BitKan is a crypto exchange platform that first appeared in 2013. In the beginning, it was mainly focused on the Asian market, but it grew its usebase with the expansion of crypto trading. As of 2018 and 2019, the company has launched its own token – KAN. Today, you can often hear how this is one of the biggest crypto exchanges of all times with an astonishing number of users – almost 10 million of them in total.

However, some doubts will always exist. For example, the regulatory status of the website and how exactly safe are they, if they do not own a valid Tier 1 license? This and many other questions are answered in our BitKan review, so read on to gain understanding of it all. 

What is BitKan?

BitKan is a crypto currency exchange platform, dating back to 2013. However, the exchange wasn’t always what it is today, and it had it undergo various changes during its development. Major trading functions, as well as their proprietary token didn’t appear until late 2018. However, with the massively growing popularity of crypto trading, BitKan entered the race with the focus on providing automated digital coin trading. 

The website claims that this brand was established in the British Virgin Islands, supposedly “in accordance with relevant laws and regulations”. You can assume we couldn’t just take their word for that and went to immediately check with the jurisdictional regulator  – BVIFSC. BitKan doesn’t show up among regulated/unregulated entities as well as the formerly regulated ones. 

Since the document also states that the parties have to agree to “arbitrate the dispute arising from this agreement in the Singapore International Arbitration Centre”, we checked with the Singaporean financial regulator, MAS, if they have approved of this exchange. They did not. So no matter their success or the number of years on the market, we advise caution.

However, that didn’t stop this company from gradually growing into one of the major crypto exchange platforms over the course of more than a decade. Leon Liu and Fang Yu, the co-founders of the business, had enthusiasm to recognize the crypto potential, perhaps at a time when not many other people did. And they persisted in fulfilling their goal of providing a valuable place for the Asian investors to trade and exchange digital coins. 

Countries of Service

BitKan has more than a decade of experience behind their conduct. We have to admit it’s more than enough time to get accustomed to the market and discover the preferred public. BitKan has apparently succeeded in that, since they do have customers from various areas. From how things are at the present moment, most of the investors using this exchange platform come from:

• United States
• Turkey
• Singapore

Atomic Wallet users also qualify the exchange as reliable, but they still do not own a license. No matter how good they claim their service and customer protection are, we have to warn our audience yet again of the crypto volatility and the lack of security. Heavily regulated websites and companies run an array of safety measures and implement a handful of standards to increase the protection of funds and data. 

In case you are experiencing difficulties with this, or any other similar company or unregulated exchange like KoinDeFi, do not feel ashamed for asking for professional help. We are here to offer it and believe us when we say: we know what we’re doing, and we understand your troubles. 

Traders Opinion About BitKan.com

It appears that BitKan is not all that popular among traders as they claim they are. At the time of writing this review, their only page on TrustPilot was an unclaimed company profile with a couple of reviews. This is far from enough to draw any valid conclusion about the customer satisfaction with the BitKan services. Either way, here are the only two reviews we found so far:

Good overall. It has got profitable features. Will update you later!

Super easy to use, can trade safemoon shiba safemars kishu etc very easily. Even has free bots for trading that helps me make money all the time. Love it!

All these should be taken with a grain of salt. We wouldn’t recommend immediately rushing into investing after reading a couple of positive reviews which may as well be baits. Consider Demo trading first or contacting our legal professionals if you want more information on such firms. 

Leverage, Commissions, Spreads, Fees and Taxes

Trading at BitKan means accepting to cover the fees that their services come with. What determines the amount of fees you pay for using the services is the VIP tier you belong to. There’s a total of 8 VIP tiers and the higher tier you are, the lower the fees you pay. The starting fees are 0.1000%.

It gradually drops how you climb the leather and with your activity, number of referrals, successful trades, investing, etc. The three final tiers enable negotiable fees, which you are instructed to contact BitKan relationship manager about.

You can reduce your withdrawal fees up to 34% if you use KAN. Additionally, the trading bots powered by BitKan are entirely free to use.

Are There Any Bonuses Available?

Naturally, any raising exchange dealing with crypto will offer bonuses. Especially if they are not supervised by the leading Tier 1 regulators that have banned these. BitKan has a 100 USDT joining bonus that you can apply for as soon as you open an account. 

At the current moment, the website also has an ongoing promotion called BitKan x OKX $100,000 Sure-Win Futures Carnival. The purpose of the event is to get investors to deposit more, become more active in order to finish the tasks and then be able to enter the contest. A lot of prizes are mentioned, like mobile devices and minor cash rewards. The biggest one is the $100,000 prize.

BitKan Features

BitKan sure works on diversifying their offer of features, accounts and products. As of now, the platform offers access to 1200+ tokens. The key features refer to the free trading bots, futures trading, and spot trading. There’s also the famous BitKan P2P so you can directly buy or sell USDT, BTC, and ETH. 

Trading Software

Many traders today find it relieving to have the possibility of using automated software for placing trades. It gives them a dose of confidence. Free crypto trading bots at BitKan do exactly that. Activating the AI trading bot can be done inside the platform itself so it spares you the time of adjusting it, as it’s already backtested. Aside from this one, you can choose other types of bots, like two-way one or the infinite grid bot.

Mobile Trading App

The BitKan Pro software is only available as a mobile app, which is a downside to the entire offer. It is well known how much advanced and richer in functions, tools and options desktop platforms are. Also more reliable and far better equipped, they are mostly preferred by traders in general. 

Unless you possess a certain amount of experience, the BitKan Pro trading app could be a bit much in the beginning. Although understandable and user-friendly, it could take a while for a novice trader to get around things. 

Available for both Android and iOS devices, the software is adjusted for every mobile user. The comprehensive app offers a detailed insight into your wallet, information about price movement in real time, and a wide range of instruments and trading tools. The biggest advantage is the ability to trade on the go, without being tied to a desktop machine.

Available Trading Assets

BitKan features a whopping 1200+ different Cryptocurrencies available for the exchange. As this market develops constantly, BitKan keeps updating their offer with more and more Cryptos daily. The assets are split in 2 major groups: Spots and Binance Futures. The Spot asset types are by far more numerous, and include the most popular Cryptocurrencies today.

Here is a basic outline of the BitKan offer:

• Spots – BTC, ETH, UDSC, BUSD
• Binance Futures – BTC/USDT, ETH/USDT, XRP/USDT, EUS/USDT

Education

There is a huge and comprehensive knowledge base available for not only BitKan users, but anybody who wishes to learn about many topics about Cryptocurrencies. The Learning section of their website includes topics on Crypto Basics, Currencies in general, as well as tips on Investing. 

There are excellent tutorials for anyone willing to invest their time to understand any of the topics. BitKan passes their Education aspect with flying colors, as the articles are updated daily.

How to Withdraw Funds?

Without exception, withdrawals are always a possible source of hustle when they’re processed by unregulated service providers. Since BitKan is one of them, we advise high caution when attempting to withdraw profits or initially deposited funds. 

Although, so far, it appears that BitKan has a reputation of an exchange that is true to its word. We can’t be so optimistic as they do not have a supervisory authority watching their actions, monetary transfers and processing of payments. 

The single payout method is, as expected, crypto. We always take the time to warn our customers of the dangers that come with anonymous crypto transfers. All fraudulent entities prefer them for the chance to make thievery instant, while keeping their precious virtual anonymity to protect them from legal prosecution. 

Customer Support

Unfortunately, the Customer Support at BitKan is slightly below average, when compared to other exchanges and companies that provide a similar service. The Help section is quite comprehensive, but you may receive support form an actual human through WhatsApp Live Chat and email. 

The Customer Support response time is quite short, and their agents are well versed in the topic. Some users may find the lack of a Phone Number, or a voice call somewhat limited.

Key Information To Consider About BitKan 

We’d like to again remind you that crypto scam is a daily occurrence. Billions of dollars are stolen on a yearly basis from completely ordinary investors, just like the professional traders. So please understand that there’s no shame in being a scam victim. 

What is important is not to give up and allow the cyber criminals to get away with your hard-earned money. You work hard to have all your capital swiftly stolen from as if it was nothing important.

So if you’re experiencing problems with BitKan withdrawals, do let us know. The legal experts we employ can help you understand your position, as well as your options and alternatives. It would also mean to us tremendously if you shared your experiences and helped us understand how these schemes work, in order to get to the bottom of the issue. 

Is BitKan.com a Scam?

Although BitKan.Com has been in business for a very long time, and has a very dedicated client base who have excellent confidence in the platform, we still stress out that this Crypto Exchange is not a regulated entity.

Is BitKan Available in the United States or the UK?

BitKan services are available to clients on a global level, and the countries of service include the UK and the US.

Are My Funds Safe With BitKan?

BitKan has a very solid and quite good reputation online. Many exchange participants call BitKan their company of choice. Even so, the lack of proper license and regulation is a risk factor. If you’re experiencing issues with this financial services provider, feel free to contact us.

South African broker Trade245 is offering both forex and CFD investments online. While they are a registered broker, there are a few discrepancies that give our Trade245 review pause. A mysterious affiliate company is mixed in somehow, and even without that, the broker’s offerings aren’t all that great.

Trade245 Review: Regulation and Security

The Trade245 broker is owned and operated by Red Pine Capital (PTY) LTD, a South African organization. As a South African broker, they are required by law to register with the FSCA. This broker does have a current license with the FSCA, giving them full authorization to provide financial services within South Africa.

Our Trade245 review discovered that the company behind the broker also operates a second broker called ZumaMarkets, formerly ZumaFX.

However, the broker’s regulatory situation isn’t quite as simple as that. The broker has a disclaimer stating that they are an “intermediary” between traders and a company called MarketFinancial Ltd. The relationship between the two companies is not clearly defined. MarketFinancial Ltd is based in Seychelles, a notorious tax haven. Their involvement with the broker is highly suspect.

Trade245 Review: What Can You Trade With This Broker?

Trade245 has a solid batch of CFDs and currency pairs available. Their CFD selection spans over 150 options across stocks, commodities, and indices. Their currency pair selection is also pretty decent. They offer leverage up to 1:500, a rate high enough to be dangerous for inexperienced traders. Most brokers under other financial regulators have a mandated limit of 1:30.

The broker has multiple account types, including swap-free accounts. Our Trade245 review found their minimum deposit to be $100. The broker also offers deposit bonuses, where a certain percentage of the initial deposit is given to the trader. However, these bonuses have strict terms that make the funds difficult to withdraw.

Which Countries Does Trade245 Accept Traders From?

As a South African broker registered with the FSCA, the broker offers services to residents of South Africa. While they might accept clients from other countries, the FSCA protections will not apply to those traders, putting them at increased risk.

Our Trade245 review found a disclaimer stating that they do not provide services to residents of the United States, but this is the only country specifically prohibited.

Deposit and Withdrawal Methods

The broker supports a variety of payment methods, including credit cards, wire transfers, Skrill, and Ozow. There aren’t any additional fees for making a withdrawal. However, traders that received a deposit bonus are in for an unwelcome surprise. The terms of that bonus will prevent them from withdrawing those funds until they have been traded dozens of times over.

Conclusion: Trade245 Review

New account bonuses shouldn’t be used by brokers to wrongfully deny withdrawals, but it happens very often. Foreign brokers investing with this broker won’t be under the protection of their financial regulator either. The only way to get that money back is to use whatever means necessary. Contact our representatives today to issue a chargeback and recover your funds.

Is Trade245 a Regulated Broker?

Yes. They are regulated by the South African FSCA. However, traders using their services from other countries should note that they aren’t under all protections.

Who Owns Trade245?

The broker is owned and operated by the South African company Red Pine Capital (PTY) LTD. There is another company involved in some capacity, though, MarketFinancial Ltd.

How Long Does it Take to Withdraw from Trade245?

In theory, withdrawals shouldn’t take more than 24 hours to process. However, due to bonus requirements and other issues, many clients report being unable to process withdrawals.

Right off the bat, we’ve noticed that this shady broker is incredibly vague. Key facts were omitted and there’s no legal documentation available. This prompted us to do the Gain Trade Review in order to outline this fraud and prevent the scammer from gaining anything. Keep reading to find out more about this terrible scheme.

In addition to the above, we strongly advise you not to invest in Forex Treasures, Fin Art Media and Perlybit fraudulent brokers.

Is Gain Trade Internationally Regulated?

Let’s take a look at the first irregularity we encountered. Upon entering the “Contacts” section, we were treated with two addresses, one in Indonesia and one in Australia. This anomaly can easily be solved by checking what the two countries’ financial market regulators have to say about Gain Trade.

As you may have guessed, the Australian Securities and Investments Commission (ASIC) and the Indonesian Commodities and Futures Trading Regulatory Authority (BAPPEBTI) got nothing on the illicit broker, nada. Therefore, we hereby pronounce the broker “unregulated” and dangerous.

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

To further touch on the previous statement, Gain Trade is an outrageous scammer. It is unregulated because we were unable to find anything on the broker or company by that name on the websites of top-tier regulators such as the ASIC, CySEC, and FCA. So, kiss goodbye to any money you invest.

How Reliable Is Gain Trade Broker?

Gain Trade is an unregulated financial services provider allegedly based in Jakarta. Negative reviews indicate that it cannot be trusted.

What Platforms Does Gain Trade Offer? – Available Trade Software

Apart from key aspects about your broker that interest you such as the license and payments, you cannot neglect the trading platform. When a provider claims it has superb status and a world-class trading platform available, your expectations are naturally going to be great. However, we’re sorry to inform you that you will be disappointed.

This phony broker says it offers a simple browser-based platform known as WebTrader. The software itself is pretty lackluster, which will affect your experience. 

Mobile Trader – Mobile Terminal From UTIP

This was clever, we got to give it to Gain Trade. The scammer mentioned a legit software for mobile trading produced by UTIP. But, this platform can be downloaded directly from UTIP’s website so why would you trust a shady, unlicensed broker? Nice one, Gain Trade, but you got to do better than that.

Gain Trade – Countries Of Service 

We did some research and found out who are the targets of this financial swindler. Namely, Gain Trade targets people from

• Poland
• Italy
• Germany
• Spain
• the UK.

Also, the website has no English version but has one in Russian. Thus, Russians could also be potential victims of this vile scheme.

What Do Traders Think Of Gain Trade?

Unfortunately, our fears came true. We mentioned that Russians could be the targets and we were right. We found the following comments in Russian and translated them. These claims back up everything we said in the review.

“Do not fall for Gain Trade persuasion. Scammers do not allow you to work normally on their platform. Trading conditions are constantly changing, I am already silent regarding the withdrawal of funds.”

Inna

“Gain Trade is a scam. The company does not match its description and deliberately introduces the client to fraudulent schemes. By investing money in this platform, you will 100% lose your savings.”

Mark

Gain Trade Trade Range of Trading Markets

Gain Trade simply listed the financial asset classes it allegedly offers. These include:

• Forex;
• Crypto;
• Indices;
• Stocks;
• Energies;
• Products.

There’s not much else to it. A reliable broker would be kind enough to give insight into which currency pairs or cryptocurrencies it offers. This, however, is not the case with Gain Trade.       

What Do We Know About Gain Trade Account Types?

Судя по всему, Gain Trade не предлагает никаких типов счетов. Почему вы можете спросить. Что ж, ответ прост. В этом нет необходимости. Как только Gain Trade зафиксирует ничего не подозревающую жертву, мошенник предоставит реквизиты для оплаты, чтобы заключить сделку, а затем исчезнет в воздухе. 

Minimum Deposit, Withdrawal Terms and Fees

We are completely left in the dark here, which is never a good sign. Isn’t this the most obvious question you would ask a broker? What’s the point of trading if you don’t know whether and how you’ll get paid? Again, this information was omitted on purpose due to the scammer’s way of operating. The fraudster will first contact you and then reveal how much it wants you to pay, so be careful.

Also, remember the names of the VintageMarkets, RevolutExpert and Gamma Capitals trading scams and avoid them at all costs! Moreover, always check the background of online trading companies before investing!

Bonuses – Terms & Conditions

Gain Trade did not even bother doing this by the book. There’s no legal section on the website. Hence, there’s nothing on bonuses even though they are the preferred weapons of most scammers. However, it matters not since the T&C and Privacy Policy weren’t included. Major red flag, folks.

Scammed by Gain Trade Broker? – Let Us Hear Your Story

It’s unfortunate and we feel for you. Let’s try to fix it. Since we don’t know how this broker gets money, we’ll simply explain the three basic methods most brokers accept and the possible ways to get a refund. Enter the chargeback, recall, and crypto tracing. A Chargeback, A Recall, And Crypto Tracing?

A chargeback is a process of reversing credit/debit card transactions. It is performed by the issuing bank within 540 days. A recall is the same thing for wire transfers. However, for it to work, the transaction must not be completed. Crypto trading allows you to track transactions to a wallet within an exchange. Afterward, request a refund from the exchange.

What Is Gain Trade?

Gain Trade claims to be a long-standing, internationally licensed broker.

Is Gain Trade a Scam Broker?

Gain Trade is an outright scam broker that’s completely anonymous and unregulated.

Is Gain Trade Available in the United States or the UK?

Broker is available in the United Kingdom, we know that for sure. But, we’re not quite certain about the United States.

Does Gain Trade Offer a Demo Account?

Gain Trade does not offer a demo account. It offers only a live account used to scam people.

FxxTrader is another offshore broker on the market. Your money could be at risk with this company. Is FxxTrader regulated? How does trading with this company work? We’ve answered all this and more in our in-depth FxxTrader review.

• Regulation and Security of FxxTrader
• Warnings From Financial Regulators
• Is it possible to make money with a FxxTrader broker?
• Scammed by FxxTrader?

Regulation and Security of FxxTrader

FxxTrader is a brand owned by TMA Consulting Limited based in the Marshall Islands. According to Terms & Conditions, the website is operated by Bulgarian-based company BONLUKI Consulting Ltd. It remains unclear why one company owns the website and the other one is running it. What is for sure, FxxTrader regulation doesn’t exist in Marshall Islands nor Bulgaria.

When it comes to the security of the funds, there are no guarantees since the company is offshore.

We strongly recommend you avoid unregulated offshore brokers.

Warnings From Financial Regulators

Since we are talking about an unregulated offshore broker that is related to the EU through Bulgaria, we decided to verify if any regulatory body noticed this company.

The UK FCA issued a warning stating that the FxxTrader broker is not regulated and operates illegally in the UK. Furthermore, they invited everyone involved with this broker to report it. The same warning came from Italian CONSOB as well.

Based on our review, we can conclude that the broker is operating illegally in all the countries.

Is it possible to make money with a FxxTrader broker?

When it comes to offshore brokers, this is always the question. The broker is not anywhere near, and there is no regulatory body monitoring it. However, the biggest issue is not to make money; it’s to withdraw it. Suppose you deposit with a scam broker, high chances to see some profits on your MT4 trading platform. But when you try to withdraw this same profit, the problem will arise. Why? Because scam brokers tend to disappear when the payout comes to order.

Based on several regulatory bodies’ warnings, we can confirm that FxxTrader is a scam broker with no license, and there are no guarantees for your money.

We strongly recommend you look for a broker with tier-one regulation such as FCA or ASIC.

Scammed by FxxTrader?

If FxxTrader scammed you, there is a possibility to get your money back. You are not the only victim of FxxTrader broker. You need to file a dispute and request a chargeback. Contact our support via chat immediately, and let’s get your money back! Do not let the scam broker go away for free!

Is FxxTrader a good broker?

FxxTrader is an offshore broker with no regulation. We can say that it is not a good or legit broker.

Is FxxTrader a Scam?

FxxTrader is a broker based in an offshore country, Marshall Islands. The broker has no regulation by any regulatory body for its activities.

Is FxxTrader regulated?

No. FxxTrader is based offshore, in the Marshall Islands and has no regulation by any regulatory body.

Are Funds Safe with FxxTrader?

No, your funds are not safe with the FxxTrader broker. It’s based offshore and has no regulations for its activities.

Think of the scam broker apparatus as a hydra from Greek mythology. You slice one head off, two more grow to replace it. These fraudsters appear in a similar fashion. Here, we dealing with one that had its website “sliced off,” in other words, taken down. The next section of the MTInvesting Review will deal with the (il)legal status of our subject.

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

Why Choosing MTInvesting Broker Is Not The Right Choice?

First and foremost, we have to announce that MTInvesting’s website was unavailable for this analysis, thus we had to gather information from other sources. Without further ado, let’s dig into the investment scam. 

The website was originally exclusively in Italian, which means that the speakers of that language were the designated targets. Next, we’ve found a Canadian address that is unmistakably fake, with no phone number at all. Therefore, there is no doubt in our minds that we are dealing with a crooked financial swindler that is unlicensed.

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

For safe trading, it’s best you trust a reliable and legitimate provider that is registered with Tier 1 regulators such as the FCA, BaFin or CySEC. After checking the websites of these regulatory institutions, we’ve found nothing on our shady broker. That’s a red flag.

How Reliable Is MTInvesting Broker?

MTInvesting is an unlicensed trading scam. The firm is anonymous and has been blacklisted by the Italian regulator CONSOB.

Warning From the Italian Financial Regulator CONSOB

Only thing we did find was a warning issued by the Italian regulator CONSOB. Being blacklisted by this authority has sealed the fate of MTInvesting and destroyed its scheme. Here’s the warning:

What Web-based Trading Platform Does MTInvesting Offer Access To?

From what we managed to find out, the unique web-based trading platform that MTInvesting used to offer looked at least somewhat decent but failed to meet the prerequisite standards for a great trading experience. Nevertheless, it is unimportant since nobody can access it at the moment.

If you desire true and reliable software, then we’ve got two for you – Meta Trader 4 and 5. These are the industry’s leading platforms when it comes to the quality and tools they offer so do not bypass them. 

What Do We Know About MTInvesting Account Types?

We were unable to find out anything about the account types that MTInvesting used to offer. So, not much to tell here. However, what we can say is that scammers like this one most frequently rely on the initial deposit that clients make. 

They simply take that money, put it in their pockets and rinse and repeat the process with a new client until they either vanish or get taken down, as is the case with this fraud. 

Also remember the names of the Winnex Consulting, BUX Forex and Gamma Capitals trading scams and avoid them at all costs! Moreover, always check the background of online trading companies before investing!

Can a Trader Use a Demo Account?

Pertaining to everything said in the previous section, we got one more point to make. It also relates to our financial scammer but it’s important to remember in general. Make sure that the broker you’re signing with offers a free demo account that will give you insight into its offer, trading assets and platform. MTInvesting was smart to include one.

What Is Known About MTInvesting’s Trading Conditions?

The minimum deposit is €250, not unusual but also too much considering the shady background of MTInvesting. Next, the leverage is set at 1:200, which could be very ungrateful to beginner traders since volatile markets bear great losses with such high leverage.

When it comes to spreads, for EUR/USD major pair we had 3.1 pips and that is really not fair. A spread wide as a football pitch will certainly not help you make profits so watch out for that. 

Deposits & Withdrawals 

Based on the available information, MTInvesting had only wire transfers as the acceptable payment method. This method is unsophisticated compared, for example, to crypto payments, which are much harder to trace and provide a higher degree of anonymity.

One more thing to mention regarding payments is that the fraudulent broker requires the client to contact it prior to paying. This is another one of the shady tricks scammers use to ensure they got the right person to defraud. Also, there was no information about withdrawals or fees.

Why Do Scammers Prefer Cryptocurrencies?

Cryptocurrencies are convenient for scammers because they have the possibility to remain anonymous. Plus, it’s not easy to trace these transactions. Another probable scenario for payments with MTInvesting is this – the broker makes you contact your account manager who then redirects you to crypto payments instead of wire transfers. 

Should this happen to you, know immediately that you’re dealing with an outright scammer that’s dishonest, non-transparent and amoral.

Scammed by MTInvesting Broker? – Let Us Hear Your Story

We understand your frustration if you’ve fallen victim to this malicious scheme. But it could have happened to anybody, there’s no reason to be ashamed. The silver lining here is that there is a small chance to get your money back. How? By way of recall of course!

But What Is A Recall?

Since MTInvesting stated it accepts only wire transfers, you should know that it can be reversed. This is known as a recall. The only problem is that the transaction cannot be completed for the recall to work. Hence, you must act with haste and hurry if there’s still time!

What Is MTInvesting?

MTInvesting claims to be a reliable broker with a website in Italian.

Is MTInvesting a Scam Broker?

MTInvesting is a classic scam broker that is unregulated. It has even been blacklisted by CONSOB.

Is MTInvesting Available in the United States or the UK?

MTInvesting did not specify which clients it accepts but since the website was exclusively in Italian, it would’ve been harder for English-speaking traders.

Does MTInvesting Offer a Demo Account?

Our deduction is that  MTInvesting did offer a demo account on the website.

ForexTB is a relatively new broker on the market. We did our review to verify can this CySEC regulated broker be trusted. Read our in-depth review on FXTB broker and find out.

• Regulation and Security
• In which countries does this broker work?
• Is it possible to make money with an FXTB broker?
• Scammed by ForexTB?

Regulation and Security

FXTB is owned by Forex TB Limited. This same company is the owner of another forex brand, PatronFX, that opened in January this year. The company is based in Cyprus and regulated by CySEC. 

The company does not list where the funds are held, are they in a segregated account, and in which banks.

So far, we cannot conclude much. This is why we decided to search more.

In which countries does this broker work?

The FXTB broker operates within the EEA zone according to CySEC regulation. The broker listed that it does not provide financial services to residents of Belgium and Switzerland on its website. Why the broker is avoiding these two countries remains unknown.

Also, the company can offer limited services within the UK because it does not have the FCA regulation. And according to new rules since Brexit, any company with EU approval can only partially operate in the UK while waiting to be approved by the FCA.

Is it possible to make money with an FXTB broker?

Whenever you start trading with some broker, the question is not can you make money. The question is can you withdraw it. Because you can see your money on the screen. That is never a problem. The problem comes when you want that money out inside your bank account. This is when the broker starts giving you excuses and restricting your access.

When it comes to FXTB broker, it is offering both web trader and MT4. The web trader is less secure, and the broker can easily manipulate it. That is why it is never a good choice.

The minimum deposit with the FXTB broker is 250 EUR. There are brokers allowing you to start with $100 or even $10. This is a much more comfortable option if you are a beginner and want to test everything out.

If you think that the Demo account is a good option, the FXTB broker offers 100,000 units. Practically, you cannot get the real market experience. It is much different when you have 250 EUR at your disposal and when you have 100,000 EUR. The margin, the leverage, everything is changing. For the professional account, the leverage is 1:400, while small accounts can get only up to 1:30.

However, according to reviews, some clients experienced issues when withdrawing profit from FXTB broker. Be aware that it can happen, and ask for help if you think you are being scammed.

Scammed by ForexTB?

If you were scammed by a ForexTB broker, do not hesitate to ask for help. You are not the only victim. And there is a solution. You need to file a dispute and request a chargeback.

But what is a chargeback? It’s a way of refunding your card in case you were a victim of a scam. Contact us for help immediately, and let’s get your money back!

Is ForexTB a good broker?

ForexTB is a broker regulated by CySEC. It is a new broker on the market, and there have been a few complaints about it.

Is ForexTB a Scam?

FXTB is a broker that is operating under the license of CySEC. Yet, there are complaints about this broker’s work. We recommend you to be careful.

Is ForexTB regulated?

Yes, the broker has the CySEC regulation.

Where is ForexTB broker based?

ForexTB broker is based in Cyprus and regulated by CySEC.

A short glance at the FX Wonders website told us we are dealing with a fraudulent broker. Why? The first thing you see on the website is the name “Financity.” You might think it’s some sort of a company owner or anyhow related. Yet, it’s a legit US financial company not associated with this offshore scam.

We decided to expose what else the FX Wonders broker lied about in our review.

FX Wonders Regulation and Security

FX Wonders is one of those anonymous, shady brokers that haven’t listed who stands behind the entire operation. That’s why we marked it as the first red flag, one of many on the list. All we see is some dubious address from Saint Vincent and the Grenadines. This exact address was used by scam brokers, including CCXMarkets, HonorFX, WesternFX, and many more.

Once we tried to contact the support team and ask if the company is regulated, they told us they are regulated “by the USA.” Another proof we are dealing with a lousy fraud.

Fund Withdrawal Issues

Getting money back from an unregulated broker is never easy. These people tend to take as much money as they can and simply disappear. According to FX Wonders reviews we’ve seen, this company does not hesitate to take the last penny from their clients, but once they should get a payout, their account is blocked. Does it sound like something a legit company regulated “by the USA” would do? Of course not.

Do not trust anything you hear from broker and its employees.

Beware of the FX Wonders scam and other brokers such as Zeyfex and 60op.

Traders Opinion

Checking what traders think of the broker, we came to the last and the worst red flag. According to every website showing FX Wonders reviews, the broker is stealing clients’ funds and refusing to return them. As per these reviews, clients are forced to download AnyDesk or similar software and give control of their computer to a broker. Once they do so, all of their banks are wiped out, and they have no way to return the money.

If this is something that happened to you, let us know immediately.

How Does Online Trading Scam Work?

Nowadays, trading scams have evolved on different levels. False brokers don’t choose means and tools to defraud their clients. However, everything starts with your application on some video you see on social media. This video promises a luxurious life, paid off debts, and whatnot. Only for you to invest money. And once you do, you’re falling into the black hole of scammers. A way out is hard to find, and even if you go out, the question is if you will get any of your money with you.

Never start trading before you thoroughly check the broker.

Scammed by FX Wonders?

Suppose you started investing with FX Wonders. Since our company received numerous complaints about this particular broker, we can assure you that you are not the only victim of the FX Wonders scam. If you have any bad experiences, request a chargeback immediately.

But what is a chargeback? This is a way for your bank to retrieve the money you’ve lost if you were scammed. Get in touch with our support team and get all the information during a free consultation. Let’s get your money back now!

What is FX Wonders?

FX Wonders is an online trading broker based in Saint Vincent and the Grenadines.

Is FX Wonders a scam?

Yes, FX Wonders scams clients and pretends to be a regulated company.

Is FX Wonders regulated?

No, the broker does not have any kind of financial regulation.

To be fair, this crypto exchange never appeared legitimate. Firstly due to missing regulatory oversight. Secondly because of registration in Estonia and Lithuania where most crypto firms tend to register. Mainly because of progressive legislation and low requirements for the license.

Nevertheless, this firm didn’t have any. And our ExMarkets review reveals how the company managed to get its hands on traders’ money.

All the Illegal Operations

Advanteks OÜ from Estonia, the parent company of ExMarkets, isn’t regulated by the Estonian Finantsinspektsioon. Moreover, the website gives two Lithuanian addresses, but ExMarkets and Advanteks OÜ do not appear in the regulated entities lists kept by Lietuvos Bankas (LB) – the main regulator in the country. While searching further, we concluded that ExMarkets and Advanteks OÜ aren’t a part of any database, including those of FCA, BaFin, FINMA, ASIC and CySEC.

This crypto exchange platform in the rise has been performing crypto services without any legal confirmation of their credibility. Investments made to their wallets are in risk of being stolen, locked or misused by the platform itself. 

A group of anonymous persons running the site doesn’t leave a single trace of their identity online, so we can’t tell if they’re even competent to operate the way they do. Stay clear of this crypto scam, like you would from any other, including Binatex.

Regulatory Warnings Against ExMarkets Exchange

Even though ExMarkets trade provides a user-friendly platform for crypto trading, it’s far from trusted. After all, if the company was legitimate it would be licensed in the first place. However, instead of a license, the ExMarkets scam company ended up on the FCA warning list.

This is crucial for all the crypto traders in Europe. Primarily because they know institutions are watching our every move. Therefore, if you want to keep your funds safe, you better trade with licensed companies.

MetaMask Phishing Warning – ExMarkets Website Not Safe

MetaMask is a quite popular crypto wallet that many traders opt for nowadays. However, ingenuine companies use that to their own advantage to trick inexperienced clients. For instance, this company would send you an e-mail where you have to verify your crypto wallet.

However, if you don’t do it in a given time, the account might be restricted. Therefore, traders run quickly to verify their accounts, and once they complete the ExMarkets login procedure all their details have been stolen. Ultimately, that results in all the crypto being stolen as well. So, watch out for any website where you get the message that the website is not secure.

Countless Victims

Although the domain was active since 2015, ExMarkets hasn’t always been a fraudulent crypto site. Their crypto activities have first been detected in 2018. FoxicaTrading has operated since 2015 and has been a scam ever since. 

ExMarkets has been targeting North American investors the most, as well as South-East Asia. Take a look at the countries where the swindler is most active: 

• United States
• Canada
• Indonesia 

What seems like an appealing crypto trading and staking at first, soon turns sour. The boiler room agents and their affiliates advertise ExMarkets as an impeccable platform and a sure source of stable income. Efficiency, affordability, reliability and global reach are their biggest ideals and they try to sell it to potential victims through their excessive friendliness and affection.

Naturally, scams do not help you earn but rob you. However, we counter such fraudulent cyber projects and force payments. So contact us if you ever find yourself fighting a losing battle against a crypto con.

Traders are Displeased!

The average rating that ExMarkets has on TrustPilot is 1.7/5. This itself should be a warning strong enough to let you know the place is not safe for investing. The general discontent is apparent from each individual review:

“Scammers! Everything goes very well when you are sending funds to exmarkets. However, the very first time you try to withdraw funds, the problems start. My witdrawal status is already ‘pending’ for 1.5months and te ‘customer service’ seems to be a facade and non existing.”

“Scam crypto exchange. I requested withdrawal of my Cardano coins 4 months ago and it is still marked as “pending”. No one answering support tickets. Avoid at all costs.”

“Scam! stay away! my withdrawal transaction is in progress for over a week now. They stopped responding to my messages. Very easy to deposit but you will most likely won’t be able to withdraw.”

Fake Yet Attractive Fees

Deceptive strategies are necessary when the quality of actual service is unsatisfactory. At ExMarkets, the fees are lower than industry average, which instantly had us in doubt of their truthfulness. Taker and Maker fees are at 0.12%, while there’s no funding fees. The withdrawal fee depends on the crypto coin you choose. For example, the payout fee for BTC is 0.0005 (~15 USD).

Affiliate Campaign

All fraudulent schemes look for ways to bring in new victims quickest. ExMarkets does it through their affiliate programs. Spreading the word among other crypto traders and getting them to invest supposedly earns you 21% commission. The scheme is multi-tiered and covers 3 levels of affiliate agents. 

Bogus Software

It is already known that the majority of trades done on scam platforms never actually happen. Simple, web terminals are the ones used to conduct such projects and deceive victims. Easy to manipulate and always heavily controlled by the fraud, these web platforms are the most abundant among scammers. 

The difference is obvious: they do not require downloading, are fairly comprehensive and lack advanced features severely. In accordance to that, ExMarkets doesn’t have a proprietary platform with the version for every device and offers no dedicated mobile app. 

Crypto Pairs to Trade

We’ve already mentioned that ExMarkets offers crypto staking and crypto pairs to trade. According to what you can trade against, there’s several groups of pairs:

• Crypto VS BTC (ADA/BTC, CHZ/BTC, DASH/BTC, ETH/BTC, OMG/BTC)
• Crypto VS ETH (ADAX/ETH, DDK/ETH, KEY/ETH, LINK/ETH, YAY/ETH)
• Crypto VS USDT (BTC/USDT, ETH/USDT, DODO/USDT, GTN/USDT)
• Crypto VS ADA (ADA/BTC, ADA/ETH, ADA/DOEX, ADA/EGO)

Accounts Not Offered

Even after joining the platform, we didn’t get to choose to buy any specific package. The website doesn’t give an option or any information about existing account types. We can only assume there were none to begin with. 

This is nothing out of the ordinary when it comes to scam exchange platforms. They do not usually bother to create account types or specify their prices. The sole point is to extort money in the form of a deposit.

Demo Account Unavailable

Not only is there no customized account types, but there’s no option for trial trading. ExMarkets doesn’t want you to snoop around their trading area without depositing. Neither do they want you to learn how trading works. That basically defeats the purpose of Demo. After all, they want to be able to rob you easier. 

Easy Withdrawal Promises

No one makes it sound as easy as ExMarkets does. All you have to do to withdraw funds from your trading account is enter the sum and your crypto wallet address. In just a matter of minutes you will have cash appear in your wallet. All that would be lovely if true, but we immediately know it isn’t. 

Even regulated financial services providers earn off withdrawal fees, it is impossible for an impostor like ExMarkets not to charge them. No legal docs reveal the exact costing, so you can expect surprises. Also, crypto transactions are known for being anonymous and definite, so better contact us for help if you’ve already deposited.

Unresponsive Customer Support

Almost every single one of the numerous negative reviews about ExMarkets talk about customer service ignoring complaints and being unhelpful. This is not something to be shocked about. All their purpose is to guide you to invest, that’s all they need from you. Online chat feature is not instant and you only receive answers to your email. Or better said not receive.

In Summary – Stay Away!

We’d like to offer you words of comfort and tell you ExMarkets isn’t so bad. But that would be against everything we discovered and everything their ex customers are saying. The quality of service couldn’t be worse, the support doesn’t exist and withdrawals do not work. Our only advice is to keep away from this site.

If by any chance you have already made a bad move to invest here, there’s still hope. If you contact us immediately, we can book a free consultation and direct you to our legal team. They can offer proper help and piece of advice on how to resolve your situation. 

FAQ Section

What Is ExMarkets? ExMarkets is a crypto platform that is operating without a regulation and a proper license.

Can You Withdraw From ExMarkets?

It is well known that withdrawals with crypto scammers aren’t allowed. All the victims report the same about ExMarkets.

What Is The Minimum Deposit For ExMarkets?

The site states the minimum deposit to be only $1.

Does ExMarkets Require KYC?

No where is the KYC procedure mentioned, not even in the aspect of account funding.

Where Is ExMarkets Based?

ExMarkets website claims to operate from their two offices in Lithuania.

Who Is The Owner Of ExMarkets?

The site is owned by Advanteks OÜ from Estonia, but this company does not seem to exist.

The easiest way to expose this broker is to check the company’s legal information, such as address, legal name, registration, and most importantly, license. Luckily, they present themselves as UK-based, which makes everything a lot easier.

But even if you exclude these details, there will be some other irregularities you have to watch for. Therefore, keep an eye on details in this honest LunoFx review.

Legal Info: Is LunoFx Legit Or A Scam?

To recognize any investment scam nowadays is quite easy. Checking the regulatory status of the company is the first step. In this case, LunoFx should primarily have a license from the Financial Conduct Authority (FCA). Or at least be on the TPR list (Temporary Permission Regime). Yet, they aren’t.

On top of that, none of the other regulatory databases hold any records of this firm having a license. Starting with CFTC, IIROC, ASIC, or BaFin. Practically, without those, all the company’s security features are meaningless.

Who Are LunoFx’s Victims?

In general, the LunoFx broker didn’t have enough time to build or destroy its credibility. After all, analytics show their website has been active for only a few months. Still, some patterns are already visible. It appears this firm is mainly targeting traders from: 

• Netherlands
• South Africa
• Mexico
• Australia
• Cyprus

Therefore, if you are coming from any of those, open four eyes. Thus, if you are already involved with this company, feel free to contact us for a free first refund consultation.

Investment Costs With LunoFx

Another key problem with this broker is that none of the relevant costs are revealed. Not even the leverage is disclosed. If you think about it, there’s no reason to purchase anything that has unclear conditions, especially when big amounts of money are in play. 

In any case, you should bear in mind that UK brokers can offer maximum leverage of up to 1:30 for retail customers. Legitimate ones, of course.

Bonuses

Another feature that exposes this broker as a scam is a welcome bonus policy. For any $10 bonus, traders have to reach 10 mini lots (or one lot) that equals $100.000. Practically impossible, and before you reach those requirements, you can’t withdraw any funds. Moreover, such features are banned all across Europe for these reasons.

LunoFx Trading Features

The company claims to offer advanced customization and charting options, a user-friendly platform, trading signals, a trading bot, and more. Yet, there’s no proof any of that is true. If they only had transparent access to the platform, everything would be different.

Trading Platform Available

Every unregulated broker offering trading bot most likely has only a web-based platform. This way, they can modify what traders see from the backend and make it look like the bot is making profits.

That’s the easiest way to gain traders’ trust and make them deposit more money. Yet, to avoid such problems, we suggest you trade with brokers that offer cTrader or Meta Trader. This is not the case with LunoFx.

Available Trading Assets

Generally, offering more than 1000 assets from 5 different categories is not a bad deal. However, the reliability of data presented about those is highly questionable. Anyway, some of the options are: 

• Forex – GBP/AUD, NZD/HKD
• Indices – DAX30, FTSE100
• Commodities – gold, natural gas
• Shares – Netflix, Airbus
• Cryptos – ETH, DOT

Account Types

As can be seen, LunoFx account types only present you with a bunch of fictive benefits. Such as risk-free trades, financial planning, independent contracts, VIP events, and more. Yet, they require insanely high deposits to get started with those. The options are: 

• Bronze – $2.500
• Silver – $5.000
• Gold – $10.000
• Premium – $25.000
• Platinum – $50.000
• VIP Exclusive – $100.000
• CEO Managed – $500.000

Mobile Trading App

More disadvantages of this brokerage can be found while trading on a mobile. Instead of secure and fast iOS and Android apps, traders have to use a browser. Not the most convenient method if you like trading. Therefore, we suggest you read our LionTrader review and find some useful tips about security with a broker.

Demo Account

Demo accounts serve traders as an inspection route. This way, traders can ensure the brokers’ offer is reliable. 

However, on the LunoFx platform, that’s not an option. If you compare it to any other legitimate broker, you will see why is important.

Education

Educational program with LunoFx scam broker is nothing but unreliable. After all, you will be learning from unlicensed traders. But in general, if they were legit, the options would be quite good. You can get technical and fundamental analysis lessons, live webinars, and risk management education.

LunoFx Withdrawal

The biggest issue with the LunoFx online trading platform is the withdrawal procedure. In fact, the company provided zero details about the procedure, fees, or processing time. Therefore, you can expect a wide range of issues. Starting with verification of your account and AML laws.

Customer Support

If you didn’t catch up with all the warning signs, you just have to check the company’s contact options. Only e-mail addresses and web question forms are available. 

Yet, this company does not have phone numbers, Skype, or anything more reliable. Still, even that wouldn’t mean anything, as we can see from our VintageMarkets review.

Key Information To Consider About LunoFx

Firstly, the company is not licensed by any authority, especially not in the United Kingdom. On top of that, they are offering highly suspicious services on even more suspicious platforms. Not to mention unclear trading conditions, withdrawal fees, and poor customer service.

All in all, if traders took a minute to think about the company’s offer, nobody would accept it. Thus, very often, they crack under pressure. Therefore, if you lost money with this brokerage, reach out to our refund experts for advice. Don’t worry, the first meeting is free of charge. Book yours now.

FAQ Section

What is LunoFx?

LunoFx is an anonymous FX and CFD trading firm operating allegedly from the United Kingdom.

Is LunoFx Regulated?

No. Primarily, the company is not licensed by the UK’s most important authority – FCA. Neither are they licensed by any other more or less trusted institution.

What is a Chargeback?

A chargeback occurs when a cardholder disputes a charge on their account, and their bank reverses the debit or credit card transaction. To start the process, contact us.

Trytrade broker has allegedly offices in 3 different countries. But what surprises us is that the broker doesn’t share any ownership information. Even though they are operating from the strictest trading regulated countries, something is missing.

All potential risks of investing with Trytrade trading company are revealed. To find out what can cost you the most, read this Trytrade review carefully.

Also, remember the names of the Dripcoin, StellarFX and CMTPRO trading scams and avoid them at all costs! Moreover, always check the background of online trading companies before investing!

Trytrade Unlicensed And Risky Brokerage?

Three countries where Trytrade broker has offices are UK, Switzerland and Luxembourg. Even though Luxembourg has one of the highest living standards they are not popular for trading business. Therefore, we will take a look at Finma and FCA registers. But without a doubt, Trytrade company doesn’t have any licenses to provide trading services.

Trytrade is Unregulated Europe-based  broker. Non-transparent trading conditions. Only web trader available. Extremely high minimum deposit requirement without credibility.

Additionally, some other Tier 1 regulators besides FCA never authorized this broker for trading services. To be precise, we are talking about BaFin and ASIC. This means that traders don’t have any fund protection measures available. Not to mention compensation funds.

Trading Platform and Other Apps on Trytrade

In general, a trading platform plays a key role in choosing a broker. Of course, after the regulations. After all, once you realize that you don’t have any trusted third-party software, you know there is something shady. At least with non-licensed brokers like Trytrade.

This broker provides proprietary web trader that doesn’t even fit beginner traders. Besides its easy navigation, there is nothing much more to provide. Traders don’t have the option to use social trading or copy trading features, but also automated trading options.

Therefore, looking for a licensed broker with Meta Trader or cTrader already looks like a good choice.

Trytrade’s Trading Assets and Instruments

As expected, this scam broker offers most of the major trading classes. Traders can choose between:

• Forex                     EUR/HKD, HKD/SGD, AUD/NZD
• Commodities            gold, platinum, silver
• Indices                      FTSE 100, Dow Jones, DAX 30
• Shares                      Microsoft, Google, Facebook
• Cryptocurrencies       BTC, ADA, XRM

But whatever assets they offer, they don’t have the authorization to provide such services. Moreover, trading conditions for those are missing. Which makes this whole business even more suspicious.

Trytrade Countries Of Service

The countries where Trytrade broker mainly operates are ones with strict regulations. But we could already see that they don’t care much about those.

Especially if you read Trytrader reviews you can find a pattern. They are mostly scamming traders from:

• United Kingdom
• Australia
• Luxembourg
• United States

Trytrade List of Account Types 

Trytrade account types are another suspicious matter. They offer 6 different options:

• Bronze          $2.500
• Silver            $10.000
• Gold             $25.000
• Platinum       $50.000
• Diamond       $100.000
• VIP               $500.000

What makes it unattractive as the offer is leverage above the maximum allowed according to ESMA. Also, a welcome bonus that is widely banned. So, if you don’t lose money due to high volatility, high leverage and lack of negative balance protection, you will be due to a bogus scam. That’s why these shady brokers have bonuses with malicious clauses. That trades mostly oversee.

Can a Trader Use a Demo Account?

Unfortunately, Trytrade scam broker doesn’t provide any risk-free solution. Many licensed brokers nowadays offer at least micro accounts.

But many of those offers as well a demo account. However, that’s not the case with this company.

Terms of Service for Trytrade

As with many other scam brokers, the most problematic part is withdrawal. First, we need to understand the benefits and downsides of some funding methods. The broker only accepts following:

• Debit/Credit cards
• Wire transfers

Even though minimum deposit for a bronze account is $2.500, the broker will accept as well $250 for any account type. That tells you that their goal is just to convert you as the client.

Moreover, the broker claims that all fees must be paid prior to any service. Therefore, before you request a withdrawal you must pay all the fees. Which are not disclosed by this broker. In addition to that, they have a bonus policy that requires a 25 times bigger trading volume ( award amount + deposits) before you can make a withdrawal.

Leverage, Spreads and Fees

As the broker that trades in Europe, they should comply with some rules. We already saw that this scam broker avoids many. The same is with leverage of up to 1:100. Important to realize is that ESMA (European Securities and Markets Authority) allows a maximum of 1:30.

Even though the spread on the platform starts from 0.1 pips that are still questionable. Since this broker is not regulated. Additionally, their fees are explained in the T&Cs section, but none of the percentages are disclosed. That means you can expect anything.

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

You are not the first or last person that got scammed by this trading company. However, it’s important to share your experience with other traders. This way you can raise awareness about these brokers’ scamming activities. Which leads to institutions and regulators issuing warnings.

Since they are not licenses, the only way to get away from these guys is a chargeback. Our specialized fund recovery team is there to advise you on any steps that you want to make.

What Is the Chargeback Procedure?

Trytrade broker accepts mostly card payments. This is a very positive thing, because only on those you can file a chargeback request. Once you provide proof of scamming activity you can make such transaction reversed. But only in the first 540 days.

Not to break your head thinking about what to do, you can contact us for a consultation. Don’t let these swindlers get away with your money. Get in touch today.

What Is Trytrade?

Trytrade is allegedly European broker offerings services worldwide without authorization.

Is Trytrade a Scam Broker?

Yes. They are not a licensed broker and Trytrade reviews acknowledge that as well.

Is Trytrade Available in the United States or the UK?

This broker offers services to citizens coming from both mentioned countries. Of course without licenses.

Does Trytrade Offer a Demo Account?

No. There is no risk-free choice for traders to test their platform or services.