LloydFX brokerage is suspected to be an online trading fraud. There are many unclear things related to the company, which led us to believe that something is not as it should be.

Read our Lloyd FX review and check for yourself why the company has a lousy reputation only a couple of months after establishing.

LloydFX Regulations and Security

For a start, LloydFX claims to be owned by LLOYD GEORGE TRUSTWORTHY SERVICES LIMITED. Once we searched for this company in the UK company’s register, we found that it does exist, but it’s an accounting office. The company was established in 2010 and has been active ever since. It led us to believe it has nothing to do with the LloydFX trading platform and its frauds. Also, there’s no regulation with the FCA, which is a must for every UK-based online trading broker. Therefore, we’re certain Lloyd FX is a scamming broker you should avoid.

Fund Withdrawal Issues

As’s the case with many unregulated brokers, LloydFX doesn’t let clients withdraw their money either. Everything sounds marvelous at the start, the company is based in the UK, which sounds legit and reputable. According to LloydFX reviews, some employees are even convincing inexperienced clients that the broker is FCA regulated. Once you invest your funds, you might even make some profit so that you start trusting your account manager.

Problems come once you want to withdraw your money. You’re being ignored, an account manager is suddenly unavailable, and you might even see that your trading account is blocked.

Beware of Lloyd FX scam and report any inconveniences immediately.

Traders About LloydFX Scam

As per Trustpilot and similar websites for reviews, LloydFX is rated as poor. Clients are highly unsatisfied with the service, and most of them filed a complaint. Here’s just one of the examples:

It seems I already wrote a review, and then it won’t come up, so I guess I should write it again. It seems I have been unable to withdraw my money from my account and close my account. I was told that in order to withdraw the total of my account I would have to deposit the exact amount into my wallet.

This does not make sense to me, and I refuse to send any more money to any account they set up for me. It is nearly three weeks since I requested to close my trading account with them and I still haven’t received any replies to my emails or any money.

Don’t invest any money with these guys unless you check them out thoroughly.

Trading Scam Victim

So, you should avoid LloydFX forex broker and similar brokers such as Invests360, 4x trade and NewCFDs.

How Does Online Trading Scam Work?

If you ever saw an ad for online trading, you must have noticed that most of them are overpromising. And on one side, you can say it’s just marketing, and you should know better. However, once you sign up for such an ad, the broker’s employees will continue with false information. For example, if you’re involved with LloydFX, their employees will try to convince you that you’re dealing with a UK-regulated brokerage, and you can withdraw your funds anytime. An account manager will persuade you to invest more and more until you have nothing left. At that moment, you will become a non-valuable asset for the company, and your account will be suspended.

If you experience something similar, contact us immediately.

Scammed by LloydFX?

If you have been scammed by LloydFX or a similar bogus broker, let us know immediately. We need to file a dispute and request a chargeback before it’s too late.

But what is a chargeback?

A chargeback is a way for your bank to reverse the transaction if you have been a victim of a scam. To get your dispute resolved successfully, you need to provide sufficient evidence. That’s why it’s best to have assistance from professionals. Leave your details on our online chat and book yourself a free consultation. Let’s get your money back now!

What is LloydFX?

LloydFX is an online trading brokerage from the UK without an FCA license.

Is LloydFX a scam?

Broker operates without the FCA regulation and has been accused of fraud.

Is LloydFX regulated?

No, LloydFX doesn’t have any kind of financial regulation for providing financial services.

In the first place, we have to mention that this investment firm is absolutely anonymous. None of the reliable details are presented to clients, starting with owners, headquarters or trustworthy contact details.

These are just a few of the irregularities that this Bitlerz review presents you with. But if you keep reading you’ll find also their darkest secrets.

Legal info: Is Bitlerz Legit or a Scam?

As with any other trusted exchange, you would expect bitlerz.com to operate with a license. Yet, none of the trustworthy institutions have issued it. We’ve checked them all, starting with the FCA, BaFin and ASIC as the most trusted ones.

Considering the lack of regulations you can’t expect any promises from the company to be truthful. Especially if they are hiding their ownership details. All in all, the company is not obligated to comply with any rules. Therefore, prepare your nerves for a rollercoaster.

Who are Bitlerz’s Victims?

It seems that this company registered multiple domains around the same date. According to who.is, you will see this company was first created in April 2023. Research shows that the exchange mainly targets the following countries:

• France
• India
• Italy
• Pakistan
• Belgium

But if you are also a victim of this exchange or any copy-cats they have, contact us for refund assistance. Two known brands with the exact same T&Cs are bittup24.com and xafexbit.com. Yet, to understand how to avoid these things, read fully our Coin2FX review.

Traders Reviews

One of the key warning signs is the Bitlerz reviews. Actually, there are only a few of those available on Trustpilot. Yet, the real picture is given and you can definitely see why not to trust this company. Out of 8 comments, already 40% come with the worst rating.

Seems like the company was using a malware or a malicious software to access victims’ data. Be careful with trusting any unregulated firm. But if you already have, feel free to book refund consultations with our experts.

Investment Costs

The company has two levels of fees. The regular ones and premium ones.  Both maker and taker fees are fixed at 0.2%, while the Premium account holders can get 0.14%. Not a big difference, especially seeing other regulated companies offering far less.

Bonuses

Bonuses are always a nice way to trick investors into depositing more money. Ultimately, you end up sending them real money in exchange for virtual credit. That’s not quite a smart deal. 

Just be aware of the bonus policy and don’t accept anything you don’t understand. But to equip yourself with knowledge, read our Profit Trade review as well.

Bitlerz Trading Features

All the features of this exchange are based on manipulation. Without regulations, whatever this firm offers you becomes questionable, starting with their platform and conditions.

Trading Platforms Available

Reliable exchanges offer trusted apps with download options. In the case of Bitlerz, you can only access your account through the browser. Not quite a convenient method knowing that the company can manipulate everything on its platform.

Available Trading Assets

All the assets on the platform are presented in correlation with the USDT.  Even though they offer the most popular choices, data reliability is not at the highest level. Anyway, some of the options are:

• BTC/USDT
• DOGE/USDT
• BNB/USDT

Account Types

As mentioned, traders can choose between Regular and Premium accounts. However, the requirements for those are not revealed by the company. Most likely, once you deposit their desired amount of money, you will be informed about some benefits.

Mobile Trading App

More warning signs are coming with a lack of trusted mobile apps. If you look at any other legitimate exchange you’ll recognize them by the app. But, with this exchange, that’s another missing feature that should keep you away from them.

Demo Account

A demo account is not something clients can use with this firm, even though the access to the platform is free. But without a transparent approach, you shouldn’t even register with this company.

Education

Knowing what you are doing with your money is the key to success in trading. If you don’t understand it and you trade relying on luck, you may as well try roulette. That’s why legitimate companies offer you a wide range of educational products. Yet, with this one, that’s not the case.

Bitlerz Withdrawal

You could already see from reviews that withdrawals are a nightmare. Especially since the company doesn’t reveal withdrawal fees, yet, they mention to have those. 

Moreover, none of the withdrawal methods or processing times are known to customers. Therefore, there is plenty of space for manipulations.

Customer Support

Another weak point of this firm is its support. In fact, it’s only available via e-mail. While other contact features are not publicly available.

Yet, once you become their client you can expect encrypted contact services. Of course, to still hide their identity. Be sure, that at one point, this company will stop responding to your requests.

Key Information To Consider About Bitlerz?

In the first place, there is a lack of transparency. Whether about owners, commissions, fees or anything else. Moreover, they are using highly suspicious software. Not even the reviews are promising.

All in all, not a company worth the trouble. But if you were already their victim, don’t worry. Our refund specialists are even equipped to track crypto transfers with our CipherTrace technology. Be the first one to see it in action. Book your free consultation now!

FAQ Section

What Is Bitlerz?

It’s an anonymous crypto exchange that is offering fake crypto investment services on multiple domains.

Is Bitlerz A Scam Or Legit?

The company is an absolute scam. Other brands are also exposed. So, if you were a victim of any of those, feel free to contact us for refund assistance.

How to make a currency withdrawal on the Bitlerz exchange?

Opening the website of CDG Global, we were overwhelmed with the scam feeling. Seeing a broker that so transparently offers clients cashback and bonuses instead of some trading conditions, such as low spread or appropriate leverage, means that they have nothing else to offer.

Yet, we didn’t give up. We moved forward and did our CDG Global review.

CDG Global Regulation and Security

Here we come to a hard one. Where is CDG Global regulated, and how? Since the company has 3 different entities, their operation reminds many of ForexMart and other brokers that have regulations and own a scam entity.

CDG Global has its offices in Labuan, Cyprus, and Australia and holds regulations by CySEC and ASIC. However, what happens with the Labuan entity? Who are they regulated by? And what should investors do if they are assigned with this particular one?

Since the broker can assign clients according to his own discretion, you can never be sure under which jurisdiction you belong, and are you dealing with a bogus or legit operation.

Fund Withdrawal Issues

Suppose you started trading with CDG Global and invested a minimum of $50. And suppose everything goes tremendous, and you’ve made some profit. How will you withdraw this profit to your bank if you have no idea to which regulatory jurisdiction you belong, if any? How to know which documents to submit and what to do?

According to many CDG Global reviews, clients are experiencing severe withdrawal issues. Do not fall for the CDG Global scam also stay away from brokers ApmeFX, Eurivex, TeraFX.

Traders Opinion

As mentioned, clients do not have the best opinion about CDG Global forex broker. They are frustrated that they go from one support to another, begging for their own profits and being declined. Moreover, the broker is not known for its professionalism and good behavior. According to reviews, if clients want something that company is not willing to provide, they are getting silent treatment and suspended accounts.

Very decent behavior for allegedly regulated operation.

How Does Online Trading Scam Work?

Have you ever had experience with trading, you know that the first step is signing up for an ad about investing. After this step, you are trading, being provided with a platform, such as MT4 or MT5. And once you make a profit, the point is to withdraw it. Some brokers are conducting scams at the very start, taking money from your card or bank account and disappearing.

Others have more sophisticated tools, keeping you in the trading loop for years without withdrawals and any profits.

If you recognize yourself in this story, report it immediately.

Scammed by CDG Global?

If you were scammed by CDG Global or any other unscrupulous brokerage, there’s a way of getting your money back. Do not get desperate, and do not hesitate to start the refund process now. File a dispute and request a chargeback.

But what is a chargeback? A chargeback is a bank process of refunding money from the merchant in case you were scammed online. Our company recently resolved many similar issues, and we would love to hear your story too. You are not alone.

Contact us via chat, and let’s get the funds back.

What is CDG Global?

CDG Global is an online trading brokerage based in Labuan, Cyprus, and Australia.

Is CDG Global a scam?

CDG Global has an offshore entity which is always a scam indicator since it’s unregulated.

Is CDG Global regulated?

Two of CDG Global entities are regulated, while the one in Labuan is not.

Bitdach is not a legitimate Forex trading platform, as the website purports. On the contrary, the platform is fraudulent. Operating under a veil of deception, the sham broker has preyed on unsuspecting investors for months. 

Bitdach’s antics have recently been exposed and blacklisted by Germany’s Federal Financial Supervisory Authority, BaFin. This alarming revelation prompted us to do the Bitdach Review and warn potential traders about the dangers associated with the shady platform.

Legal Info: Is Bitdach Regulated?

Bitdach is a virtually anonymous website with no information regarding the firm’s legal background and regulatory status. We checked the provided address only to find out that the platform had been blacklisted by the German BaFin market watchdog, as was the case with Euprofits. 

On January 17, 2024, BaFin launched an official investigation into the shady business, issuing a warning to domestic traders and investors not to invest in the platform.

Suspected of providing unauthorized financial and investment services, Bitdach’s operations seriously breach laws by operating without regulatory oversight. Consequently, investors face the risk of losing their funds under dubious circumstances. 

Selecting a regulated financial service provider is crucial to protect your funds. We advise you to choose companies that are controlled by esteemed financial authorities, including the FCA (UK), ESMA (Europe), CFTC & NFA (US), ASIC (Australia), IIROC (Canada), JFSA (Japan), MAS (Singapore), and others.

Regulated brokers follow strict guidelines and provide safeguards such as negative balance protection, segregation of client funds in top-tier banks, and compensation plans to mitigate potential losses.

Who Are Bitdach’s Targets?

According to godaddy.com/whois, the bitdach.com website domain was created on October 27, 2023. Since then, the financial swindler has been targeting mainly unwary traders and investors who reside in the following countries:

• Germany;
• Tunisia.

Germany is a rigorously regulated jurisdiction, known for stringent laws and meticulous supervision of the financial market. BaFin’s goal is to prevent unauthorized entities from running fraudulent schemes.

The stern regulator requires each financial market participant to obtain the necessary permit to operate. To reiterate, Bitdach has no license, meaning the broker directly violates German, i.e. European regulations.

Trader Reviews – Sharing Experiences

The Bitdach reviews on popular forums such as Trustpilot are mixed, with several users claiming they were scammed by the dubious brokerage firm. We assume the digital thieves behind the platform are targeting potential victims through various social media platforms or by running dishonest marketing campaigns. 

Therefore, we strongly discourage our readers from sharing personal information with suspicious profiles and anonymous accounts. It is crucial to discern honest reviews regarding a specific provider to determine whether the business is legitimate. Exercise caution to protect your financial assets.

Which Trading Platforms Are Available?

Despite promising MT4, Bitdach fails to deliver any credible software. The only available trading platform is a rudimental web terminal supporting the trading of popular instruments such as Forex currency pairs, CFDs, and cryptocurrencies. However, it lacks advanced tools. 

This dubious terminal allegedly supports Bitdach AI trading but given the provider’s questionable background, it’s likely that the AI bots are just a ruse and that the platform is being manipulated to deceive users.

For a more comprehensive trading experience, we strongly advise opting for a licensed provider that incorporates reputable third-party software such as MetaTrader 4, MetaTrader 5, or cTrader.

MT platforms support advanced features such as automated & algorithmic trading, sophisticated charting, real-time market reports, API integration, 20+ timeframes, Expert Advisors (EAs), and instant order execution. Just make sure your provider is licensed to offer such services.

Leverage, Spreads, Commissions, Demo Account

The maximum leverage Bitdach offers is unknown. Keep in mind that the legal cap in Europe & Australia is 1:30 and in North America 1:50 for retail clients. High leverage is a double-edged sword; it can bear significant profits but also lead to devastating losses. Unreliable broker firms such as AcapitalGroup.co are known for exposing users to such risks. 

As for the trading costs, i.e. spreads and commissions, the bogus website did not reveal any relevant information, raising concerns about the platform’s legitimacy. 

Another notable red flag is the lack of a demo account. Such a risk-free trading account serves as a crucial tool for novices, allowing them to practice with virtual funds before venturing into the high-pressure realm of trading with real money. Every legitimate broker offers a demo account nowadays so choose your provider wisely.

Deposit and Withdrawal Process

The website listed three payment methods that can be used to fund live trading accounts and withdraw generated profits:

• Credit/debit cards;
• Wire transfers;
• E-wallets.

The Bitdach minimum deposit, as well as the related fees, remain a mystery. Just bear in mind that this broker isn’t worth a single penny. 

Given the negative aspects of this platform we have outlined thus far, Bitdach withdrawal issues are likely to befall all users, requiring them to explore fund recovery methods.

For funds deposited through MasterCard or VISA credit/debit cards, users have the option to request a refund through a chargeback at the issuing bank within 540 days. For transactions using wire transfers, initiating a recall is a potential solution, but its efficacy depends on whether the transaction is complete.

Key Facts To Consider About Bitdach

Let’s recap what we’ve covered so far – Bitdach is an anonymous trading scam targeting German and Tunisian traders. Due to operating unlicensed, the broker got blacklisted by the German watchdog BaFin. We do not recommend this platform mainly because it is not regulated or approved by a reputable financial authority. 

In case you have lost money to the Bitdach 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 Bitdach?

A fraudulent cyber trap disguised as a Forex/CFD trading platform. This isn’t a transparent provider.

Is Bitdach a Legit Broker?

No, the broker has been blacklisted by the German BaFin watchdog for violating laws and regulations.

What is CipherTrace?

A software used to trace crypto transactions to facilitate the fund recovery process. Contact us to learn more.

In the BN93 Review, we’re going to tell you exactly why you should avoid dealing with a fraudulent broker such as this one. In addition to the regulatory warnings that we found, we’re going to give our own take on this crypto scammer and everything it did wrong. 

The first fact that bothered us is that BN93 is anonymous. Thus, everything else surrounding it is shady. Let’s elaborate on that further.

In addition to the above, we strongly advise you not to invest in TBanque, ENS Invest and Titan CFD fraudulent brokers.

BN93 Is An Unregulated Scam Broker?

To cut to the chase, yes – BN93 is unregulated. The T&C and Privacy Policy sections offer no relevant information about the broker. In the About section, BN93 claims to be headquartered in Singapore. Of course, this is a lie. We checked the database of the Monetary Authority of Singapore (MAS) and found nothing.

Furthermore, crypto trading regulations are still being developed in that country. In October 2022, MAS released two consultation papers on tightening measures regarding digital assets. The consultation period ended in December 2022 but it’s not yet known when the measures will enter into force. Hence, digital asset trading is still not well-established.

BN93 is an outrageous scam broker that lied about operating in Singapore. This anonymous broker claims to offer trading in digital assets, i. e. crypto. BN93 targets traders from the US, UK, Belgium and Portugal.

Why Is It Safer To Choose Regulated Brokers?

Regulated brokers enable you to trade much safer. For example, you get negative balance protection as well as segregated funds in a top-tier bank. To ensure your safety when trading, there’s a leverage cap (i. g. 1:20 in Singapore).

Furthermore, the broker has to possess a high minimum operating capital and some even offer a compensation scheme. BN93 is not regulated and therefore, there are no benefits to trading with this fraudulent provider, only risks.

Warnings Issued by Financial Regulators

Despite claiming to be from Singapore, BN93 seems to target European traders. Hence, we found four warnings issued against this con artist. Namely, the Dutch AFM, Belgium FSMA, Spanish CNMV and Norwegian FI put BN93 on their blacklists. Serves the scammer right!

BN93 Software – How Safe Is The Platform?

Frankly, with all that’s been revealed about BN93, we wouldn’t trust this fraudster at all. Especially not when it comes to the trading platform. Since BN93 doesn’t mention specific details about it, we believe that it’s nothing more than a WebTrader.

There’s no demo account. So, to access the platform, you’ll need some sort of code provided by the scammer. Sadly, you won’t get it until BN93 gets its deposit first, which it plans to embezzle and disappear. Most scams play out like that.

Mobile Trading

It’s there to make it seem like BN93 covered all devices. WebTrader is browser-based. Therefore, it can be accessed from any device with Internet access.

However, both the desktop and mobile versions of this platform are ineffective. Add to that the fact that BN93 is unregulated and you’re in for a disaster.       

Trader’s Reviews of BN93

At the time of this writing, we found just two comments, i. e. complaints about BN93. One on TrustedReviews and one on Reddit. Both scream scam! Read for yourself.

This BN93.com is a SCAM. Once you put your money on that BN platform you can’t withdraw !!! YOU WILL LOSE your money !!!!! It’s not a real trading platform.

– TrustedReviews Customer

BN93 Range Investment Opportunities – Trading Instruments

BN93 made it clear it only offers crypto trading. Allegedly, clients can trade multiple cryptocurrencies against US Tether:

• BTC/USDT;
• ETH/USDT;
• XPR/USDT;
• LTC/USDT; etc.

As you know, the crypto market is extremely volatile, so the legal leverage level is 1:5. BN93 didn’t say what it offers in terms of leverage. Spreads, commissions & swaps also weren’t disclosed.

BN93 Fraud Risk Zones – Service Countries

From what we gathered, BN93 is interested in defrauding European traders. We compiled a list of countries where the scammer was active:

• The US;
• The UK;
• Belgium;
• Portugal.

On similarweb.com, we saw that Bulgarian users also visited the website. Fortunately, there were fewer than 5,000 visits in total. Also, it’s good that the Belgium FSMA has reacted to this threat.

Also, remember the names of the OnspotBNK, NBI Markets and Cloxyields trading scams and avoid them at all costs! Moreover, always check the background of online trading companies before investing!

Access to a Free Demo Account

As mentioned, BN93 doesn’t offer a free demo account, which is really shady and alarming. Every legitimate broker has to include it.

Nevertheless, we found that the financial swindler gives out a code to potential victims in order to mark them and see how much money it can squeeze out of them.

BN93 Terms and Conditions

This whole section is pretty vague. All the necessary legal info is missing and the rest is just irrelevant. We couldn’t find the payment methods that BN93 accepts or the minimum deposit that traders are required to pay.

Hence, withdrawal processing time and fees are also a mystery. To reiterate, the scammer and the unsuspecting victim make contact,l agree on the price and payment method, the victim pays and the scammer takes the money and vanishes. That’s the most likely scenario.

Scammed by BN93 Broker? – Allow Us to Hear Your Story

If you’ve been scammed by BN93, that’s horrible. We understand your frustration and want to help you get your money back but also bust the scammer. For us to do that, you need to share your story with us. Book a consultation and tell us more about how you made the deposit.

What Is a Chargeback Procedure?

We can assist you in getting a chargeback. Depending on the method you used to make a deposit, there are various ways of requesting a refund. 

For credit/debit cards, there’s a chargeback. Wire transfers require a recall while crypto transactions are more complex and demand assistance from experts.

If you need help with chargebacks, book a free consultation with our chargeback specialists who will help you to regain your money.

What Is BN93?

It’s a fraudulent and anonymous broker that intends to scam poor traders from the US, UK, Belgium and Portugal.

Is BN93 a Scam Broker?

Yes. The broker has been blacklisted by the Belgium FSMA, Spanish CNMV, Dutch AFM and Norwegian FI.

Is BN93 Available in the United States or the UK?

Yes. BN93 is available in both countries. In fact, it searches for victims in the UK and the US.

Does BN93 Offer a Demo Account?

No. There’s no free demo account available. However, there is a shady invitational code option.

This company presents itself as the world’s number one in the trading business. With their offshore registration traders can’t expect much. But at first glance, it might look legit. However, after deeper analysis, you can find many discrepancies about this company.

Continue reading our FxAlta review to find out more.

Is FxAlta a Regulated and Licensed Broker?

In fact, FxAlta trading company claims to have a license issued by MISA. This is considered a lower-tier offshore regulator and not reliable as Tier 1 regulators. However, checking their database didn’t bring any results about this broker. We lost all hope about this broker once we researched Tier 1 regulators’ databases. Some of those are FCA, BaFin and ASIC.

After the license research, you can already see why not invest with this broker. Funds are not protected in any way. But imagine if the broker advertises some security measures. That would still be questionable. On the contrary, you can read our City Index or Capitalix review to see what trusted companies are all about.

Warning Issued by Financial Authorities

Another key point of this company is a warning from the regulator. On the radar were Italian traders. Therefore, Italian CONSOB investigated this broker and issued a public warning.

In April 2023, they discovered another entity Moritz Ltd as one of the owners. Take a look.

FxAlta Platforms – A Software Comparison

After all, regulated brokers mostly have trusted software. Such as Meta Trader or cTrader. On the contrary, this broker has a suspicious proprietary web trader. What makes it even more suspicious is mobile app navigation. Once you want to check the official iOS or Android store, you are redirected elsewhere.

Moreover, this software only gives you basic trading tools, calendars and news. But algorithmic trading or social trading is not on the radar.

         What Financial Instruments Does The Platform Include?

Trading instruments provided by this broker do not cover anything extraordinary. Nothing that you can’t find with a regulated broker. Their instruments are divided into 6 categories. Important to realize is that they miss highly popular crypto.

Anyway, you can trade with:

• Currency pairs (Forex)           GBP/AUD, USD/HKD, EUR/SGD
• Commodities                        crude oil, natural gas, palladium
• Indices                                  S&P 500, DAX 30, FTSE 100
• Shares                                  General Motors, Aurora Cannabis, Goldman Sachs
• Bonds                                  QQQ, Russell 2000
• ETPs

Generally speaking, solid instruments range but without security. This broker is not regulated and data provided on their software might be manipulated. Instead, you can find a Tier 1 licensed broker and avoid headaches.

FxAlta Countries Of Service

FxAlta reviews discover all the countries where they operate. But those traders mainly come from:

• Italy
• Brazil
• France
• Argentina
• Canada

In fact, all these countries have strict regulations. Therefore, it’s just a matter of time before everyone follows CONSOB’s steps.

Account Options Offered by FxAlta

Another shady fact about the FxAlta broker is a welcome bonus. Through their account types, you can get additional bonus funds. Usually, those come with malicious clauses.

FxAlta trading company offer consists of the following account types:

• Standard
• Premium
• Platinum
• VIP

However, none of these have transparent trading conditions. Not to mention commissions or fees.

         Can a Trader Use a Demo Account?

FxAlta broker doesn’t have a demo account available. So, traders don’t have any risk-free option for testing.

Considering that some Tier 1 licensed brokers have it, that’s enough reason to avoid this one. Especially because that is a sign of something shady behind the scenes.

Terms of Service for FxAlta

FxAlta broker has the most insane bonus policy. For every $1 bonus, a trader must execute a trading volume of $10.000. This means on $250 bonus that’s $2.500.000. Before that, you can’t make any withdrawals. But with such a policy it’s questionable that even after that you would get the money.  If it’s so easy to reach that amount with a $1.000 deposit everyone would be rich.

As for the funding methods you have:

• Visa/Master card
• Wire transfer
• WebMoney
• Neteller
• Skrill
• QIWI
• PaySafe
• Yandex
• AstroPay

Unfortunately, the broker doesn’t mention in the withdrawal policy any fees. Important to mention is that withdrawal processing time is up to 10 days. On top of that, the company can decline or delay withdrawal if not satisfied with the documentation provided. For a broker claiming to be regulated, this is quite suspicious.

         Leverage, Spreads and Fees

A leverage of 1:200 violates most of the regulations. Especially European ones. Because of extreme risk, EU regulators limited leverage to 1:30. Without some fund protection measures it can be very dangerous.

On top of all, this broker doesn’t reveal any information about spreads. That’s practically how trusted brokers make their profits. Besides commissions and fees. Thus, the FxAlta broker didn’t bother much about it. Instead, their primary goal seems to get as higher deposits as possible.

What Should I Do If I Have FxAlta Problem?

Primarily, you should share your story with us. Helping other traders know about this company can’t hurt. But if you have a withdrawal issue the best option is to start a chargeback. As soon as possible. Because if you wait too long you could miss the opportunity to get your money back.

For any questions, our specialized fund recovery team is available. In fact, you can book your first consultation for free. Don’t let anyone get away with your money. Get in touch now!

What Is FxAlta?

FXAlta is a trading company operating offshore without any Tier 1 regulation.

Is FxAlta a Regulated Broker?

No. They claim to have CySEC and LBSA connections. But that’s false.

Is FxAlta Available in the United States or the UK?

No. Traders from the US or the UK can’t trade with this trading company.

Does FxAlta Offer a Demo Account?

No. Only a live account is available, but the minimum deposit is unknown. 

If you were looking for a brokerage with the highest number of security warnings and scam accusations, BitcoinWelt could definitely compete. With 5 warnings that we found, this broker lists a red flag after a red flag. Read our BitcoinWelt review and check what’s so wrong with the company.

BitcoinWelt Regulations and Security

BitcoinWelt is an online trading brokerage without financial regulations. The shady brand hasn’t listed any owner or headquarters, so we can only assume it operates from an offshore country. Therefore, we’ve checked a couple of offshore registers, such as GLOFSA, FSA, FSC, and more, but found nothing. We’ve also searched through the FCA, BaFin, ASIC and got no results. Based on this, we can conclude BitcoinWelt is a scam brokerage you should avoid at all costs.

BitcoinWelt Warnings From Financial Regulators

Since the broker’s website is in German and English, we could conclude these areas are the most targeted. So no wonder the first to publish an official warning against the BitcoinWelt scam was the Austrian FMA.

This warning was followed by the same one coming from Swiss FINMA.

Belgium FSMA noticed BitcoinWelt as well and warned its citizens not to accept any offers from the brokerage.

Danish DFSA stated the same, inviting anyone who has been a victim of the BitcoinWelt scam to report it immediately.

In the end, the Italian CONSOB gave us the same – BitcoinWelt is a scam, do not fall for it.

Fund Withdrawal Issues

With everything said above, nobody was surprised to learn there are severe withdrawal issues with the brokerage. Apparently, BitcoinWelt enjoys taking funds from clients and has no problem providing excellent support while waiting for the money. However, once a client submits a withdrawal request, all support stops and their account is immediately blocked. As there’s no official regulatory jurisdiction and no official owner, clients have to look for alternative money-back solutions as they cannot even sue the company.

If you have been scammed by BitcoinWelt, let us know immediately.

You should avoid BitcoinWe forex broker and similar brokers such as GrandTrade, GXCM and RichFund.

Traders Opinion

As regulators and anyone else who read this BitcoinWelt reviews, traders do not have an excellent opinion about the broker either. Most of them are disappointed by the poor support system, bad trading platform (only a web trader), and the broker’s general behavior. While clients are willing to deposit more, everything is tremendous. Yet, the situation changes when they’ve had enough, and they would like virtual profit to become money in their banks.

How Does Online Trading Scam Work?

Online trading scams are part of our everyday life, unfortunately. With too many scam companies and too little time for regulators to check each and every new market player, there’s a vast number of frauds. Almost all of them start with a fake trading ad published on social media. After you sign up for such an ad and provide your personal information, you will be persuaded to invest money. However, we would strongly advise you to check the brokerage before doing so. For example, if you checked BitcoinWelt broker, you would immediately notice a lack of regulation and license.

For further help in the choice of a brokerage, talk to us via chat.

Scammed by BitcoinWelt?

So, If you were scammed by BitcoinWelt or any similar bogus brokerage, let us know immediately. Our support team will assist you in filing a dispute and requesting a chargeback.

But what is a chargeback?

It’s a way for your bank to reverse the funds in case you have been scammed. For further details, chat with us and book a free consultation! Let’s get your money back before it’s too late!

What is BitcoinWelt?

BitcoinWelt is an online trading brokerage without financial regulation.

Is BitcoinWelt a scam?

There are 5 official warnings against the BitcoinWelt scam all over Europe.

Is BitcoinWelt regulated?

Broker is not regulated. It’s blacklisted by 5 different regulatory bodies and marked as a scam.

Engaging in unscrupulous projects seems to be a primary purpose of every other offshore firm of this type. Cixx LLC is the owning company of 4x.fm. A group of anonymous entrepreneurs or a one-man-company? No one knows. What we do know is that this unregulated entity offers their products and services worldwide. That’s why we bring this 4x.fm review to our audience before anyone decides to invest here.

Is 4x.fm a Regulated and Licensed Broker?

Legal permits and licenses appear to be the least of 4x.fm concerns. The company doesn’t exist in any premium register we’ve checked, including FCA, NFA, CySEC, FINMA, BaFin and CONSOB. This means that the broker operates without a Tier 1 license. Immediate red flag, just like another entity with fraudulent ethics – AppleTrade. 

Because the site does list their owner, Cixx LLC, as a registered company with the local regulator – MISA, we had to check that also. As the results show, this is a lie. MISA has their own online database of the firms they’ve licensed and Cixx LLC isn’t among them. Still, even if the broker was regulated here, they would still need a stronger license to operate in severely regulated zones. Why is it so, you might wonder. 

Firstly, all Tier 1 brokerages have to possess an amount of operational capital. This is not a negligible amount at all. In the US, brokers invest at least $20 000 000 in their business. Following that, the security measures have to be installed. The most important one of them – segregated bank accounts for safe-keeping of clients’ funds. 

The leverage restriction applies to all heavily regulated zones, it just slightly differs. The EU, UK and AU have set it to 1:30, while the US and CA have it at 1:50. With 4x.fm you can unlock a ridiculous 1:200 if you decide to pay a crazy amount of money. 

Pair these questionable trading conditions with a dangerous lack of transparency and vague security measures and you get a scam to avoid – 4x.fm.    

The Opinions of Traders About 4x fm

At the time of writing this review, we only found 11 trader opinions on TrustPilot. Disturbingly enough, they were all 100% positive. Such an occurrence isn’t common. Plus, considering the number of total reviews is so low, we can’t take them at face value. 

It often happens that a broker pays for positive ratings on review websites to falsely boost their reputation. Most of these are very short and not informative. Beware of this. 

4x.fm Platforms – A Software Comparison

The much glorified and heavily advertised as reliable and fast, 4x.fm platform doesn’t differ from web traders that many other frauds provide. One of them is definitely Nux Trade. 

The fairly comprehensive distribution does lack a number of advanced functions. Including 1-click trading, expert advisors and sophisticated analytical tools. Additional downside to the whole thing is the inability to test it until you make a deposit. 

What Financial Instruments Does The Platform Include?

If you’re an advanced trader with refined taste in financial products, you won’t be impressed with the offer at 4x.fm. We say this mostly because the webtrader only allows access to several most common instrument classes:

• Forex (EUR/USD, USD/CAD, EUR/CHF, NZD/AUD)
• Commodities (Aluminium, Coffee, Cocoa, Natural Gas)
• Crypto (BTC, DOT, EOS, TRX)
• Indices (AEX25, EUR50, IT40, IBEX35)   
• Shares (Adobe, Bayer, Delta, Ebay)                

4x.fm Countries Of Service

4x.fm might operate from an offshore zone and without a license. Even so, this didn’t stop them from seeking victims from various countries. It seems like no one is safe. Including the traders from the heavily regulated and supervised areas. Take a look at the countries most targeted by 4x.fm:

•  Ukraine
• Australia
• United Kingdom
• United States
• Moldova

Account Options Offered by 4x.fm

We can hardly characterize the 4x.fm offer of accounts as exclusive and rich, as the broker does. So far, it resembles the offers we see at other fraudulent websites. Especially price wise. The features included seem unrealistic, but that’s their purpose anyway. Making you invest more money while making-up excuses to justify such insane prices. 

The sorts of 4x.fm packages are as follows:

• Basic – $250
• Silver – $5 000
• Gold – $20 000
• Platinum – $50 000
• Black – Invitation Only

Can a Trader Use a Demo Account?

Being a shameless liar about every aspect of their business, 4x.fm isn’t honest about the existence of Demo accounts, either. Although the site will guarantee you a possibility of free trading, you won’t really get that. 

After registering an account at 4x.fm, we were urged to deposit. The web trader wouldn’t even respond to our commands otherwise. The user panel does the same and keeps sending you reminders to verify and invest. 

Terms of Service for 4x.fm 

The Terms of Service is a legal doc that every client accepts by becoming a customer. 4x.fm has one too, and it is dreadful, might we add. Again, we have to stress the importance of reading these texts meticulously before agreeing to them. 

For example, a line in the 4x.fm T&C doc says the customer accepts to pay any and all outstanding fees, charges, commissions, taxes and whatever else the company may ask them to. This makes way for the firm to treat you as their financial hostage for as long as they want, so beware.

Leverage, Spreads and Fees

We’ve already made it clear how 4x.fm offers a dangerously high leverage of up to 1:200. Trading under such exposure creates an outrageous risk of you losing your entire investment. Additionally, 4x.fm doesn’t reveal the true trading costs. They conveniently only promise tight spreads. These are usually false and serve to attract and deceive customers. 

What Should I Do If I Have a 4x.fm Problem?

If you’re in panic to recover your funds quickly, we understand you. Nonetheless, having a clear mind as much as possible in these cases is vital. And needing help isn’t shameful. Just contact us and we will provide you with a free consultation. This will give you the necessary starting point to regain what is rightfully yours. So please, reach out to us at any time, and we will aid you in chargeback and other crucial steps.

What Is 4x.fm?

4x.fm is a brokerage site operating from an offshore zone and without any kind of authorization. 

Is 4x.fm a Regulated Broker?

No, this broker doesn’t own any license or permit to offer their financial services and products to any country. 

Is 4x.fm Available in the United States or UK?

Apparently, from the reports and complaints issued, it appears that this broker does offer their services to the traders of these two countries as well.

Does 4x.fm Offer a Demo Account?

Although 4x.fm does promise the possibility of a Demo Account, they do not make this option actually available and you have to deposit real cash to do anything on your account. 

Polonix.ch wishes you to believe their brokerage services are the future of Forex trading. However, it doesn’t take long to realize none of their claims about secure transfers, and ultra fast order execution are true.

Especially after realizing that they’ve been blacklisted by the leading German regulator for offering financial services unlicensed. 

Our Polonix.ch review presents an in-depth analysis to clarify all the discrepancies related to this conduct and warn potential victims of the financial risks with this broker dealer.

BaFin Blacklists Polonix Domains

A suspicious company Polonix claims to operate out of Luxembourg and that it’s fully licensed. Of course, no evidence of that shows on their cheaply organized website. 

The domain suggests Swiss-located headquarters and the Swiss court jurisdiction, but the firm doesn’t appear in the FINMA register of regulated entities. Such opposing claims do little to clarify this dubious situation. 

What proves our doubts about this unscrupulous firm is the BaFin warning against both of their domains – polonix.ch and polonix.ai.

This allegedly prestigious broker is dishonest and the funds deposited here are at risk due to missing regulatory standards of safety, AML rules and risk-controlling measures.

Concealed Domain Information

The polonix.ch domain is completely anonymous, and all owner information on Whois is restricted. The same con operates another domain, polonix.ai which is a complete clone of the website.

It was launched in 2023, and is oriented towards these regions:

• Germany
• Switzerland

This fraud has a public social network profile Instagram, and abuses it to reach out to new clients. It wouldn’t be as widespread without the involvement of boiler room agents. Review seller networks play their role as well.

Reputation Boosted By Fake Reviews

Many fake reviews about Polonix are circulating on the web. You can clearly see the involvement of review seller networks similar to the GoldenrodFX swindle if you visit Polonix reviews.io or TrustPilot pages.

If you have any assets deposited with Polonix, consider seeking reimbursement by legal means. Our chargeback experts are on hand to help you out of trouble, and you can reach us through the live chat.

Seemingly Attractive Trading Costs

At the Polonix.ch website, you’re promised to trade under increased leverage of 1:100, which has the chance to bring you huge profit. However, the broker fails to mention that all firms operating under the MiFID directive have to restrict the leverage to a maximum of 1:30. 

Other trading costs and commissions aren’t even remotely discussed. Especially crucially important parameters such as spreads and fees. Polonix.ch actually claims to charge no tax on account funding, but that may as well be another lie in the sea of them. 

Trading Features Hidden Behind Defunct Pages

Many parts of Polonix websites are not functional. This includes account setup, and trading platforms. This may not be a programming error, but a way to make Polonix clients rely on boiler room agents even for minor tasks.

While it is possible to create a Polonix login, clients will not be issued a working password. The email service that should allow you to confirm your account, and provide a password is glitched as well.

No Trace Of Trading Software

Polonix advertises the MT4 trading program on their websites, but it’s nowhere to be found. Indeed, in the client dashboard, we could see a dedicated MT4 account and password, but no way to use it.

If you attempt to access the trading application through the client dashboard, you will be redirected to a blank page. It is questionable whether any trading application exists with this broker, as the alleged mobile trading is not available either.

Unconfirmed Instrument Availability

It’s difficult to imagine trading on any of these instrument groups is possible when the Polonix.ch platform is bogus software. The same goes for the Coin2FX scheme.

The broker still claims over 800 financial products from the following categories are available: 

• Forex (EUR/USD, EUR/JPY, CAD/AUD)
• Cryptocurrencies (BTC, BNB, NEO, ZEC)
• Shares (Disney, Coca-Cola, Tesco, Vodafone)
• Commodities (energies, oil, sugar, coffee)
• Indices (ESP35, HK50, AUS200, FTSE)
• Precious Metals (Silver, Gold)

Trading Account Conundrum

This wannabe broker doesn’t even try to advertise different account types. Polonix claims that their minimum deposit is $250, but there is nothing to corroborate this.

While creating a Polonix login is possible, you can’t manage sub-accounts. The broker never mentions any demo.

The main problem is the email server, which doesn’t work. Whether it is simply broken, or if this is an intended con strategy is unclear.

Improbable Withdrawals

The transparency is a major issue at Polonix.ch and it’s the most evident when it comes to account funding. 

Although the broker claims payouts are processed via several methods like credit cards and “alternative” methods, the particularities remain unsaid. Transactions are supposed to be completely free, yet none of these claims are verifiable. 

If you happen to only be able to transfer funds via crypto channels, bear in mind that this is the method enforced by every other financial criminal in order to remain anonymous.  

Poor Customer Service

Polonix makes you rely on their agents every step of the way. If you omit these solicitors, the only way to contact support is through email, or an alleged call back request.

These methods always take time, even if the client service is on point. Polonix agents are not there to help you, but to push you into more trouble.

Protect Your Funds!

It’s understandable if the deceptive Polonix.ch methods have led you into the investment trap – after all, it’s every boiler room agent’s specialty. What’s important is to take the right steps towards recovering your lost investment. 

By contacting our recovery specialists, you can ensure the process of restoring your capital will be quick and swift. For quickest results, use our Online chat feature to book your free consultation. 

FAQ Section

What Is Polonix.ch?

Polonix.ch is one of the twin platforms intended to defraud unwary traders and investors. The other is polonix.ai .

Is Polonix.ch A Scam Or Legit?

Polonix is an illicit unregulated brokerage. German BaFIN has blacklisted this fake broker, pending criminal investigation.

How To Get My Money From Polonix.ch?

Since Polonix is not likely to return your assets, consider taking legal action. Our chargeback experts are on hand 24/7 via the live chat, and our first consultation is absolutely free.

SimpleFX Ltd from St. Vincent and Grenadines (SVG) is the official owner of SimpleFX broker. They are on the forex market since 2014 and, based on company statements, they are an award-winning brokerage. From experience, we know that many offshore brokers end up as scam brokers.

With that in mind, we highly doubt that SimpleFX could get any awards for their service. Especially with the facts that we will reveal further in this SimpleFX review. Keep reading.

In addition to the above, we strongly advise you not to invest in EagleFx, Kot4x and Status Markets fraudulent brokers.

Is SimpleFX a Scam Forex Broker?

FSASVG made a smart move when they realized that this country is a hub for scammers. They decided not to provide licenses for forex and CFD trading. Therefore, companies should opt for licenses outside of this country. Precisely, in countries where they operate.

That’s why we are checking the most trusted regulators like FCA, BaFin and ASIC. These belong to the Tier 1 group of regulators and have the strictest rules. As a result of that research, we couldn’t find any records of SimpleFX trading company.

The first sign of a scam is already there. Let’s find out more.

Besides the lack of regulations, other signs confirm that SimpleFX is offshore scam. Many negative SimpleFX reviews, high leverage and non-transparent trading conditions. 

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

A license is not just a document or a number that gives you some security. Those are set rules that companies should comply with to protect their clients. 

EU regulators require brokers to have a certain amount of initial capital deposited, separated bank accounts for clients’ funds and compensation funds. Moreover, trading conditions are definitely controlled and chances to be scammed are minimized.

SimpleFX Software – Platform Tools

Equally important as security is a trusted trading platform. Besides its own SimpleFX web trader, clients have MetaTrader 4 available. The main difference is that web trader is not trusted and lacks some important features, such as social trading and EAs, advanced indicators and more.

 Important to note that once you try to download MetaTrader 4 on your device, it automatically downloads the SimpleFX program. It’s quite suspicious and we wouldn’t risk our privacy.

SimpleFX Mobile Apps

Unfortunately, the SimpleFX app is available for download only to iOS devices. Therefore, traders with Android phones have a huge disadvantage. 

Even though it’s positive to hear that the mobile version is available, we are wondering how reliable it is. Especially when it doesn’t provide all features like MetaTrader 4, which is an industry-standard app.

SimpleFX’s Trading Assets and Instruments

Even though they have a limited amount of assets, they cover quite a solid range. Those are divided into 5 major groups:

• Forex                     USD/JPY, AUD/NZD, EUR/NOK
• Commodities             natural gas, oil, gold
• Indices                      FTSE100, S&P500, DAX30                   
• Shares                      German, French and UK markets + more
• Cryptocurrencies       BTC, ETH, XRP

Besides solid assets available, trading conditions of those are still speculative. Traders would jump on an offer where the spread is only 0.9 pips, but commissions are not revealed anywhere. Therefore, trading can cost you much more than expected.

SimpleFX Broker’s Active Locations

As you can see in many other SimpleFX reviews, they are mainly scamming traders from:

• United States
• Japan
• United Kingdom
• Turkey
• South Africa

This is important to note because many of these countries have their regulations. Some of them are the strictest in the world. Yet, Simple FX broker doesn’t bother complying with those rules. We hope that regulators will expose this broker soon and prevent these swindlers from doing what they are doing.

SimpleFX List of Account Types

Trading conditions are at any stage the same. SimpleFX broker doesn’t offer any specific classification for account types. Whether you deposit $1 or $100.000, you get the same shady conditions. After all, traders won’t be happy to invest anything more if they don’t get any benefits from that.

The main concern about this broker is funding methods. They offer mainly cryptocurrencies and e-payments as alternatives. All of those are hardly traceable.

Can a Trader Use a Demo Account?

On the positive side, SimpleFX offers a demo account. The only limitation is that it’s through their proprietary app. 

On the negative side, these apps are often manipulated by brokers and you can get a false picture of trading overall.

About SimpleFX Terms and Conditions

Crucial conditions you should be aware of are bonuses. There are numerous ways how brokers will provide you with bonus funds. But you should know that all those come with certain clauses. 

In this case, rollover on investments must reach a certain point for you to get a withdrawal. If the broker is so sure about making profits for you, there is no reason to give you a bonus. Whether you get it as a welcome bonus or a bonus from an affiliate program, don’t accept it. Otherwise, you won’t be able to withdraw any of the funds for a long time. Maybe never.

Leverage, Spreads and Fees

Leverage of up to 1:500 makes a huge difference to ESMA allowing a maximum of 1:30. Even though the broker offers competitive spreads from 0.9 pips, they can increase over time. 

Besides that, commissions and fees are unknown. So, you don’t know what to expect. But all signs lead to the conclusion to expect to be scammed.

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

If you got scammed by a SimpleFX broker, share your story with us. That way, other traders will know why not to start with this broker. 

Moreover, our fund recovery team can make a strategy for you on how to get funds back. Don’t waste time and get in touch today!

What Is the Chargeback Procedure?

Chargeback is a reversal process for card purchases. Since this broker allows only crypto transfers we’ll go another way around. Our fund recovery team has access to CipherTrace software that can find your funds. After that, you can request a proper chargeback.

Don’t let them escape with this. Contact us now!

What Is SimpleFX?

It’s an offshore broker operating without a license worldwide in most secured countries.

Is SimpleFX a Scam Broker?

Yes. Many signs that we revealed in this SimpleFX review are pointing to that conclusion. Especially lack of regulations.

Is SimpleFX Available in the United States or the UK?

SimpleFX offers its services to both mentioned countries. But for any of those they don’t have a valid license.

Does SimpleFX Offer a Demo Account?

Yes. They offer access to a demo version but only through their proprietary app.