Knowing what to look for in a broker can make a whole lot of difference. For instance, this firm claims to be registered in the UK. They even provide a registration number. But the ones who know where to look will find the truth.

However, we are here for all traders who just want to quickly discover if they can trust a broker or not. If you find this Trade Galactica review helpful, let us know. But also, don’t miss out on our review on Nordic CT. You might find some bonus tips.

Legal info: Is Trade Galactica Legit or a Scam?

Trade Galactica brokerage is far from legitimate, to be fair, straightforward. Firstly, any broker in the UK must have an FCA license or be registered on the TPR. Yet, this brokerage doesn’t. Secondly, if they are trying to be legitimate, they could get any other tier-1 regulation. For example, CFTC, BaFin or ASIC.

Without these, you definitely can’t expect this company to comply with everything they say, but only to things that go in their favor. With such business practice, this company has earned a warning. It’s coming from the other part of the world – Canada. The institution that was breaking the ice was the Nova Scotia Securities Commission (NSSC).

Who are Trade Galactica’s Victims?

Generally, Trade Galactica reviews reveal a lot. Primarily, this firm is targeting some countries that are listed as restricted due to applicable laws. Some of those countries are: 

• Canada
• Switzerland
• United Kingdom
• United States

All countries with highly reputable regulators. Still, traders opt for unregulated companies for some reason. But if that was you, let us know and share your experience with us. Ultimately, our refund team can build you a strategy for funds recovery if that experience is not good.

Traders Reviews

In general, more than 25% of traders have some complaints against this company. Currently, there are 83 comments on Trustpilot, and the positive comments are getting overnumbered.

Traders were mainly facing withdrawal problems, constant pressure from agents to deposit more money and support contact issues. If you were experiencing something different, let us know in the comments below. Also, you can contact us directly for quick feedback and advice.

Leverage, Commissions, Spreads, Fees and Taxes

Important to realize is that the company is not revealing any of the trading conditions. Primarily because they know if they reveal their leverage, they will get exposed even faster. Simply because all UK brokers can offer a maximum of 1:30 to retail customers.

Thus, the most disturbing fact is that none of the costs are transparent. Therefore, the broker can make up anything they want. Still, inexperienced traders might bite it and pay the sum.

Bonuses

Another key issue is that the company is offering a welcome bonus of up to 35%. Even though it doesn’t sound like a lot, it is.

Primarily because traders have a requirement to reach the trading threshold of the bonus amount times 20.000. Otherwise, they can’t withdraw any bonus funds, including profits generated with the bonus. But guess who decides what’s generated with the bonus? Only Trade Galactica scam broker.

Trade Galactica Trading Features

One of the main advantages of this firm is the Trade Galactica MT5 platform. But even that is suspicious at some point because the company doesn’t provide download options. Instead, they guide clients to the login terminal. Sadly, a demo account is not available, and the platform remains questionable.

Another key issue is that the company is mainly promoting suspicious remote-controlling apps, such as AnyDesk, TeamViewer, and ScreenLeap. Bear in mind not to allow them any access to your devices.

Trading Platforms Available

If there is MT5 available, traders won’t have to worry about manipulation. In any case, with MT5, traders would enjoy all of the advanced benefits the platform offers. If it’s available in the first place.

However, if the broker offers you a proprietary web-based platform, you better run. These platforms are the best tools and something scammers are dreaming of. Primarily because traders don’t even realize what’s happening.

Available Trading Assets

Another surprising thing about this company is its lack of transparency about tradeable instruments. Still, if the company was regulated, this would matter. This way, it doesn’t. 

Therefore, you can start looking for other brokers already. But first, check our PNX Finance review to avoid other traders’ mistakes.

Account Types

As can be seen, Trade Galactica account types offer various benefits but at different stages. The benefits solely depend on the amount you have deposited. However, all benefits without regulations can be considered hypothetical. Therefore, traders can choose: 

• Starting – $2.500 
• Basic – $10.000
• Standard – $50.000
• Bronze – $175.000
• Silver – $600.000
• Gold – $1.000.000

Mobile Trading App

Generally, the MT5 mobile app is one of the best in the industry. Quite user-friendly, optimized, and fast. Not to mention that traders don’t lose any functionalities. However, links to trusted stores for it are not available on the company’s website.

Demo Account

Considering that Trade Galactica’s minimum deposit starts at $2.500, a demo account would be a suitable feature. Yet, they don’t offer it. Either because of insanely high costs or because they don’t offer MT5. All in all, it’s not good.

Education

In fact, there is some kind of education available with Trade Galactica scam broker. It’s divided into beginner, advanced, and crypto VODS. Overall, nothing that you can’t find yourself.

Trade Galactica Withdrawal

On average, the withdrawal process should take between 7-10 business days. Thus, many clauses in the withdrawal policy will most likely prolong that time. Not to mention that only crypto transfers are available without transparent fees. All in all, the perfect soil for manipulation is prepared.

Customer Support

Even though the company’s support might appear legitimate, don’t rush. Nowadays, phone lines are often obtained through VOIP services. Therefore, untraceable. 

Instead, you should opt for companies with landlines. Not to mention, this brokerage is offering traders WhatsApp and Telegram contacts. Both are encrypted and safe, so they are not exposed.

Key Information To Consider About Trade Galactica

Firstly, the company is not licensed in the UK. Fairly, that should be enough. On top of that, the company is offering a hidden platform, and hidden conditions and has a malicious bonus and withdrawal policy.

Anything that could go wrong will go wrong with this scam broker. But when it happens, our chargeback specialists are available for consultation. Don’t miss out on the chance to get your funds back. Get in touch now.

FAQ Section

What is Trade Galactica?

Trade Galactica is a fake brokerage offering FX and CFD trading services allegedly from the United Kingdom but without legal registration.

Is Trade Galactica a Legitimate Broker?

Not at all. They are not licensed in the UK or anywhere else. Also, there is a warning issued against them by the Nova Scotia Securities Commission.

What is a Chargeback?

Chargeback is a method for card transfer reversal in case the customer files a complaint for a scam. If you want to get your money back, get in touch.

After several years of disappearance, this old brokerage fraud decided to come back to life and steal more cash from Forex investors. Today, the website claims to offer security, speed, optimized tools, and most competitive pricing to elevate your trading journey. None of that stands, however, considering that the firm is still as illicit as ever.

Read this BnbTrades review to learn more about what had previously caused this domain to go inactive and then revive again.

BCSC Caused the Previous Shutdown

The BnbTrades Forex scam has an interesting history. As soon as the website was established in 2015, it was blacklisted by BCSC which is why the fraudsters went off the grid. 

However, several years later, the website went live again, this time claiming to operate out of the UK and under full regulatory supervision. The address published on the site is most probably fake, as the firm is not found in the FCA register of licensed broker dealers. Moreover, the firm is not regulated by any other diligent regulator, like BaFin, CySEC, NFA, CNMV and FINMA.

Read our AEFOREX review to understand why transparency and proper licensing mean for fund safety, compensation options and risk reduction. 

Passive Income as the Main Bait

By promoting high returns and stable income, the broker’s ponzi scheme grew bigger by the day. Their scam operators usually posted on social networks, such as LinkedIn, and advertised great conditions for earning via an affiliate bonus.

The BnbTrades broker has been attracting victims this way since the domain was again initiated in 2021. Fraudsters usually focus on the more developed nations to find new victims. By that we mean countries like:

• Switzerland
• Germany

This is an illustrative example of how promises of guaranteed income are nothing but a lie that turns Forex traders into financial hostages. Refrain from investing cash into such schemes and contact our legal advisors for help with money recovery.

Artificial Reviews Increase Popularity

So far, BnbTrades reviews can only be found on Trustpilot. Current total of 28 reviews makes for an average rating of 4.5 stars. This is unrealistic and doesn’t resemble the actual quality of service. 

However, it is characteristic for the  fraudsters to try and come off as legit, credible and trustworthy. They achieve that with the help of review selling networks. If the clients’ opinions were honest, the average rating would be no better than that of another fraud –  X-F24.

Unimpressive Trading Fees

Clients that wish to start off with the cheapest package are faced with pretty high trading costs which include starting spreads of 2.8 pips. More expensive accounts unlock lower spreads of just 0.1 pips, but these will cost you an arm and a leg. Leverage, on the other hand, gets higher with the account price and the higher ratio is 1:400.

The BnbTrades scam overcharges the inactivity on idle accounts by automatically deducting $100 monthly. Other charges aren’t revealed, but this is a blacklisted firm and you can expect countless minor fees and commissions.

Poor Performance Expected

We can confidently say that opting for a BnbTrades login brings zero benefits or advantages. This online trading portal can’t even compare to industry leading brokerage platforms. Keep reading this review to find out why.

Generic Web Software

Quick registration procedure opened the way to the BnbTrades app which is nothing but a rudimentary, bogus online trading terminal. Frequently used by blacklisted companies, these unreliable portals present counterfeit data and are completely untrue to the market conditions. 

You can’t possibly trust such rigged software to show true profit or price fluctuations when you know it’s being controlled by the con artists.

Tradable Assets Assortment

Only a couple of groups of standard and most popular trading instruments are supported by this firm:

• Cryptocurrencies – BCH, BTC, TRX
• Precious metals – Gold, Silver, Platinum
• Forex – EUR/USD, USD/CAD, USD/NZD
• Shares – BMW, Johnson & Johnson, Alcoa
• Indices – Dax, Dow Jones, Nikkei
• Commodities – Coffee, Sugar, Wheat

Prices Make no Sense

Every single BnbTrades account is absolutely overpriced without a single reason. Considering the whole offer is provided by a company labeled as a scam by a regulator, there’s no way any of the alleged features are there. Nonetheless, the pretentious cybercriminals behind the company dare to demand these deposit amounts:

• Bronze – $12.500
• Silver – $25.000
• Gold – $75.000
• VIP Platinium – $150.000

Anonymous Transfers

The only accepted monetary channel is crypto. Users can submit their BnbTrades withdrawal request through the user dashboard, but can only select between several crypto coins (Bitcoin, Ethereum, Tron). 

Despite that, legal papers claim that there’s also credit cards available and these transfers require a minimum amount of $50 to be completed. Because of such opposing information, it is clear that this brokerage cannot be trusted!

Quick Replies Promised

This company claims that they have assembled a professional customer support team which is available 24/7 for all client inquiries. At that, the crew is supposedly so competent and fast that they can quickly reply to any question. Unfortunately, this turned out to be a blatant lie, considering that our appeals never got an answer.

Get Your Investments Back!

Dealing with financial fraud is never easy, especially how ruthless con artists can be in their deception. If you’ve found yourself in a seemingly unsolvable situation, please don’t hesitate to contact us at any time.

Our professional chargeback team is always at your disposal to advise you and help you with cash recovery. Book your free consultation with our experts and find out how you too can get your stolen capital back from scammers.

FAQ Section

What is BnBTrades?

This firm is run by anonymous Forex trading charlatans and schemers that promote quick gains.

Is BnBTrades Legit?

No, the conduct was even blacklisted when it was first initiated in 2015.

Who Owns BnBTrades Broker?

It remains unknown who is the real owner of this fraudulent entity. If you too are having issues with withdrawal requests, please contact us for help promptly.

Dracomi trading firm is one of those who don’t hesitate to do anything to achieve success. They are even prepared to forge documents to make themselves look legit. Thus, traders always wonder how we can know.

These days, it’s quite easy to analyze all the information any company gives you. If you can’t find clues, then simply don’t invest with them. Luckily, after this Dracomi review, you will realize it’s all clear with this broker.

Legal Info: Is Dracomi Legit Or A Scam?

If you look at the company’s numbers, licenses, and even trading conditions, you can realize it’s nothing but a scam. First, they claim to have 136,000 users, yet there are zero Dracomi reviews. Second, the company claims to be registered in Cyprus, yet the T&Cs reveal it’s in Vanuatu.

Lastly, but most importantly, the company claims to have four top-tier licenses: FCA, ASIC, CySEC, and DFSA. However, checking those databases doesn’t yield any results about Dracomi Ltd. The only thing we could find was a warning from the Russian Central Bank.

Who Are Dracomi’s Victims?

Even though the reviews practically don’t exist, it’s not that hard to find out who this firm’s victims are. As can be seen, their features are mostly advertised in countries like: 

• Saudi Arabia
• Germany
• United States
• Australia

Similarly, you will realize that brokers like SIGEN and Bitetoro also target wealthy countries. The goal is to find a few rich people that would finance their scam activities. So, if you get lured into those traps, reach out to our refund experts for advice about chargeback options.

Leverage, Commissions, Spreads, Fees and Taxes

It’s important to realize that the only transparent detail about trading conditions with Dracomi broker is the leverage. However, that’s enough to prove they are not licensed anywhere. For instance, ASIC, FCA, and CySEC allow brokers to offer a maximum leverage of 1:30 for retail users. In this case, it’s 1:500. Besides, there’s no negative balance protection.

In addition to that high risk, the company doesn’t reveal any fees or commissions. Therefore, you can only hope there will be anything to withdraw in the end.

Bonuses

On the positive side, imagine there are some, the company doesn’t offer any bonus deals. At least they don’t mention them. But if you get such deals offered, make sure to decline them. Otherwise, your funds might be trapped forever.

Dracomi Trading Features

Once you realize the company mainly advertises automated trading features, you will know they are not up to good. With their API key feature, you can integrate different features and systems into your strategy. Thus, with the company’s credibility, we wouldn’t trust those features much.

Trading Platforms Available

Another huge disadvantage of Dracomi trading firm is its web-based platform. That’s a perfect soil for manipulation. With easy access to the back end, they can make it look like you are winning. Or even losing, depending on what they want. Some of the advanced features they promote are basic options with trusted platforms like MetaTrader.

Available Trading Assets

Generally, with solid instruments offered, the Dracomi Forex company can compete with others. Thus, with poor security, their whole offer becomes practically meaningless. Anyway, you can trade: 

• Forex – EUR/NOK, USD/CHF
• Indices – NYSE, ASX200
• Shares – IBM, AMD
• Cryptos – ETH, TRX
• Commodities – gold, silver

Account Types

To make traders deposit more money, scam brokers usually have fictive benefits on the table for users. In this case, those are deposit insurance and protection, but also 24/7 support. To simply avoid these cheesy tricks, choose top-tier licensed firms. 

In any case, you can opt here for three options: 

• Basic – $150
• Standard – $1.000
• Exclusive – $10.000

Mobile Trading App

Another big flaw of this broker is a lack of trusted mobile apps. Therefore, if you are a fan of trading from wherever you are, prepare your nerves. With their potentially unoptimized platform, you can expect a lot of issues.

Demo Account

To be fair, if the company wanted to be transparent, it would offer a demo account. After all, that’s a common thing with licensed brokers. However, with that feature missing, they prove again that they are lying.

Education

More benefits of FCA, ASIC, and CySEC licensed firms can be found in educational programs. Such companies tend to educate traders properly so they can collect commissions from their trades.

The goal is to make them trade more and more. But if they keep losing, they won’t be trading. Sadly, with this so-called “regulated” broker, there are zero educational programs available.

Dracomi Withdrawal

The most important issue we have to solve is the Dracomi withdrawal. With unclear withdrawal policy and cheeky verification statements, you can certainly expect long delays. Apparently, they are processing withdrawals within 2 business days. Thus, with their many lies, we highly doubt it.

Not to mention, the company claims they will charge a commission, yet the commission is variable. We strongly advise you not to pay anything.

Customer Support

If you have any questions about your Dracomi account, you can try your luck with the company’s support. E-mail, phone, and a web contact form are available for inquiries. Thus, without transparent operating hours, you might be waiting for a long time for some response. 

If you are looking for withdrawal assistance, don’t be surprised if your Dracomi login details stop working out of nowhere.

Key Information To Consider About Dracomi

The key problem with this brokerage is misleading information. All licenses they claim to have are completely fake. So, you have zero reasons to trust them. 

If you have discovered all these details after the deposit, we suggest you immediately apply for a refund. If you have any fears about it, please book a free first consultation with our specialists.

FAQ Section

What is Dracomi?

Dracomi is an FX and CFD trading firm founded in 2018 that has been operating from Vanuatu.

Is Dracomi Legit?

No. The company misleads traders with fake licenses allegedly issued by FCA, ASIC, DFSA, and CySEC. The Russian Central Bank has also warned against them.

Who Owns Dracomi Broker?

Dracomi broker is owned by Dracomi Ltd, which is registered in Vanuatu. To recover money from this scam broker, feel free to contact our chargeback team.

We have seen this exact website countless times in our scammer hunts. The Dexspacex exchange is a foul scheme run by a notorious group of anonymous cyber criminals. Since we’ve exposed them before, there’s no reason to turn a blind eye to them now.

Hence, read our Dexspacex review to learn how this unscrupulous crypto hoax works and which red flags you must look out for. We also offer our fund recovery services if you have fallen prey to the likes of Dexspacex and FXCess. 

Legal Info: Is Dexspacex Regulated?

Dexspacex misrepresents itself as an Australian slash Maltese entity. This is highly dubious, as there are strong signs that these operators aren’t registered anywhere. The shady website has provided no evidence of undergoing any vetting required by legitimate financial services providers.

Trusting these fraudsters carried immense risk. You are better off avoiding dealing with the Dexspacex scam and opting for proper crypto exchanges.

Rather than entrusting your hard-earned assets to unlicensed providers, we recommend you do business with firms regulated by prestigious financial authorities such as the FCA (UK), the European Securities and Markets Authority (ESMA), CFTC (US), ASIC (Australia), or IIROC (Canada).

Trader Reviews – Sharing Experiences

We did not find any Dexspacex reviews from traders or investors. We only saw other analyses that reaffirmed our stance on this scheme. There are a couple of them online. Along with our honest review, they expose the shady crooks and their foul intentions, signaling potential Dexspacex login issues and withdrawal problems.

All the elements of a virtual scam are present. Before making a risky online investment, check what regulators and users say about a platform or website to ensure its trustworthiness.

Who Are Dexspacex’s Targets?

According to WHOIS, the dexspacex.com website domain was created on October 17, 2023. Since then, the crypto black hats behind the exchange have mainly been providing illicit services to investors who reside in the following countries:

• United States
• France
• Italy
• Turkiye

These states are known for their strict financial regulations and vigilant watchdogs who closely monitor the markets. The U.S., in particular, is highly demanding and carefully examines participants to prevent fraud. Digital con artists like Dexspacex and NovaTrades have no room to operate.

How the Crypto Platform Works

We failed to find the Dexspacex app for mobile or desktop devices. The exchange operates solely through a web-based platform with elementary tools and an unpolished interface, lacking advanced features that make crypto trading efficient. However, its fraudulent status and shady background jeopardize users’ funds.

We recommend avoiding the platform altogether. Instead, choose providers that support reputable third-party software like MetaTrader 4, MetaTrader 5, or cTrader. These platforms offer advanced tools such as automated trading, live market reports, fast execution, and excellent charting capabilities.

Fee Structure

We just found an empty table when we opened the “Fees” page on the exchange’s website. There was no information about the Dexspace fee structure, trading commissions (maker/taker fees), or the charges for deposits and withdrawals.

The site only mentions that the “first trades,” whatever that means, are free of charge. How many trades are there? When do the commissions start? These are logical questions, but the only natural conclusion is that the platform is unreliable.

Customer Support

The website lacks a customer support page, directing users to a superficial FAQ section. Dexspacex has no social media accounts and provides neither a phone number nor an email for contact.

This glaring lack of transparency and care signals disregard for user trust. If you value your assets, avoid sending money to this platform.

Funding Options and Refund Methods

The website doesn’t disclose which payment methods are accepted, making it unclear how to deposit or a Dexspacex withdrawal. This lack of information is yet another red flag. Here’s how you can retrieve funds sent to these virtual tricksters using standard payment methods: credit/debit cards, wire transfers, and crypto transactions.

For transactions made with a MasterCard or VISA, you can request a chargeback from your issuing bank within 120 days of the transaction. Wire transfers can be recalled if the transaction is still incomplete.

Scammers often prefer crypto transactions for anonymity, making it easier to evade detection and continue their fraudulent activities. Reversing crypto transactions is challenging and typically requires specialized tracing software like CipherTrace. Fortunately, our team is skilled in helping victims recover their funds.

Key Information To Consider About Dexspacex

Dexspacex is a sham, a fake exchange designed to steal users’ money and digital assets. It primarily targets American, French, Italian, and Turkish investors. We strongly advise against using this platform, as it is run by criminals seeking to take your money.

We offer professional services and assistance if you have fallen victim to the Dexspacex crypto scheme and cannot withdraw your funds. Use the form below to book your free consultation with Scam Brokers Reviews.

Book a free consultation with us and start the chargeback process.

FAQ Section

What is Dexspacex?

It’s a crypto scheme, plain and simple. The website is a hoax designed as a ruse to lure unwary investors.

Is Dexspacex Legit?

Not in a million years. To reiterate, this exact site has been used in countless crypto scam cases.

Who Owns Dexspacex?

On paper, it’s unknown who runs this business. In reality, anonymous thieves are behind the platform.

This fake broker tries to deceive their clients by hiding crucial incorporation and license information. No wonder the website omits this data, as the firm is actually a completely illegal conduct.

Due diligence and research are paramount whenever choosing a new company to do business with. See the remainder of our TradeOvo review to learn how to spot scams more easily, and how to recover your lost investment.

Clearly Not Legitimate

A company that shares no details about their licenses and registration is definitely suspicious. This completely anonymous business doesn’t reveal the location of their headquarters even, let alone a phone number or registration data.

Upon closer inspection of the legal documents, it seems like the company operates under the laws of South Africa. FSCA is the regulatory authority in that jurisdiction but their database doesn’t include an entry under the name of TradeOvo broker. 

No other details could be found on this swindler, so we have no other choice but to consider them the same as other frauds like Tesla X Trading.

Inner Workings of a Boiler Room

The history of the tradeovo.com website is not very long, with the domain being launched in April 2024. The low online footprint unfortunately also means that there aren’t any TradeOvo reviews posted by the users.

This works in the swindlers’ favor, as this makes it difficult for the client to assess what kind of a company they are dealing with. Majority of victims of the fraud reside in the following nations:

• Croatia
• Serbia
• Slovenia
• Romania

The company, if you can call it that, works as a scam call center. These boiler rooms, as they are known, employ persuasive young individuals to contact the clients directly. This particular scheme uses the phone to do so.

Company agents will often pester their marks for days on end, until they finally crack and invest some money. The harassment doesn’t end there, with the agents constantly asking for more money. Any invested funds are stolen, but may still be recovered. Contact our legal team to learn how.

Unbeknown Fees and Charges

Deceptive statements about everything being free on the site only serve to attract unsuspecting victims. Real TradeOvo trading fees are not known, and are kept secret. That’s why the website doesn’t disclose any costs. Not even leverage is known. Spreads allegedly range between 2.3 pips and 1.9 pips which is surely not that attractive.

Legal documents are hard to explore because they’re just one photo on an endless scroll. However, we did find that the company charges a $60 dormant fee for accounts that were inactive for 30  days straight.

No Reason to Sign Up

It doesn’t take a rocket scientist to quickly learn that this fraudulent portal has nothing substantial to offer to their clients. There’s just promises about some impeccable service and features that are never shown. Therefore, there’s no reason for you to even try to create a TradeOvo login.

Software Not Really There

The promised TradeOvo app should be the remarkable cTrader which is known as one of the leading platforms in the world of online trading. To test this option, we registered for an account and once in the user area, we tried out the web terminal. 

However, the login information we got in the email from the company were actually wrong credentials. Not only does this mean that TradeOvo demo account isn’t available but no software is provided at all either!

Unconfirmed Choice of Assets

Con artists running this shady site claim that they provide a wide range of instruments for buying and selling. Since we couldn’t confirm the availability of TradeOvo cTrader, it remains questionable if these assets are indeed available:

• CFD – on stocks and indices
• Commodities – Oil, Corn, Gold
• Forex – EUR/USD, USD/GBP, EUR/CHF
• Bonds – US Treasury Bonds, UK10Y-GB
• Stocks – Disney, Ferrari, BMW
• Indices – AUS200, HK50, FTSE100

Unimpressive Packages

No particular features are unlocked with the purchase of any of the available account types. There are promises about in-depth live market data, no commissions, and daily signals available. 

Alas, since nothing this broker has claimed until now has proven to be true, these are probably just many of the blatant lies.

The prices don’t correspond with the weak offer of tools:

• Bronze – $1.000
• Silver – $10.000
• Gold – $25.000

Grossfield Limited also charges ridiculous sums for opening live trading accounts so don’t fall for the same trap.

Shady Processing Agents

While legal terms claim that wire transfers and credit cards are available for a TradeOvo withdrawal, we found several suspicious payment service providers in the user zone. 

Sharing your credit card information with high-risk payment houses like euPaymentz, PAYCLY, and PGPayTech can lead to being robbed on more levels than one. These companies have been exposed by FinTelegram for being scam payments facilitators, so you should refrain from using them and investing with this broker altogether.

Unusable Customer Support

The only customer support channels available are an email address and a contact form. This is done purposely to make the victims rely on the same boiler room agent that got them into the mess.

Of course, this is where the company interests are conflicted – if the client is willing to pay more money, they will be catered to. Otherwise, the agents will deem them worthless and simply cut the victim off.

Scammers Got Your Money? Fight Back!

The tradeovo.com website is a front for fraudulent activities. It is a scam circle in disguise, created to steal the money from people by pretending it is an online brokerage.

We strongly advise against investing with any unlicensed company. If you have already done so, contact our legal team as soon as possible. You may reach us around the clock for a free first consultation, and start a fund recovery procedure.

FAQ Section

What is TradeOvo?

TradeOvo is an unreliable brokerage agency that operates from an unknown location.

Is TradeOvo Legit?

No, as they present no proof of being licensed by any financial institution.

Who Owns TradeOvo Broker?

This information is kept hidden by the broker. If they’re not letting you withdraw your funds, please reach out to our support team.

As you can tell from their name, Toro Invest broker tries really hard to look like some regulated firms, such as ToroInvest (toroinvest.com) or eToro. And yet, they fail miserably.

In this detailed Toro Invest review, we will disclose all the faults of the broker in question. In addition, we will give you some advice on how to recover your money if you fall victim.

Who Is Behind Toro Invest Broker?

For a start, we have to mention that Toro Invest, operating under the domain toro-invest.com, has nothing to do with the formerly CySEC-licensed Toro Invest, operating as FF Simple and Smart Trades Investment Services Ltd. Furthermore, the company we’re reviewing today has added a UK address to its website, which implies that it falls under the FCA regulatory umbrella.

Sadly, we found nothing related to this brand after checking the FCA register. In addition, their legal documents point out that the website is to be used in accordance with the laws of Estonia. And yet, the domestic license provider, FI, has nothing on Toro Invest.

This clearly shows that we’re dealing with another scam broker. Let’s see what else we can discover.

Toro Invest Reviews – Are Users Satisfied?

Despite the company’s false claims of over 5 million users, we found no Toro Invest reviews. Quite interesting, don’t you think? This is especially true since the broker’s domain was registered in March 2024. Even tier-1 regulated firms are unable to have 5 million users and $72 million in capital in four short months of existence.

According to website analytics and our research, Toro Invest scam brokerage mainly targets the following countries:

• United Kingdom
• United States
• Italy
• Canada
• Australia.

As you can see, all wealthy nations with stringent financial rules in place. It’s just a matter of time before the regulators will expose the scam and the broker will vanish. Before it happens, we advise that you start the chargeback procedure and recover your money in time. For more information about how to do it, contact our recovery specialists.

Toro Invest Trading Conditions – What to Expect?

Normally, we advise customers to expect just about anything with unregulated brokers. From fake fees to frozen Toro Invest login credentials, anything can happen. 

Let’s see what this broker admits to offer and what remains unknown.

Toro Invest Fees, Commissions, and Other Expenses

No matter how hard you try, you won’t find any Toro Invest fees transparently listed. On its main page, the company boasts about its excellence, wealth management services, and investment advisory options. And yet, they don’t state what the commission they charge for it all is.

This is a clear sign to stay away. Instead, you can choose a regulated broker and know the exact amount you’ll have to withdraw after all the expenses are covered.

Toro Invest Leverage – Another Thing Against the License

Finally, something we know. Toro Invest leverage stands at 1:100 for all account types. Yet, they claim to originate from the UK. If this were the case, the brokerage would need to comply with the FCA regulation and offer a maximum of 1:30 to retail traders. 

Toro Invest Account Types Overview

Since we mentioned Toro Invest accounts, let us show you how absurd they are. If you decide to make an initial deposit, you can choose among the following:

• Micro – 250 EUR
• Standard – 2,500 EUR
• Trader – 10,000 EUR
• Award – 25,000 EUR
• Pro – 50,000 EUR
• VIP – 100,000 EUR
• Diamond – 200,000 EUR
• Elite – 500,000 EUR

Yes, you saw it right. Toro Invest minimum deposit is 250 EUR, and you get nothing. You’re limited to only 9 currencies to trade, and you get no account insurance. If, however, you decide to upgrade, you can get account insurance ranging from 10% to 50% and access to all trading assets. And yet, we believe it’s all bait to get more money out of you.

Toro Invest Trading Instruments On Offer

This is where things get really confusing. According to the account types section, the company offers 4 asset classes with each account. And yet, their main web page lists five, those being:

• Currency pairs – EUR/USD, GBP/AUD, NOK/SEK
• Commodities – oil, gas, gold
• Cryptocurrencies – BTC/USD, LTC/USD, ETH/USD
• Stocks – Amazon, Alibaba, Tesla
• Indices – DAX30, CAC40, FTSE100

And yes, we’re well aware of the issue – they listed currency pairs under stocks and indices. If it seems like they don’t know what they’re trying to sell, it’s because they don’t.

Can I Get Any Trading Education?

We believe that throughout this Toro Invest review, you understood that this broker has no clue what they promote. Therefore, it would be ridiculous to expect any sort of education about their products.

Of course, we’d say it’s for the best. Since the firm is not licensed, neither are their employees. And the last thing you need is to learn how to trade with a fake financial advisor, a.k.a. boiler room agent.

How to Contact Customer Support?

If you encounter any issues with this brokerage, you have several options. You can fill out the web form, send an email, or call them directly via a UK phone line. However, the response time probably varies depending on your question.

If you wish to deposit the money, they will contact you right away. On the other hand, if you’re interested in Toro Invest withdrawal, we believe you will have to wait quite a long time. And we’ll now explain why that is so.

Withdrawal Terms and Conditions

According to their quite confusing legal documents, the company provides bonuses. These bonuses and all the profits generated from the so-called undeposited funds are not available for payout. Simply put, you will have to prove how much you earned using your own capital and how much you earned with the added incentives. This is the main reason regulated firms are prohibited from providing bonus funds.

Furthermore, there are hefty withdrawal fees, including:

• 50 USD/EUR/GBP for wire transfers (min. withdrawal 250 units)
• 25 USD/EUR/GBP for card transfers + processing fee of 10 USD/7 EUR/5 GBP (min. withdrawal 100 units)
• 25 USD/EUR/GBP for ePayments (min. withdrawal 100 units)

Additionally, there’s a 10% withdrawal fee for all accounts that haven’t reached a turnover of 200 trades or have not been verified. This tells us that the company works directly against the law and approves payouts without following KYC and AML procedures and laws.

Key Things to Consider

To summarize everything we’ve learned, Toro Invest is an unregulated trading brokerage allegedly based in the UK. The company doesn’t comply with the FCA regulations in terms of trading conditions or bonuses and withdrawals. Therefore, issues are more than probable.

In such a case, contact our recovery experts. We’re offering a free first consultation to all our clients, where we will review your case in detail and see if you have the legal ground to request a refund. If so, we will prepare a detailed plan of action. Don’t give up on your money. Contact us today.

FAQ

What is Toro Invest?

Toro Invest is an unregulated brokerage firm operating without appropriate authorization.

Is Toro Invest Legit?

Toro Invest is not a legitimate brokerage. The firm is allegedly UK-based yet has no approval from the local regulator, FCA.

Who Owns Toro Invest Broker?

Unfortunately, legal documents don’t tell us who is behind this brokerage, so it remains an anonymous entity.

On the surface, this exchange seems fine and dandy. The site seems simple and easy to use, and the operators claim to offer quick exchange services with fees that are only slightly above average.

In reality, once you start a transaction, you will most likely never see your money again. Our N Exchange review will show you how this firm steals from its users either through incredibly high service costs or purposely blocked transactions.

Offshore Threat

According to the legal documents, the N Exchange crypto platform is owned and operated by NEX Holdings LTD. It isn’t explicitly revealed where this company operates from, but the same legal paper claims that Marshal Island laws have exclusive jurisdiction over the company’s operations. 

Entity with this name, incorporated with the UK Companies House doesn’t have an FCA license. Oleg Belousov, the exchange’s founder and CEO, owns another UK firm – Crypto Nexchange LTD. 

However, this entity also doesn’t own an FCA license. The same person is also linked to YOA LTD, a software development business that was previously listed on the site as the exchange’s parent firm.

Whatever the real state of things was, this monkey business is not a legitimate service provider with any license. SimpleSwap is also an offshore crypto portal that can’t be trusted. Therefore, please avoid off-the-grid shady service providers entirely.

Complicated History Obstructs Investigation

The n.exchange domain was created in 2018, but its company owner has constantly changed during its existence. During this time, the exchange’s “look and feel” did not undergo any significant change or re-branding. Indeed, the CEO of all of these companies remained the same individual.

This is a deliberate move on behalf of the fraudsters, intended to derail any investigation attempts. However, it doesn’t help attract clients to the scam. For this reason, the con also works via social networks like X, LinkedIn, CrunchBase, Medium, and YouTube.

The fraud is mostly focused on these regions:

• United States
• Netherlands
• United Kingdom
• Germany
• Canada

The main advantage of the platform, as advertised by the con artists, remains the alleged safety and security. In reality, the exchange only exists to steal money from potential clients.

Fake Review Cover-up

The negative N Exchange reviews have been piling up on various ratings portals like TrustPilot. The swindlers are trying to combat these by posting fake ratings of their own, desperate to keep the overall ratings score afloat.

This did not help them much, as the client’s confidence plummeted to only 2.5 stars. Participants in the N Exchange Reddit discussions have strong evidence that the company is using underhanded methods to obtain funds.

If you are one of thousands of people who have been defrauded by these charlatans or another scam firm like Mortimer Investment, contact our legal team. We can help you get your assets reimbursed.

Many Fees to Pay

Not all costs on this website are clarified. However, those that are published are quite high and definitely not competitive with reputable exchanges. For example, N Exchange fees for crypto-to-crypto exchanging are 3.5%. 

There is also the administrative fee of 5%, with additional costs for specific actions, but these expenses remain hidden. This is just one of the many reasons why traders shouldn’t trust this firm to handle their crypto transfers and swaps.

No Specific Tools to Talk About

Since creating the N Exchange login is a relatively quick process, we gained access to the features almost instantly. However, even without being a member, it was evident that the site had nothing particularly breathtaking to offer. The central part of the activities on this portal is the simplistic yet totally unsafe exchange terminal.

How to Exchange

Exchanging one cryptocurrency for another is done via a web terminal that isn’t quite software in the classic sense. The simplified web widget only allows you to enter the destined amount to exchange and click the button to complete the transfer. 

Of course, to be able to exchange your tokens, you first have to provide a wallet address in the user dashboard. Mobile app is to come soon allegedly. The N Exchange app isn’t the safest terminal out there, so we recommend you to switch to a more secure portal for such actions. 

Currently Supported Coins

This website offers a little under 100 assets in total. While this number isn’t negligible, there are definitely exchanges that provide access to hundreds, if not thousands, of instruments. 

Some of the more notable coins accessible through this portal are BTC, ETH, BNB, ADA, BCH, EOS, TRX, XRP, and others.

Nothing Easier Than Becoming a Member

After a quick registration, clients gain access to their profile, where they can add their wallet address and use it for exchange purposes. 

No specific steps are required before all website functions unlock. That means that all that is needed is a login without the hustle of verifying the user data and identity. As relieving as that may seem, it is also a major trap.

Money Flows One Way

As a strictly crypto-to-crypto exchange with no speculative instruments, the platform does not actually feature any withdrawal options. Clients open an account, link their crypto wallet, and get their transactions charged and credited directly to the wallet.

That’s how it should work in theory. In reality, we’ve already seen thousands of recorded N Exchange Telegram conversations which complain about the orders being charged to the wallet with no cryptos being released back.

Who Replies to Users?

Considering that the majority of victims complain about being completely ignored by the staff members, it is difficult to say that this exchange even has customer service. Of course, there’s an email and an online form to use in order to try and reach out. However, these apparently only stand there for show and are not exactly functional.

Invested With Charlatans? Get Your Money Back!

This exchange may seem like the real deal, but it is instead a complete money pit. The firm is an offshore entity that constantly changes its legal name and parent company. Nearly all of the clients have complained about having their money stolen from them in one way or another.

Unlicensed exchanges are not trustworthy companies. If you have invested any money with such a company, don’t hesitate to ask our team for help. We are available 24/7 via the live chat, and our first consultation is free of charge.

FAQ Section

What is N Exchange?

N Exchange is a scam crypto platform that operates offshore and doesn’t have a valid license.

Is N Exchange Legit?

Apparently not. The alleged CEO and founder runs several companies, none of which are regulated.

Is N Exchange Safe?

Absolutely not. This crypto portal is run by fraudulent individuals who just empty other people’s wallets and disappear. For help with fund recovery, contact us immediately.

Unfortunately, this crypto investment scam is a prime example of how low online charlatans are prepared to go in order to get the money. Abusing the relative novelty of cryptocurrencies, these swindlers are reaching into the pockets of pensioners.

See the remainder of our GCXcrypto review to learn more about online con schemes, and how to recover a stolen investment.

Unclear Owner of the Firm

This shady platform called the GCXcrypto exchange claims to be owned by a company allegedly called the Scottish Group, established in Germany in 2015. As a financial services provider in that country, a business is obligated to acquire a BaFin license, which this entity doesn’t own.

Another owning company mentioned is just GCX which is supposed to be a FinCEN registrant as a money services business. A company named GCX GROUP LIMITED does show up in the search results, but that entity probably has nothing to do with this fraudulent website we’re reviewing. 

After all, this isn’t the only site that displays exactly the same legal information. For instance, Hxeyy.co has basically a mirror copy of this website with the same legal papers. There are more of them out there, so all in all, it is better to avoid them entirely.

Stealing From the Elderly

The gcxcrypto.co domain was created in December 2023, with a lease time of a single year. The fraudsters behind it are mostly focusing on citizens from these nations:

• United States
• Canada
• France

While there are no customer-made GCXcrypto reviews, we found feedback from Reddit users. According to them, the fraud involves at least two individuals playing two distinct roles. One of them is posing as a finance expert with a solution for passive income, while the other poses as an interested third party to shill the sham.

These two aliases, “Andrew Brown” and “Catherine,” prey on pensioners and the elderly. They urge their victims to purchase cryptos and transfer the coins to privately held crypto wallets posing as investment platforms.

Recovery of stolen cryptos is a very difficult procedure, but it is possible. For more information and help with recovery, contact our experts via the live chat.

Can It All Really Be Free?

Of course, GCXcrypto fees do exist, and they most definitely apply. The catch is to lead customers into thinking the service is entirely free. That’s what the boiler room agents and other scam promoters want you to believe as their victim. That increases their chances to acquire new victims and attract more investments. 

In reality, the company cannot afford not to charge trading fees and other expenses—how are they supposed to earn, then?!

Multiple Bonuses and Promotions

It looks like the company offers incentives and rewards for participation in various projects all year round. All of these can lead traders to have their funds stuck on the platform without the option to pull them out. After all, fraudsters add virtual cash to a client’s account and then reject withdrawals until the trading volume requirement is met.

Immediate Code 360 is also known to throw around USDT and cash rewards just to prevent clients from withdrawing a single penny.

Poor Service and Even Worse Tools

Everything seen on this sloppy and buggy website should be your sign not to register a GCXcrypto login with them. 

Not only is the customer service unresponsive, but the majority of features found are unreliable and underperform compared to competitors. That reminds us of the Immediate Trade Pro website, which is just packed with promises and nothing more.

Suspicious Download Options

There are two alleged software platforms for the exchange. One of these is the web trader, a favorite of contemporary financial swindlers. It allows the con artists to easily edit the market data and make speculations, either a loss or gain, depending on the deception strategy.

The GCXcrypto download section features links for mobile devices that use iOS and Android operating systems. The app itself is not listed in major stores which is another evidence of it being malware.

Miniscule Asset Diversity

To maintain the appearance of a cryptocurrency trading platform, the GCXcrypto app offers a slew of different instruments. While the selection does seem diverse, it pales when compared with what the legitimate competition has to offer.

The featured instruments are all crypto pairs with USDT set as the quote currency. There are a total of 35 base currencies, including BTC, ETH, ADA, XRP, BNB, IOTA, DOGE and some others.

Conditions for Joining the Portal

Those who wish to join the robbed and defrauded have to first provide their contact information and an invitation code. Without it, it’s impossible to sign up for the platform. 

Due to such circumstances, we were prevented from accessing the user area and couldn’t examine other options and benefits unlocked with the membership. Since this is an illicit crypto provider, there’s probably none, anyway.

Disappearing Funds

The procedure for withdrawing funds from your GCXcrypto wallet is not known. Being locked out of the client zone, we had no access to the withdrawal options. However, since this is another typical fake crypto exchange, they most likely only support crypto payments. 

This channel allows them to perform quick transactions yet remain anonymous. While facilitating the fraud, this strategy also makes it hard for individuals to restore stolen assets without professional help.

Customer Support “Temporarily” Unavailable

It seems that the client support office is temporarily busy for an indefinite period. Therefore, users are advised to leave their phone numbers and a message describing their issue. Support agents should solve it as quickly as possible. 

Of course, these are just lies, as nobody on this platform truly cares about the issues their customers face when the fraudsters themselves are the cause of these troubles.

Swindlers Took Your Money? We Can Help!

The answer to the question “is GCXcrypto legit?” is unfortunately no. This illicit cryptocurrency exchange is quickly gaining notoriety amongst the traders for targeting and involving elderly people into the scheme.

Should you require assistance recovering stolen or lost crypto assets, consider contacting our experts. You may reach us around the clock via the live chat for your free first consultation.

FAQ Section

What is GCXcrypto?

GCXcrypto is an unregulated, illicit online crypto trading platform with unknown ownership.

Is GCXcrypto Legit?

The firms they list don’t even exist, and the con artists surely don’t own a license from any authority.

How to Withdraw Crypto Out of My GCXcrypto Account?

Since payouts are not allowed, you should consult our legal professionals for help with asset recovery.

Do not get fooled by the corporate-looking website and its lucrative promises. This platform is a fraudulent tool for deceiving unsuspecting traders and investors. It’s a scam just like Dexspacex, and we have plenty of evidence to support that claim.

Read our full Pretraders review to learn the truth about this monkey business and its scheme. We can help you recover your hard-earned funds.

Legal Info: Is Pretraders Regulated?

The Pretraders broker has copied its image from another offshore provider, Bigmarkets. This platform is also the trading brand of Saint Lucia-based Tоmоrrоw Technologies Ltd. The legal documentation is also suspicious. We can say for sure that this business is not sufficiently regulated.   

Therefore, Pretraders is not eligible to operate under reliable jurisdictions such as the European Economic Area (EEA), which has common ESMA market regulations and requires a MiFID passport for all participants. European brokers provide clients financial compensation, segregated funds, negative balance protection, and other safeguards.

Instead of trusting anonymous imposters, we recommend choosing firms regulated by recognized financial authorities like the FCA (UK), ESMA (EEA), CFTC (US), ASIC (Australia), IIROC (Canada), and MAS (Singapore). 

Who Are Pretraders’s Targets?

According to WHOIS, the pretraders.com website domain was created on November 1, 2023. Since then, the digital con artists behind the platform have mainly been targeting unsuspecting traders and investors from the following jurisdictions: 

• United States
• United Kingdom
• Netherlands
• Sweden
• Cyprus

All these countries have rigid financial rules to fend off online fraud like NGCB, ensuring their markets are tightly regulated. Three of the five are EEA members. Operating without the proper approval is illegal, and Pretraders does just that! 

Trader Reviews – Sharing Experiences

We found several negative Pretraders reviews on scamadviser and personal-reviews. Users outlined classic scam elements that characterize this plot. “I was unable to withdraw on this platform after making huge investments” is a common theme in the comments.  

Swipe the shady broker’s website through a webparanoid, and you’ll see that it has been flagged as “suspicious” due to a low trust score, hidden content, and poor traffic. 

Attention to user feedback is essential for finding reliable companies and dodging scams. Before diving into any investment, take a moment to hear what fellow traders and investors say about the platform. Honest reviews like ours can be your guide.

Which Trading Platform Is Available?

The website does not offer a downloadable desktop or mobile app. The Pretraders platform is just a browser-based interface with ineffective tools. It’s too bad the Pretraders login page blocked us from testing it. Nevertheless, we have already proven how fraudulent this business is, so using the terminal would be a terrible choice.

The broker’s shady background and reports of manipulation make the terminal too risky. We recommend avoiding it and opting for a licensed provider that supports reliable third-party software like MetaTrader 4, MetaTrader 5, or cTrader.

These platforms offer advanced tools like automated and algorithmic trading, sophisticated charting, multiple timeframes, live market reports, and expert advisors.

Pretraders account types

Trading Info – Leverage, Spreads, Commissions

Allegedly, some of these account tiers come with zero fees, which is odd considering that broker firms generate revenue through commissions. The spreads for the lower tiers remain undisclosed. As for the maximum leverage, the unscrupulous broker promises 1:400, which is extremely high. 

Here’s a tip for leverage trading: don’t jump into it unless you’ve got a lot of experience. High leverage can be super risky and lead to significant losses, so there are strict limits for retail clients in Europe and Australia (1:30) and North America (1:50).

Can Traders Use a Free Demo Account?

Pretraders skips the demo account, pushing traders to deposit real money immediately. This sneaky move allows tricksters to snatch your funds before you realize what’s happening.

For beginners, starting with virtual funds is a must. Don’t put your cash on the line from the start. Trustworthy brokers always offer risk-free trading, so why gamble with shady platforms?

Deposit and Withdrawal Process

The website lists several payment methods for depositing and withdrawing funds:

• Credit/debit cards
• Wire transfers
• E-wallets (PayPal, Skrill, UnionPay)
• Cryptocurrencies

Depositing funds might be straightforward, but getting a withdrawal is problematic. Many users have pointed out that that’s a different story in their reviews. If you cannot get a withdrawal, it’s time to consider other ways to recover your money.

If you paid with a MasterCard or Visa credit/debit card, you can try to get a chargeback from your bank within 120 days of the transaction. 

You can attempt to recall the transaction through your bank for wire transfers, but this only works if the funds haven’t already disappeared into the scammer’s account. E-wallet reversals require you to contact the issuer directly and request a chargeback.

Retrieving crypto payments is infinitely more vexing. Recovering stolen digital assets is trickier and involves using advanced software like CipherTrace and getting professional help. Fortunately, our team is here to guide you through this complex process.

Key Facts To Consider About Pretraders

Pretraders is a pure sham targeting mainly traders from the US, UK, Netherlands, Sweden, and Cyprus. This bogus website copies content and promotes illicit services. 

We do not recommend trading on such platforms due to their unregulated status. If you are a victim of the Pretraders scam, you must seek our professional help to recover your funds! A chargeback is your best option.

Use the form below to book your free consultation with Scam Brokers Reviews and tell us more about your case. Our team will gladly guide you through the fund recovery process and assist you every step of the way.

Book your free consultation here and start the chargeback process.

FAQ Section

What is Pretraders?

It is an anonymous website promoting illegal Forex/CFD trading services to unwary traders.

Is Pretraders Legit?

No, it’s a copycat website without credentials and legitimate licenses. Contact us if you have Pretraders withdrawal issues.

Who Owns Pretraders?

The website purports this business is owned by Тоmоrrоw Technologies Ltd. Yet, there’s no evidence to confirm it.