keep in mind that nothing is for free. Usually, if you look closely, you will see shady clauses preventing you from withdrawing the funds.

Since Norvatix broker doesn’t have T&Cs at all, it’s hard to prove if they have a bonus offer or not. Currently, there are no such promotions on their website.

Norvatix Trading Features

According to the company, they are offering a web trading terminal. However, the page doesn’t work. This is not surprising for such a shady broker. But what you can expect from them is only a basic web trader with minimum functionalities and features. For them, it’s most important that they can manipulate it.

Is Norvatix Legit?

No. Absolutely not. The company is not regulated and they are misleading traders about it. Also, the company is hiding its T&Cs and trading software. Not to mention unknown trading conditions. Practically, wherever you look at you can see they are a fraud.

Available Trading Assets

Tradeable assets with shady brokers are quite irrelevant. Primarily because brokers very often manipulate data. Therefore, you won’t have a realistic picture of your knowledge. Anyway, trading options are: 

• Forex – USD/JPY, AUD/SGD
• Commodities – gold, platinum
• Indices – DAX30, ASX200
• Shares – Walt Disney, Netflix
• Cryptocurrencies – BTC, ETH

Account Types

Norvatix broker offers 6 different account types. Yet, none of it presents you with financial benefits. Only fake support and management features. Anyway, you can choose between: 

• Startup – 500 EUR
• Classic – 5.000 EUR
• Intermediate – 25.000 EUR
• Advance – 50.000 EUR
• Integral – 100.000 EUR
• VIP – 250.000 EUR

Mobile Trading App

It seems that the company advertises mobile apps for iOS and Android. But, that page doesn’t work either. Same as with their regular terminal.

Demo Account

Considering their hide-and-seek game with the software, we are not surprised they are not offering a demo account. But that’s at least another warning sign for you. And to see how important the transparent and trusted software is, read our iTradeFX review.

Norvatix Withdrawal

If you were expecting smooth Norvatix withdrawals, you can forget it. The company doesn’t reveal withdrawal policy, processing time or fees. But nothing more is expected from an unregulated broker. In any case, you have a way more transparent broker to work with.

Customer Support

At least something positive about this broker is their customer service contact options. You can choose from phone, e-mail and web form. But sometimes those phone lines are VOIP services that still keep them anonymous.

Key Information To Consider About Norvatix?

Everything about this broker smells like a fraud. Starting with lies about regulations and their customer’s number. On top of that, there are non-transparent software and trading conditions. Not to mention, missing withdrawal policy and T&Cs.

The best option is to avoid the broker if possible. But if you already got caught with them, don’t worry. Our specialized refund team can advise you on further steps. In less than a minute you can book your first free consultation with us. Don’t waste time and start your funds’ recovery process today! Get in touch!

FAQ Section

Who Norvatix?

Norvatix is a broker allegedly registered in Hong Kong with more than 100K clients. Yet, their registration is fake and they are not licensed there.

Is Norvatix A Scam Or Legit?

Norvatix is a scam broker. Primarily, they are lying about regulations and the number of active customers. But also they hide software, conditions and terms of use.

How To Get My Money From Norvatix?

Withdrawals are excluded from options. The best choice is the alternative refund method or chargeback. But for assistance with those, we suggest you contact our specialized team.

Unfortunately, many users start reading reviews only after falling victim to scams. We sincerely hope that you are not one of them!

However, if you’re here because you suspect that your investment isn’t in a safe place, know that you have the right to claim funds back!

Report a Fraud Case & Claim a Refund from Scammers

Legal Procedures for Recovering Your Money from Scammers Offer a Good Chance of Success. Start by Simply Reporting the Fraud.

File a Complaint

Already 6 years into the business, GOPAX operates under the ownership of Streami Inc. With headquarters in Korea but also offices in Hong Kong and the US, they should present reliability.

There were a lot of ups and downs with this firm. Therefore, to find out if this is the right place for your investments, read our GOPAX review carefully.

Legal Info: Is GOPAX Legit?

Surprisingly, GOPAX exchange is one of the rare ones that know how to run a crypto business. At least legally. The company is indeed licensed by the FSC of Korea with a number 432-87-00120. However, they were on the verge of a disaster in 2021.

According to reports, the exchange was stopping all withdrawals due to subsidiary bankruptcy. Luckily, their owners are one of the biggest creditors in South Korea. Even though the company is a good choice for Koreans, many other countries have far better solutions.

Who Are GOPAX’s Clients?

Since 2017 when the company started, it has been operating worldwide. Mainly with customers from: 

• South Korea
• United States
• India
• Ukraine
• Turkiye

With their business available everywhere, it’s no wonder that Binance wanted to merge with them. Yet, after problems with the SEC, GOPAX backed out of the deal. Therefore, you can see that even the biggest exchanges could have issues.

In any case, we encourage you to share your opinion about the GOPAX exchange. But also to contact us in case you experience any potential withdrawal issues.

Investment Costs With GOPAX

In general, trader and maker fees are quite standard sitting at 0.2%. However, their Trader Program brings you far more favorable conditions. In fact, from -0.01% to 0.02% for makers. But also, 0.02% – 0.05% for takers.

Generally, quite an attractive offer. yet, the conditions are not specified for them. But if you are an institutional investor, market maker, system trader or someone who actively trades at gopax.co.kr you can get it.

GOPAX Trading Features

Important to note is that GOPAX login and other website features can be quite buggy. In any case, this crypto exchange accepts USDC and KRW as the main depositing currency.

Besides high trading volumes and a potential partnership with Binance, there’s nothing spectacularon offer. To recognize the right investment opportunity, we suggest you read our GfxRoyal review.

Trading Platforms Available

Since GOPAX Korea is one of the leading domestic investment solutions, you would expect them to have extraordinary software. Yet, desktop users will have to do everything on a web-based platform.

Luckily, the company has 2FA protection, multi-layered security systems and 24h withdrawal surveillance. Therefore, your account should be safe.

Available Trading Assets

Trading instruments are your last worry if the company is not legit. With a wide range of crypto assets, but also USDC and KRW, you can make quite a positive experience out of this. 

Yet, with limitations to crypto, you can’t expand your portfolio properly.  Anyway, some of the most popular options are: 

• BTC
• ETH
• LTC
• XRP
• DOGE
• SHIBA

Account Types

Practically, the company only offers a Trader Program for better trading conditions. However, detailed requirements are not available. But if you are more interested in an affiliate program, you have 3 different levels of rewards.

Mobile Trading App

On the positive side, this exchange has mobile apps developed for iOS and Android devices. They only have a bit over 100K users on PlayStore, which is not something that represents a highly reliable company. Especially if you compare it to Binance which has more than 50M users on PlayStore.

Demo Account

Important to note is that the company doesn’t have free platform access. Not to mention access to virtual credit that can help you test their trading features. Even though it’s not mandatory with crypto exchanges, it would be a nice touch. Luckily, there is our JAFX review to clarify the importance of it.

Education

This company allows investors to join their GOPAX Academy. It mainly offers crypto-related education. Generally, something that would give you more downsides than benefits. Especially knowing there are tools that can help you in all investment fields. Not just crypto.

GOPAX Withdrawal

Since T&Cs and withdrawal policy are unaccessible this might cause potential issues. Unfortunately, processing time and fees are not revealed by the company. But with their domestic regulation and none of Tier 1, you can’t expect a smooth withdrawal procedure.

Customer Support

As can be seen, the company’s support is not something to brag about. They only provide clients with an e-mail and live chat contact option. On the positive side, the company states to be available 24/7. But if you compare them with some more reliable companies, you will see there are far better choices.

Key Information To Consider About GOPAX?

Even though they appear to be in the top 5 exchanges in Korea, that’s not a sign to follow. Instead, you should opt for more transparent and reliable companies. Especially if you are coming from the US or the UK. In any case, the company has too many flaws for a licensed firm.

Not to mention a lack of any user-experience reviews. Anyway, considering the company’s history you can feel free to contact us for any advice. Especially withdrawal-related ones.

FAQ Section

What Is GOPAX?

GOPAX is a South Korean crypto exchange operating since 2017 with offices available worldwide.

Is GOPAX Legit?

The company is licensed if matters. But that doesn’t make them legit since they already had withdrawal issues earlier. If you have any, feel free to contact us for assistance.

How much does GOPAX charge for withdrawal?

Withdrawal fees are unfortunately not revealed by the company. Therefore, you can never be sure what to expect. If there is anything wrong, contact our chargeback experts immediately.

Unfortunately, many users start reading reviews only after falling victim to scams. We sincerely hope that you are not one of them!

However, if you’re here because you suspect that your investment isn’t in a safe place, know that you have the right to claim funds back!

Report a Fraud Case & Claim a Refund from Scammers

Legal Procedures for Recovering Your Money from Scammers Offer a Good Chance of Success. Start by Simply Reporting the Fraud.

File a Complaint

The first impression of axecap.co would be pleasant, if not for the myriad glitches and mistakes that will make you raise an eyebrow. There’s the overused corporate imagery, low-resolution photos stolen from other sites, frequent spelling mistakes, and a generic plaque for an unknown reward.

Further research will reveal that the broker operates with no authorization, and that they have been in business for a far shorter time than they advertise. See the remainder of our Axecap review for more information.

Not Licensed Even Offshore

AXECAP GLOBAL LIMITED, the company behind the domain, is allegedly incorporated in Belize. Fortunately, we knew better than to immediately believe these claims. Even if the company HQ is located there, IFSC, the jurisdictional regulator has no records of ever licensing them. 

What’s more, the shady platform holds no Tier 1 license, either. We made sure of that by searching through the databases of prominent regulators like FCA, ASIC, NFA, CySEC and BaFin. 

After determining the absence of a license is certain, the situation immediately made more sense. Funds invested with this trading portal aren’t safeguarded through segregated accounts or presence of compensation funds. Forex48 does business under similar conditions, so be sure to avoid them, as well. 

Geo Coverage

According to the data shown on WhoIs, the fraudulent domain has been in business for three years already, and finds the majority of victims in:

• Vietnam
• United States
• Malaysia
• Brazil
• United Kingdom

Reaching targets from any corner of the world is facilitated through social networks like Facebook and LinkedIn. Additionally, every fraudulent scheme employs dozens of boiler room agents to pester targets over the phone. 

With the help of persuasion and unrealistic promises of wealth, their victims are easily convinced to invest. The deposit requirements only grow higher, until the trader asks for a withdrawal. The mask falls off and the investors find out the hard way that all the talk about profit was just lies and fabrications. 

Losing Leverage And Other Terms

As soon as you see a firm offers leverage above 1:30 or 1:50, you can be sure that they do not operate within the legal limits of well-regulated areas. In that sense, this trading portal sets the maximum ratio to 1:500, which is beyond risky. 

Other trading terms like spreads and fees differ from one account type to another. While the starting spreads for the cheapest account type sit at 2.0 pips on EUR/USD, the trading costs for expensive packages are 1.5 pips.

Promotions

To lure in more interested traders to join their illicit scheme, this platform offers various bonuses and rewards. However, the concrete offer is fully visible only to those who own an account. The alleged offer features free trading funds or cash rebates and real prizes.

Lying About Trading Features

Overall trading features seem competitive and comparable to reputable brokerages. As the trend with axecap.co goes, none of this is actually true.

There is no actual trading application to be downloaded on the site. The advertised demo account cannot be created due to a “temporary error” that lasts forever, and the instruments are not really what they seem either.

Non-Existent MT4

Although it will quickly get your attention with the ads, the company fails to deliver the promised software. The promise of providing one of the most popular trading software turns to dust when there’s no download links. 

Additionally, the web shortcut that should lead to the Axecap software actually redirects you to the homepage. The situation is the same when it comes to the promised mobile app. 

Hidden Trading Assets

It’s easy to make empty claims, and this broker does exactly that. If you believe the website, the firm offers 230+ trading assets, but they never tell you explicitly which ones.

If you try to dig up any more information about trading instruments and costs, you’ll get another website error instead.

Here’s what you can allegedly trade through this brokerage:

• Forex (EUR/USD, AUD/CAD, GBP/CHF, USD/JPY)
• Cryptocurrencies (Bitcoin, Ethereum, Ripple, Cardano)
• Stocks CFDs (Virgin Galactic, BMW, Microsoft, Apple)
• Indices CFDs (ASX, Nasdaq, NYSE)
• Commodities CFDs (Gold, Soybean, Natural Gas)

Trading Account Types

The company offers “3 account types, and 12 years of experience”. Does this mean we get a 12 year old account, or that we instantly gain 12 years of experience upon creating an Axecap login?

Jokes aside, live trading accounts are tiered like with the INVcenter fraud. Allegedly, more expensive accounts will have lower spreads, but not enough to justify the expense.

Here’s how much these accounts cost: 

• Standard- $1,000
• Premium- $10,000
• Platinum- $25,000

Inaccessible Demo

This broker does offer a demo, but you can’t get one. You can try as many times as you want, you’ll get a server error. We’ve already talked about that there is no actual MT4 platform, so you can’t count on the embedded demo function either. However you cut it, it’s just false advertising.

Illusion Of Education

It is true that the organization in question tries to appear professional and knowledgeable, but also attempts to make traders feel welcome and taken care of. 

For that purpose, some simple learning tools and useful widgets are offered. These are the economic calendar, trading calculators and market news. However, these are far from what you’d call a rich educational programme. 

Shady Payment System

The Axecap withdrawals aren’t covered with a clear policy document. Instead, only several lines in T&C only clarify that the withdrawal requests are processed within 2 to 7 business days. As for the methods, they seem very diverse:

• Credit Cards
• Crypto 
• E-Wallets

The true availability of these payment channels isn’t verified, since we couldn’t register an account. It wouldn’t be a surprise in the least if digital currencies were the only ones accepted. It is, after all, a preferred transaction channel among all financial swindlers for its anonymity and speed.

No Live Support For Clients

Axecap customer support is allegedly active 24/5, but it features no live support options. There’s no phone number, or a live chat. The only way to get in touch with the company is through a contact form, or email.

We Offer Help!

Every scam victim out there should never accept the fact that they’ve been robbed. Just how there’s a solution to every problem, there’s a way to recover the stolen capital from cyber thieves. If you consult our legal professionals, we can guide you through the chargeback process and advise you in a legal dispute. 

Do not let swindlers have their way, contact us today and book your consultation through the live chat completely free of charge!

FAQ Section

What Is AxeCap?

Axecap is an anonymous unlicensed firm allegedly operating from Belize.

Is AxeCap Scam?

Axecap is a complete fraud with no legal backing to provide any of their services. If you need assistance with chargeback, contact our recovery experts through the live chat.

What Are The Account Types In AxeCap?

The tiered account types are Standard, Premium and Platinum. Although there are some advertisements about Axecap demo, this tool is not actually available.

Unfortunately, many users start reading reviews only after falling victim to scams. We sincerely hope that you are not one of them!

However, if you’re here because you suspect that your investment isn’t in a safe place, know that you have the right to claim funds back!

Report a Fraud Case & Claim a Refund from Scammers

Legal Procedures for Recovering Your Money from Scammers Offer a Good Chance of Success. Start by Simply Reporting the Fraud.

File a Complaint

Merobit.net investment firm appears to be registered as the Merobit LTD in the UK. Even though address and legal information appear transparent, there are some key facts that could make a difference. Starting with regulatory oversight, platform transparency, and much more. 

We suggest you read our Merobit.net review thoroughly. Otherwise, your funds might get trapped before you even notice.

Legal Info: Is Merobit.net Legit Or A Scam?

Since this company is investing the clients’ funds in the market, they must have a license. As a UK company, the first choice should be the FCA. Consequently, they could get some other Tier 1 trusted licenses. Such as BaFin, ASIC, or CFTC, depending on the countries where they operate.

However, instead of a license number, research revealed only a warning against this firm. Nothing less but from the FCA. From the moment you realize the company is not regulated, you can forget about any protection there.

Who Are Merobit.net’s Clients?

Even though they don’t reveal their registration date, who.is database shows at least some details. In fact, this firm has been active only since October 2023. Luckily, in a bit less than two months, their activities were exposed.

Hopefully, Merobit.net scam activities can help other traders avoid falling for the same tricks again. So far, the most targeted countries by this company are: 

• United States
• Trinidad and Tobago
• South Africa

Let us know more about your experience with this investment firm. Ultimately, our refund team can analyze your problem and offer you a solution.

Traders Reviews

Another big sign of a scam is the Merobit LTD reviews. Shockingly, 90% of the comments out of 38 on Trustpilot are negative. Through those reviews, you can easily recognize Ponzi scheme patterns.

All the company’s activities seem to be misleading. Therefore, we suggest you apply for a refund as soon as possible. But also, check our advice from the FinnexBot review and learn how to keep the funds safe.

Investment Costs With Merobit.net

With this investment firm, the only thing traders have to do is deposit the funds. The company would trade in some way on the market, gain profits, and share 5%-6% daily with a client. Yet without any fees or commissions transparently published. In addition, they don’t reveal under what conditions they are trading.

Anyway, it sounds a bit unrealistic to use such services, regardless of guarantees. Especially if those are coming from an unregulated company.

Bonuses

Since the company provides customers with practically free money, the plans do not include bonus offers. In general, this is a positive thing. Definitely, bonuses would be just another trick to swap the attention from a withdrawal to a deposit.

Merobit.net Trading Features

Except for a short motivational speech and video presentation, none of the real features are revealed by the company. Magically, they appear to gain 6% daily in various markets. Of course, deposits can only be made through crypto to get there. Which leaves no trace of the company’s ownership. Smart move, but not that smart.

Trading Platform Avaialble

Generally, none of the Merobit.net investment plans reveal the platform the company is using. In any case, you shouldn’t hand out your money to an unknown firm. Especially not the one exposed by the regulator after two months. 

Instead, opt for Tier 1 licensed firms and choose trusted tools. For more clues, we invite you to read our honest TraderVesta review.

Available Trading Assets

Considering the company’s payment methods, don’t be surprised if they tell you to only trade with cryptos. Even though it’s the fastest-growing type of asset and quite volatile, don’t bite it. Even to trade cryptos, the company should have a license. Anyway, the fully transparent instruments are not revealed.

Account Types

In the company’s presentation, we can only see two account type options. There’s a Starter and Premium account available. The first one requires a $25 minimum deposit, and the Premium traders have to put out $2.500.

On the positive side, deposit cancelation is available on both accounts. However, that would include a 20% cancelation fee. Overall returns for a Starter account are 250% after 30 days. Magically, once you deposit more, you get higher returns of 340% in 30 days.

Mobile Trading App

Accessing your investment portfolio on a mobile device is possible thus, only through the browser and not a dedicated app. But you should keep in mind one simple fact. Web-based platforms can present fictive details.

Demo Account

Unfortunately, free access to the company’s platform and activities is not possible. Neither do they offer any trial period to see if they can match the advertised. In any case, you should keep the control of money in your hands.

Referral Program

The key detail exposing this Ponzi scheme is the Merobit.net referral program. With three different levels, traders can earn between 1% and 5% commission. All they have to do is bring more people in.

Ultimately, such schemes collapse, and the company disappears. Unless you are really satisfied with any service, you shouldn’t recommend any company, regardless of the business.

Merobit.net Withdrawal

The processing time of a withdrawal varies. For initial deposits, it takes up to 48 hours. However, for gained profits and commissions, it is up to 24 hours. The minimum withdrawal amount for the main cryptocurrencies is $10, while for the alternative ones is $5.

Even if the company releases some funds, be sure those amounts won’t be high. But most likely, they won’t release what you want in the end.

Customer Support

To get in touch with the company, you can only send an e-mail. Which is not the most convenient method when you are giving away money. Imagine banks not having a call center. 

Since working hours are not revealed, you can only pray for an answer. But most likely, the response time depends on your request. Whether you are asking to deposit or withdraw the funds.

Key Information To Consider About Merobit.net

Firstly, the company has all the signs of a Ponzi scheme. On top of that, they are providing services without authorization. Moreover, there’s a warning from the FCA. Finally, numerous reviews point out all these problems.

All in all, traders have zero reasons to trust this firm. But if you did, our specialists are there to assist you. Book your first consultation completely free if you want to find out how to recover stolen crypto!

FAQ Section

What is Merobit.net?

Merobit.net is a fraudulent investment allegedly registered in the United Kingdom in October 2023.

Is Merobit.net a Legit Investment Company?

Not at all. The firm is not regulated, there is a warning from the FCA and everything leads to the conclusion it’s a Ponzi scheme.

Is It Possible to Trace Lost Crypto?

Surely. Every transfer ends up in a verified wallet. To find out how to track it down, get in touch with our refund experts.

Unfortunately, many users start reading reviews only after falling victim to scams. We sincerely hope that you are not one of them!

However, if you’re here because you suspect that your investment isn’t in a safe place, know that you have the right to claim funds back!

Report a Fraud Case & Claim a Refund from Scammers

Legal Procedures for Recovering Your Money from Scammers Offer a Good Chance of Success. Start by Simply Reporting the Fraud.

File a Complaint

As a forex trader, you must thoroughly evaluate every online financial trading company before depositing your money. A recommended course of action includes verifying the broker’s trading credentials and regulations, inspecting if there are official warnings against it, and assessing its trading conditions. By doing so, it will prevent being scammed.

Note that global markets are inundated with fake brokers. One of them is Networkfsi. In the following Networkfsi review, we give reasons why this shady brokerage company should not be trusted.

So, let’s start with a quick overview of the Networkfsi broker. First and foremost, it is not licensed nor authorized to operate anywhere. Then, two major financial authorities (CNMV and CONSOB) put it on a warning list. Apart from this, its trading environment is inopportune. Thus, there is no single reason why anyone would want to invest with Networkfsi.

On top of that, we seriously recommend you not to invest in the fake brokers RaiseFX, Fivoro, and Equalpros. Do not trade with these unlicensed brokers if you want to save your money!

Is Networkfsi a Safe Trading Company Or a Scam?

As introduced, Networkfsi doesn’t hold any broker’s license. Not only that it is an unauthorized business but is an exposed scam. All of this means that you can expect nothing but to be defrauded and lose your money to this unscrupulous broker. In addition, pay no attention to positive Networkfsi reviews on the web since they are fabricated to lure you into trading.

Networkfsi is an unlicensed and unregulated broker that is blacklisted by Spanish CNMV and Italian CONSOB. Other than that, it renders disadvantageous trading services based on deception.

Why Is Trading On a Licensed Broker’s Platform Preferable?

Instead of dealing with withdrawal issues and unlicensed brokerage companies, certified brokers offer many advantages. For sure, the most important is its reliability and security of funds. For example, forex providers licensed under FCA, BaFin, and ASIC are regarded as the best in class. That is because these financial market regulators are well-known for stringent licensing requirements. Traders particularly appreciate coverage against bankruptcy by these supervisory bodies, which means that a trader of an insolvent broker can be indemnified with up to 100,000 USD.

The Spanish Regulator CNMV Has Issued a Fraud Warning.

As we pointed out, one of your precautionary measures should include checking if any watchdog has issued a warning against a broker. In the case of Networkfsi, searching the web yields disturbing results. That is to say that this broker appears on the list of fraudsters. First, the Spanish regulator CNMV cautions against Networkfsi. Then, the Italian regulator CONSOB does the same. These two alerts are more than enough for staying away from this fraudulent broker.

What Platform Does Networkfsi Provide Access To?

When it comes to trading platforms, every trader knows that synonyms for the best and safe trading are MetaTrader 4, MetaTrader 5, cTrader, and Sirix, among others. These state-of-the-art programs are widely used because of their reliability, ease of use, versatility, and advanced features (social trading, stop loss, automated trading, etc.). They allow you to copy most successful traders, prevent losses, and execute orders quickly, to name a few benefits.

Speaking of trading software provided by Networkfsi, it is a web trader that can’t hold a candle to the above-mentioned programs nor can it ensure successful trading.     

Mobile App & Tablet

In the matter of trading on cell phones and tablets, it is possible thanks to the adaptability of modern trading platforms (above-named). This enables traders to trade on the go without expense at serviceability. Thus, all legitimate brokers utilize this feature along with their proprietary mobile trading apps available on Google Play Store and Apple Store. In relation to a web trader offered by Networkfsi, its functionality on mobiles and tablets is as poor as on desktops.

What Do We Know About Networkfsi Account Types?

Regarding trading accounts at Networkfsi, there are the following types.

• Green: investment up to 5,000 EUR
• Premium: up to 25,000 EUR
• Platinum: up to 50,000 EUR
• Executive: up to 100,000 EUR
• Presidential: up to 250,000 EUR.

To start trading at Networkfsi, you must deposit a minimum of 250 EUR. When it is compared to the offer of legitimate brokers, it is several times higher. For instance, with some of the best brokerage companies, you can open a live trading account for as low as 5 USD.

As for trading instruments, Networkfsi reportedly enables the following.

• Forex: EUR/USD, USD/CAD, GBP/CHF
• Crypto: Bitcoin, Litecoin, Ripple 
• Indices: S&P500, DAX30, FTSE100
• Shares: Facebook, Amazon, Microsoft 
• Commodities: gold, wheat, crude oil.

Does the Broker Offer a Demo Account?

Unquestionably, a demo account option is extremely useful, especially for beginners. It allows you to practice trading with no costs and risks. Also, with this option, you can test the broker’s trading environment and trading platforms. Although a demo account gives many benefits and is available at Networkfsi, it is pointless to open it here as this dishonest scam broker will take any opportunity to defraud you. Therefore, if you need to practice trading, choose a demo account version at credible forex providers.

Areas Of Networkfsi Scam

With reference to which countries Networkfsi operates in, as verified, it is not accredited to render online financial trading services anywhere. It operates illegally, scamming traders from

• Spain
• Albania
• Switzerland
• UK.

Bear in mind that all brokers must be licensed under respective financial market regulators to legitimately operate. A broker’s regulation can easily be checked by determining its jurisdiction and then of a relevant authority. 

Also remember the names of the MorganFinance, MilleniumOne and Firmon trading scams and avoid them at all costs! Moreover, always check the background of online trading companies before investing!

Leverage, Spreads, and Fees

In relation to leverage, this illegal broker has set a leverage ratio at 1:200, which goes against the ratio of many jurisdictions. Although leverage is an excellent instrument for making profits, it is also risky and requires considerable knowledge. That is why many financial authorities limit leverage for retail traders (1:30 in the UK, 1:50 in the US). 

With regard to spreads, they determine how much traders are charged for trading (plus trading commissions). Networkfsi offers different spreads, depending on the type of accounts, ranging from 2.5 pips to 0.5 pips. As regards trading fees, they are not revealed. However, since this broker is untrustworthy, don’t expect fairness.

What Is Known About Networkfsi’s Trading Conditions?    

Concerning Networkfsi trading conditions, let’s take a look at the funding and withdrawal process. As per its website, this bogus broker accepts credit and debit cards, bank transfers, and electronic wallets (Neteller, Skrill, and Fasa Pay). Ironically, this proven fraudster claims that its policy regarding depositing and withdrawing is in accordance with anti-fraud law. We are sure that transferring your money to Networkfsi is not an issue since this financial swindler can’t wait to get hold of your money.

However, there are no withdrawal guarantees with this pure broker scam. Anyhow, find out in the next heading what you can do if you are ripped off.

Scammed by Networkfsi Broker? – Let Us Hear Your Story

While on the subject of online trading scams if you are a victim of Networkfsi, you should know that getting your money back is possible. All victims need to notify the relevant authorities and warn other traders. Also, don’t feel embarrassed about reporting the scam since anyone can be defrauded. Remember, think twice before investing money with any broker.   

But What Is A Chargeback?

If you asking how to get refunds, then the answer is through a chargeback. This method depends on the payment gateway. For example, you can apply for cashback with VISA and Mastercard, but it must be done within 540 days. Likewise, wire transfers can be canceled, yet, it is doable only if you haven’t confirmed a transaction. 

Lastly, fraudsters like Networkfsi supports only crypto wallets for deposits since crypto payments are challenging to trace and reverse. Nevertheless, our company can help you retrieve your money even if crypto payments. Thus, contact our chargeback experts for more info and free consultation.

What Is Networkfsi?

It is yet another trading scam operating unlicensed and unregulated.

Is Networkfsi a Scam Broker?

The firm is an obvious scam, exposed by CNMV and CONSOB.

Is Networkfsi Available in the United States or the UK?

Yes, it is, still, it isn’t authorized to provide services in any country.

Does Networkfsi Offer a Demo Account?

Yes, it does, but since Networkfsi is an outright scam, a demo account is worthless.

Unfortunately, many users start reading reviews only after falling victim to scams. We sincerely hope that you are not one of them!

However, if you’re here because you suspect that your investment isn’t in a safe place, know that you have the right to claim funds back!

Report a Fraud Case & Claim a Refund from Scammers

Legal Procedures for Recovering Your Money from Scammers Offer a Good Chance of Success. Start by Simply Reporting the Fraud.

File a Complaint