In a place where lies meet greed, investors aren’t able to trade seamlessly and achieve any of their investment goals. Whatever these miscreants offer is something you should definitely refuse to risk your money for.

After all, none of the advertised services are provided, and it’s only a matter of time before your funds disappear. Read what FCA has discovered about this unscrupulous company in our Excellence Markets review.

Broker Doesn’t Meet Standards

License and registration is a must have for any brokerage agency that operates in the UK. FCA has imposed strict regulatory conditions on all online trading firms. Some of these include segregated bank accounts, negative balance insurance, leverage cap of 1:30 and compensation plans.

As you may have already guessed, not only is the Excellence Markets broker unlicensed but they’ve also been blacklisted by the FCA. Legal documents reveal the actual location of the firm’s headquarters – the Marshall Islands. 

GLOFSA, the regulator overseeing securities market participants in that country, doesn’t have information on the brand. This means that the business is actually an offshore scheme that operates solely to steal investments.

Investment Options: Pure Farce

Anything you see on this website that is related to promoting extraordinary investment opportunities is a charade. The carefully orchestrated financial trap is meant to entice traders who wish to succeed overnight. 

Unfortunately, many of the retail investors have already been duped, and the majority of them come from:

• United Kingdom
• Netherlands
• Belgium

Active only since December 2023, this brand certainly doesn’t enjoy the reputation of a reliable service provider. Another proof of that is the lack of Excellence Markets reviews. Therefore, it is best to avoid any scheme that promotes quick cash and contact us for legal advice concerning chargebacks.

Excellence Markets Costs: Proof of Fraudulence

Numerous Excellence Markets trading costs and special charges mentioned in the legal papers are another piece of evidence of this firm being a total sham. You see, trading leverage isn’t capped at 1:30, as aforementioned regulations demand. Actual leverage limit on this platform is 1:400. 

Different trading terms, like spreads, are also suspicious, as it’s stated that they start at 0.0 pips, which is unrealistic. Other taxes and commissions sound disturbing, to say the least. Dormant accounts are charged $300 yearly, and there’s a handful of other hinted costs that aren’t clarified.

Expensive Yet Mediocre

Risking losing everything in order to make a profit on this shady platform is simply not worth it. Just signing up for an Excellence Markets login requires a price that is too high to pay. 

Even if you have money to waste on investment deals that won’t do you any good, should you be throwing it away on fraudulent trading portals? Check out the offer on this site in the remainder of our review.

Typical Web Trading Scheme

Faulty and basic, Excellence Markets WebTrader doesn’t even begin to compare to excellent software solutions like MetaTrader platforms. There’s a reason why these technological masterpieces are considered premier trading portals. They provide a number of indicators, timeframes, EAs, and other tools that would make your trade far more precise, accurate, and lucrative. None of that is available on the said web terminal.

Don’t Invest in These Assets

The selection of tradable instruments found on this server is just a bunch of random asset groups that are displayed by default. There’s no proof these financial products are really made available by the broker:

• Forex – EUR/USD, EUR/GBP, EUR/CAD
• Stocks – Mercedes Benz, BMW, Caterpillar
• Commodities – Coffee, Sugar, Corn
• Indices – NASDAQ, DAX, DOW
• Crypto – BTC, BNB, BCH, ETH, TRX

Packages Offer Nothing Substantial

Unreasonable deposit requirements are a characteristic of untrustworthy online trading portals. Buying a basic Excellence Markets account doesn’t open many possibilities in terms of enhanced service and advanced options. 

However, there are more pricey options that feature some tools, courses, and webinars for serious investors. That, too, unfortunately, remains just a promise on paper, as the company is a blacklisted entity.

These are the minimum deposit requirements for each bundle:

• Basic – $250
• Silver – $10.000
• Gold – $25.000
• Platinum – $100.000
• VIP

Payment Terms Are Breaching Laws

Regulatory standards concerning anti-money laundering actions and transparency are quite strict in the UK. Another sign that a company doesn’t follow any legislation is that it offers one deposit channel (credit cards) while supporting an entirely different method for payouts (crypto).

Disclosing sensitive information related to your credit cards may lead to identity theft and more unscrupulous operations. Therefore, do not share these details with the Excellence Markets scam.

Moreover, legal documentation doesn’t clarify how payouts exactly work. You could be asked to pay upfront fees or meet trading volume requirements before you’re allowed a withdrawal. Additional reasons may come up as excuses for rejecting your withdrawal requests, so beware.

Support is Out of Reach

Nothing is excellent or astonishing about Excellence Markets’ customer service. In fact, it looks as if they’re only eager to receive feedback, not actually serve the client. 

We say this because you only have the option to submit a ticket via an online form or send an email. Nothing guarantees a reply unless you’re interested in giving them your hard-earned cash.

Stay Away From Flagged Sites

Succeeding at Forex means first choosing the right brokerage dealer to partner up with. If you decide to invest with a blacklisted domain, you’re in for a total loss. 

If you have, however, already been tricked into depositing on this portal, contact us immediately. Our recovery agents will help you build your case and get your funds back from these charlatans.

FAQ Section

What is Excellence Markets?

The blacklisted website belongs to an anonymous business that claims to operate from the UK.

Is Excellence Markets Legit?

No, the firm is not known to authorities other than for its fraudulent actions.

Who Owns Excellence Markets?

The parent company that stands behind the blacklisted domain is not named. We recommend you contact us immediately in case they’ve scammed you.

The first thing that riled us up was the website’s creation date – January 2024! Is QWEBank.com legit, or is it another sham broker like Aksel Invest? Seems like those behind the platform typed three letters in a row on the keyboard and got their name.

In our QWEBank.com review, we expose this unscrupulous web platform that offers illicit services. Read our analysis to learn the nasty truth about this provider.  

Legal Info: Is GWEBank.com Regulated?

The QWEBank.com broker is allegedly a UAE-based trading platform operated by a bank. We looked up the entity but couldn’t find it anywhere.  There are no other legitimate legal documents to shed light on the background of this suspicious business, nor does it have a license or a registered address.

Upon further investigation, we found that the Central Bank of Russia (CBR) recently warned about this fraudulent entity, citing “signs of an illegal professional participant in the securities market.” QWEBank.com is undoubtedly an anonymous website, not a legitimate trading firm. Sending them money would be a serious mistake.

Instead, we recommend choosing firms regulated by recognized financial authorities like the FCA (UK), CFTC (US), ASIC (Australia), IIROC (Canada), and MAS (Singapore). These companies follow strict regulations, ensuring they provide clients with negative balance protection, segregate funds in top-tier banks, and sometimes offer compensation schemes.

Who Are QWEBank.com’s Targets?

WHOIS says the qwebank.com website domain was created on January 10, 2024, so it’s not a long-standing business. Since then, the cyber thieves behind the platform have mainly been targeting traders and investors from the following countries: 

• Germany
• Belgium

These EU countries have stringent financial market regulations, enforced by strict laws designed to prevent virtual scams and preserve financial stability. One key regulation prohibits unauthorized entities, such as QWEBank.com or HiBT, from operating within their jurisdictions. Following CBR’s warning, these deceptive actors are effectively barred from operating anywhere.

Trader Reviews – Sharing Experiences

We found several QWEBank.com reviews on popular forums. For instance, a Reddit thread exposes the scheme in detail.

My conclusion so far: It’s obvious that they manipulate the WebTrader,” the Redditor wrote. “You’ll always be losing. I saw it first hand when my friend showed it to me after losing $220K when trading using their app.”

When searching for a reliable brokerage firm, it’s crucial to consider the experiences of other traders and investors. Their honest reviews and feedback can provide valuable insights, helping you steer clear of digital risks. Before committing to a new investment, take the time to read genuine user testimonials and check regulatory warning lists.

Which Trading Platform Is Available?

The QWEBank.com trading platform provides little information about its features. With no app or download link available, we were unable to assess it directly. It appears to be a web-based trading terminal, but the QWEBank.com login page restricted access to certain areas.

Web platforms typically have basic interfaces, limited tools, and fewer advanced trading features. They can also be vulnerable to manipulation, especially when used by unlicensed brokers. Therefore, we recommend choosing a regulated provider that supports established third-party software like MetaTrader 4, MetaTrader 5, or cTrader. These platforms offer advanced features such as automated and algorithmic trading, sophisticated charting, multiple timeframes, live market reports, and expert advisors.

QWEBank.com Account Types

Trading Info – Leverage, Spreads, Commissions

QWEBank.com offers a maximum leverage of 1:500, which is extremely high and risky. Such leverage can lead to significant losses, so regions like Europe and Australia cap leverage for retail clients at 1:30 and North America at 1:50. Experienced traders are the only ones who should consider high leverage.

The spreads displayed on the website seem plausible, but the commissions were not disclosed. Knowing how scammers roll, there may be hidden fees. While the minimum deposit for a classic QWEBank.com account is 250 USD, which is reasonable, we strongly advise against trading with this untrustworthy provider.

Can Traders Use a Free Demo Account?

Diving straight into trading without a safety net can be risky. A wiser approach is first to test the waters using virtual funds. That way, you can detect potential cyber threats before committing any real money.

Honest brokers acknowledge this and typically offer demo accounts for risk-free practice. The absence of such a feature on QWEBank.com is a glaring red flag, particularly for those new to trading.

Deposit and Withdrawal Process

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

• Credit/debit cards
• Wire transfers
• Skrill
• Neteller

If you cannot get a QWEBank.com withdrawal, it’s time to explore other ways to recover your funds. Allow us to explain how to go about it.

If you funded your account using a MasterCard or Visa credit/debit card, you can request a chargeback through your bank, provided the transaction occurred within the last 120 days. For wire transfers, it may be possible to recall the transaction through your bank, but only if the funds haven’t yet reached the scammer’s account.

To reverse e-wallet payments, you’ll need to contact the issuer directly to request a chargeback. If you’ve lost cryptocurrency on the platform, recovery becomes more challenging. Retrieving crypto payments requires advanced tools like CipherTrace and specialized expertise. Fortunately, our experienced team is here to guide you through this complex process.

Key Facts To Consider About QWEBank.com

QWEBank.com is an anonymous website posing as a legitimate Forex/CFD brokerage firm from the UAE. The fraudsters behind it mainly target German and Belgian traders, which is illegal. Only CBR has raised alerts about the swindling platform.

We do not recommend trading on such platforms due to their unregulated status. If you have fallen prey to QWEBank.com, 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 to start the chargeback process.

FAQ Section

What is QWEBank.com?

It is an anonymous website pretending to be a legitimate UAE-based Forex/CFD trading firm.

Is QWEBank.com Legit?

No. This company does not exist anywhere besides its own website. The CBR thinks so, too.

Who Owns QWEBank?

The website alleges that QWE Bank LLC owns this business, but such an entity doesn’t exist.

With registration in 2016 and seemingly transparent features, this company could be one of the leading crypto trading platforms worldwide. Thus, they are failing heavily. Not only their number of users is quite poor, but also the company’s reputation.

In most cases, such collapses happen when the company operates ingenuinely. But to find out what’s the reason for this platform’s bad rating, make sure to read this detailed Deribit review carefully.

Legal Info: Is Deribit Legit or a Scam?

When you see a company as transparent as Deribit, it’s hard to believe they are doing something wrong. As can be seen, the company reveals its legal information, registration number, and addresses. Therefore, we have no reason not to trust DRB Panama Inc., which is registered, obviously, in Panama.

However, there’s one important detail that might determine your destiny with this firm. It’s the company’s lack of regulations. But also, warnings from Canadian AMF, and IOSCO. To be fair, once you start reading Deribit reviews, you won’t be surprised by these warnings. After all, they were operating without authorization from local regulatory agencies.

Who Are Deribit’s Victims?

Since 2016, Deribit exchange has been offering its services worldwide, with the exception of a few countries. Among these are the United States and Canada, according to their own web presentation. And yet, some reviews come exactly from users registered in one of these two.

Nevertheless, it appears this firm mainly advertises its services in: 

• United States
• Netherlands
• Brazil
• United Kingdom

Generally, before choosing your trading firm, it’s worth comparing their services with others. Therefore, we advise you to check up on our AssetivaX review as well. In case you experience trouble with any of these, our refund team is available for consultation anytime.

Traders Reviews

Regardless of Deribit USA restrictions, we have to say that there are no reviews coming from US traders. At least not on Trustpilot. It should be noted that the AMF has reported another domain that is currently inactive, deribit.us. This one might have been designated for the investors from the States. In any case, there are only 12 reviews on Trustpilot so far, which is quite surprising for a firm registered in 2016.

Whatever the case is, multiple traders reported platform issues, huge spreads, and even being scammed for almost $20K. All these details are quite worrying. But to learn how to avoid such traps, check our Musbex review. Meanwhile, reach out to us for refund assistance if you have trouble withdrawing your funds from the Deribit trading platform.

Leverage, Commissions, Spreads, Fees and Taxes

Quite important to remember is that the Deribit account also includes highly risky leveraged trading. Nothing less but with leverage up to x100. And that’s not the end since the leverage can increase. So, be careful with it.

Anyway, when it comes to fees, the company offers a standard maker-taker structure. For Bitcoin transactions, makers in futures have 0.02% (rebate) fees, perpetual futures 0.025% (rebate) fees, and options fees of 0.04%. 

On the other hand, takers can expect 0.05%, 0.075%, and 0.04%, respectively. Liquidation fees are a bit higher, but at least it’s all transparent on the company’s platform.

Bonuses

As can be seen, the Deribit crypto exchange doesn’t offer a standard form of a welcome bonus. However, if you sign up with them, you can get a 50 USDC trading fee rebate. Thus, we advise you to check the conditions for those first.

Deribit Trading Features

Among advanced trading orders, incremental liquidation, and block trade functionality, there’s one quite important feature. It’s the API option that allows users to execute trades, manage balances, and track markets without direct involvement.

Trading Platforms Available

Generally speaking, desktop and laptop users will have to satisfy their needs with a web-based solution. Even though it has all you need, the reliability of the platform is questionable without adequate licenses. 

In any case, you can trade spots, futures, and options, all in one place with quite an intuitive and user-friendly platform.

Available Trading Assets

When it comes to tradeable instruments, the company doesn’t lack any of the popular options. Thus, traders have to remember that the only exchange methods are BTC, ETH, and ERC20 native tokens. 

All in all, the offer consists of: 

• Spot trading – BTC/USDT, XRP/USDC
• Futures – DOT/USDC PERP, XRP/USDC PERP
• Options – MATIC, SOL

Account Types

In general, the company doesn’t have any special account type offers. However, to manage the Deribit price movements, traders can open up to 20 sub-accounts. Thus, they should keep in mind every account will have a separate margin treatment.

Mobile Trading App

Indeed, yes. Whether you are an iOS or Android fan, this crypto trading platform got you covered. Thus, it’s quite surprising there are only a bit over 10k downloads on PlayStore. With activities dating back to 2016, that’s quite a poor download rate.

Demo Account

One of the key advantages of this platform is its virtual account availability. For this feature, you won’t have to complete the KYC process. Thus, if you decide to take a step forward, get ready for it.

Education

Besides regular crypto articles, market research, and news, traders can also apply for options courses with this company. Or simply check the discussions on Deribit Reddit groups. But generally, after warnings from trusted authorities, you may as well seek education somewhere else.

Deribit Withdrawal

With only crypto withdrawal options available, traders can certainly expect potential problems. Overall, crypto exchanges keep the funds in hot and cold storages, especially with these payment options. Therefore, the availability of the funds might determine how fast you can get your withdrawal.

According to the company, it should be immediately. Yet, you should be aware of potential verification malversations, undisclosed fees, etc.

Customer Support

Besides a regular help desk, the company also offers live chat features, e-mail, and Telegram. But when you see their channel consists of only a bit more than 2.5k members, it’s clear they are not as popular as advertised. All in all, you should have adequate support 24/7.

Key Information To Consider About Deribit

With Deribit test features, transparent fees, and solid support options, some might think the company is flawless. However, without regulations and with multiple warnings, traders might change their opinion. 

All in all, we advise you to take a few extra research steps before depositing with questionable firms. Thus, if you do deposit anyway, you can always book a free first refund consultation with our experts.

FAQ Section

What is Deribit?

Deribit is a Panama-based crypto trading platform offering a wide range of crypto investing services since 2016.

Is Deribit Trustworthy?

No. Deribit exchange operates without any licenses and regulations for its services. Also, there is a warning from the Canadian AMF against them.

What is the Fee Rate of Deribit?

With the maker-taker model, traders can expect fees of up to 0.9% depending on the trading feature. But if you experience problems with these, contact us for refund assistance.

Generally, Xeggex, or Zeg-Ex how it should be pronounced, doesn’t reveal much legal information. Luckily, crypto news platforms reveal their headquarters are based in Seychelles. Not the most convenient country to register a crypto platform. Like it’s not enough that crypto transfers are anonymous by themselves. 

In any case, to discover if your money is safe with this exchange, make sure to read this Xeggex review carefully.

Legal Info: Is Xeggex Legit Or A Scam?

As a centralized exchange registered in 2021, the company should know much more about transparency. After all, we are more than a decade in the crypto revolution. Sadly, they don’t think the same. Therefore, the only way to find out if you can trust them or not is with Digital Asset Service Provider licenses.

Overall, we recommend you trust firms with trusted regulations like AMF, SEC, FCA, or similar. Yet, the worst part of all is that this platform doesn’t have literally any. Consequently, their security standards and cold storage features can’t be that much trusted.

Who Are Xeggex’s Victims?

With active services since 2021, you would expect much more Xeggex reviews, especially positive ones. Thus, once you start reading those, you realize that almost 20% of users are victims in one way or another. And in the case of this exchange, those mainly come from: 

• Turkiye
• France
• United States
• Brazil

Obviously, targeting countries with top-tier regulations is the company’s specialty. To learn how to recognize similar companies, check our AssetivaX review, as well. Meanwhile, if you have trouble withdrawing funds with this exchange, let our refund specialists know.

Traders Reviews

Whether you check Trustpilot or Reddit comments about the Xeggex exchange, you will realize it’s not among the most trusted ones. As can be seen, some traders report it as a scam. On top of that, out of 94 comments on Trustpilot, almost 20% come with some complaints.

Therefore, traders have a high chance of experiencing issues with the Xeggex app. Believe it or not, there’s a positive side to it. You can simply reach out to our refund team and find out how to recover your money.  

Investment Costs With Xeggex Exchange

Overall, the fees you can expect with this company are quite fair, starting at 0.2%. The lowest you can get is 0.06%. But let’s be honest, if you have reliable service that you can trust, not even 0.2% is that problematic.

Nevertheless, one way to promote proprietary XPE tokens is to offer lower fees if you have a higher 30-day trading volume. Also, that gives you a chance to lower your fees by an additional 25% if you use the XPE token to pay for costs.

Bonuses

When it comes to starting bonuses, some exchanges might offer them, but mostly when they promote ICOs or proprietary tokens. Luckily, with this platform, such offers are not available. Believe it, without regulations you don’t want bonuses.

Xeggex Trading Features

Besides regular spot trading, the company offers a few other interesting options. For instance, P2P exchanges, faucets, and giveaways, but also NFTs. Of course, we shouldn’t forget the proprietary token options. At the moment, the Xeggex token price sits at $0.202.

Trading Platforms Available

Very often, you will see trusted exchanges offering dedicated desktop and mobile apps. But could that help to make Xeggex legit? Of course, not. 

In any case, they only offer a web-based solution with allegedly secured cold storage, advanced authentication, backups, encryption, etc. With all the complaints, we wonder how traders have issues if it’s all that slick.

Available Trading Assets

With more than 500 crypto-tradeable assets, the company can easily compete with top-tier exchanges. Regardless of their reliability, the offer is quite attractive, especially with the NFTs included. 

Nevertheless, once you complete the Xeggex login process, you’ll have options like: 

• TRX
• DOT
• ADA
• SAL
• ZEC and many more.

Account Types

Generally, traders can join the Xeggex platform without any special requirements. Not even KYC is required to get started. When it comes to classification or some special treatments, there are none.

Mobile Trading App

What’s surprising about this exchange is that iOS and Android users don’t have dedicated apps in the offer. For most crypto enthusiasts that might be a deal-breaker, mainly due to security reasons. To find out more about the importance of crypto security, check our Musbex review.

Demo Account

To be fair, traders can rarely expect a demo account with crypto exchanges. The business is quite straightforward. Therefore, the only option to test out the company is to deposit money and experience it firsthand.

Education

When it comes to crypto and NFT education, the company doesn’t offer any. If you don’t know anything about it, we would advise you to stay away from it for a while. Or simply choose licensed exchanges where you can find more educational material.

Xeggex Withdrawal

One of the positive things about this firm is transparency of Xeggex withdrawal fees for all coins. In most cases, the fees are way below $1 approximately. 

On the other hand, withdrawals of DETF may take up to $10 and its price currently is $245. Therefore, you can have an idea of fees in percentages.

Customer Support

As can be seen, the Xeggex crypto exchange advertises full-time support availability. Yet, the only way to reach the support is through ticket, Telegram, and Discord. With many traders reporting being kicked out of support channels, you might reconsider your exchange choices.

Key Information To Consider About Xeggex

The only detail you should remember is that this exchange is not regulated anywhere. On top of that, they offer services in the US and Canada. Consequently, the chances of experiencing issues are extremely high. Especially after numerous reports of missing funds, withdrawal issues, and high fees.

If you are one of those experiencing such problems, contact our refund team today for a free consultation about refund options. Don’t let it slip.

FAQ Section

What is Xeggex?

Xeggex is a highly speculative centralized exchange that has been offering services since 2021 with headquarters in Seychelles.

Is Xeggex Exchange Safe?

No. Xeggex is not a regulated exchange and therefore it’s no wonder the company has many negative reviews. To recover money stuck with this firm, contact our experts for assistance.

Does Xeggex Require KYC?

For daily withdrawals up to $5.000, the Xeggex crypto exchange doesn’t require KYC verification.

If you’re wondering whether or not you can trust Stonley Trading broker, you’re at the right place. We’ll check this allegedly fully automated trading system for you and tell you exactly what to expect.

Stay with us until the end of this Stonley Trading review, and you will better understand all facts. And if you lost your funds, keep reading to learn how to recover them.

Is Stonley Trading Legit or Another Automated Trading Scam?

This is the first question we need to ask ourselves. Is the broker legit or not? To find out, we only need to check one thing. Whether or not this trading firm has a license for its services.

If we were to trust the main website page, the company is owned by Stonley Trading Ltd located in London, UK. Therefore, they need to have an FCA license to conduct the business. As you can guess, we found no company with this name after checking the said register.

As a matter of fact, we found no such company in any register worldwide, from the US CFTC to Australian ASIC. Therefore, we can only conclude that this is yet another online hoax extorting money from inexperienced investors.

Who Are the Victims of Stonley Trading Scam?

Now that we’ve concluded this broker is nothing but a fraud, let’s see where it operates. According to WHOIS database, the domain stonleytrading.com was registered on the 26th of April 2024. Client information is hidden, so we cannot dig deeper to see behind the scenes.

Anyways, we’ve checked some of Stonley Trading’s reviews by users to build a better picture. Namely, the German Trustpilot page contains 34 comments at the time of writing, with an average score of 3.4 stars. While there are plenty of positive comments, you’ll notice they’re short and vague. Meanwhile, the negative ones are detailed and describe the exact user experience.

Besides Germany, our analytical tools show that the broker operates in:

• Switzerland,
• Austria,
• Ukraine.

Regardless of where you come from, if you need assistance recovering your funds from this brokerage firm, don’t hesitate to contact us.

Trading Terms, Fees, and Costs

When it comes to Stonley Trading spreads, we can say they’re pretty hefty. Depending on the account type choice, spreads can range between 0.0 and 4.3 pips. However, for the lowest ones, you’ll need to invest at least 500,000 EUR. Quite a deal, right?

Another proof that this company cannot be regulated in Europe, the UK, or anywhere else is its leverage. While the EEA zone authorities, along with the UK FCA, imposed a leverage limit of 1:30 for retail clients, this broker offers anywhere from 1:25 to 1:800. As an inexperienced trader, you can lose everything you have invested in a blink.

Finally, other fees and costs are not specified, and the brokerage doesn’t mention them in their Terms and Conditions. Therefore, you can expect some hefty prices there.

Stonley Trading Bonuses

Starting with the Gold account, you can get bonuses ranging from 30% to 100%. While this may feel like a good deal, it’s actually not. Unregulated brokers often add various bonus clauses to their legal documents, preventing clients from withdrawing funds. We can only advise you to be cautious when accepting any incentives. 

Account Types Choice

Let’s discuss the infamous Stonley Trading account type choice. According to their web page, you can choose from the following:

• Basic – 5,000 EUR
• Bronze – 10,000 EUR
• Silver – 25,000 EUR
• Gold – 75,000 EUR
• Platinum – 150,000 EUR
• Diamond – 300,000 EUR
• VIP – 500,000 EUR

While it may seem as if the minimum deposit stands at 5,000 EUR, that’s often not the case. Many brokers, such as QWEBank.com, will accept anything from 250 EUR onwards. After you’re already hooked, they will sell you account upgrades and various benefits such as bonuses, quicker withdrawals, direct contact with your account manager, educational courses, and so on. As you already know, you’ll get virtually nothing.

Demo Account

Allegedly, there’s Stonley Trading demo account where you can test the platform, EAs, robots, and strategies. However, once we signed up, we got no access to it. While there’s a possibility that you need to ask the company to open it for you, we believe this is just another trick to get your registration details.

Trading Platform

The reason we suspect there’s no demo account is the platform choice. Instead of offering MT4, MT5, cTrader, or any other third-party software, this brokerage opted for a WebTrader. It’s the one easiest to manipulate since broker agents can change the data you see on your screen.

Fraudulent firms often use web-based solutions to manipulate their users into thinking they’re making huge profits or are in deep losses, thus controlling your emotions and impacting your decisions.

Additionally, the firm claims its system is fully automated, with a wide range of robots and EAs, including an Equinix NY4 server, yet they don’t offer a mobile app. Says a lot about their tech abilities.

Trading Assets

If you’re still keen on testing this firm, you can trade in the following markets:

• Forex – EUR/USD, GBP/AUD, CAD/NOK
• Shares – Amazon, Meta, Google
• Indices – S&P500, NASDAQ
• Cryptocurrencies – BTC, ETH, XRP
• Bonds

The company also mentioned merchandise, however, we’re not sure what falls under this category. Seems that whoever made their website didn’t quite understand the topic. 

Stonley Trading Withdrawal Policy

As we already mentioned, this firm has no clear withdrawal policy. They claim that withdrawals are fast, yet don’t specify how fast. In addition, we know nothing about the deposit and withdrawal methods they accept. 

All in all, payout issues are expected. If you cannot get money out of your Stonley Trading account, don’t hesitate to get in touch.

Key Information to Consider About Stonley Trading

To summarize, Stonley Trading is an online trading brokerage allegedly based in the UK. The company has no authorization from the local or any other authority to provide financial services.

Since there’s no clear withdrawal policy and other legal documents don’t elaborate on the matter, issues are unavoidable. If you experience any, let us know. Our mission is to create a detailed file of all online scammers, warn the public, and help you on your way to financial recovery. We’ll evaluate your case during a free consultation and consider what can be done in your particular case. Sign up today, and let’s start working!

FAQ Section

What is Stonley Trading?

Stonley Trading is an unregulated online trading brokerage allegedly based in the UK.

Is Stonley Trading Legit?

Stonley Trading is not a legitimate trading firm. It has no authorization by the UK FCA or any other financial authority.

Who Owns Stonley Trading?

Stonley Trading is allegedly owned by Stonley Trading Ltd. However, a firm with such a name cannot be found in any business register.

Today, we’ll discuss one fraudulent broker that’s been exposed by authorities. Why? Because we want to help you understand the reasons for the warnings and prevent you from falling into a trap.

And if you’ve already invested? Keep on reading this detailed WellVest.pro review.

Is WellVest.pro Legit?

If there were an award for the vaguest broker, it would easily go to WellVest.pro. On its main page, the company claims to be registered in London, UK. Besides this, we have no other information about the owner or any legal documents whatsoever.

Equipped with the alleged UK address, we’ve searched the FCA register looking for WellVest broker. As you can assume, we found nothing. The same is true for other tier-1 registers such as BaFin, CNMV, CFTC, etc. 

What we did find are warnings. Namely, the Austrian FMA issued an official notice stating that WellVest is “not authorized to conduct banking services in Austria that require a license.” That the same is true in other European countries is confirmed by a growing number of reposts of this warning, including Spanish CNMV, Slovenian A-TVP, and Estonian FI.

Who Are the Victims of WellVest.pro Scam?

Since we have an official confirmation of WellVest.pro scam, we can now check who their victims are. At the time of writing, we found 10 comments on Trustpilot, with an average score of 3.3 stars. There were an equal number of positive and negative reviews, suggesting that the broker is trying to clear its reputation.

In addition to these WellVest.pro reviews, we used our analysis tools. In conclusion, the majority of this broker’s victims come from:

• Greece,
• Italy,
• Spain,
• Germany,
• France.

Leverage, Fees, and Spreads

Another proof that this broker is lying about the alleged address is the leverage. Namely, the UK FCA and other European regulators capped leverage at 1:30 for retail investors. Meanwhile, WellVest.pro offers 1:50 to 1:1000. This is way above the limit and quite dangerous for your funds. With such leverage and without a negative balance protection, your account can easily go to minus, and you’ll be in debt to the broker.

The spreads depend on the account type, with the minimum being 0.0 pips and the highest one starting at 1.5 pips. Other costs and commissions have not been revealed, meaning the brokerage can make up any when it suits them.

WellVest.pro Bonuses

Another thing the European regulators prohibit is bonuses. Scam brokers were abusing them to limit clients’ withdrawals, after which we saw a ban on incentives. And yet, our scammer in question offers a 30-100% deposit bonus, depending on the account type.

Account Types on Offer

You can choose from four WellVest.pro account types:

• Standard – 250 EUR
• Silver – 5,000 EUR
• Gold – 25,000 EUR
• VIP – 50,000 EUR

Each account brings more bonuses, a higher leverage, and additional research and assistance. However, when you know that all those alleged analysts employed by WellVest.pro scam broker are fake, why would you pay these sums?

WellVest.pro Trading Platform

Sadly, this broker didn’t impress us even with their trading platform. Of course, instead of offering an advanced solution such as MT4, MT5, or cTrader, this scam firm chose WebTrader. 

Why? Simply because broker employees can manipulate the numbers. You can see big wins or losses depending on the company’s sales strategy. This is why we always recommend that our readers stick with brokers offering third-party software as it’s more secure.

Since the solution is web-based, there’s no WellVest.pro app for Android or iOS. This broker didn’t really care about your convienience, only the depth of your pockets.

WellVest.pro Withdrawal

According to an FAQ section, the withdrawal is only possible after verifying your account. It means you have to submit your documents and confirm your identity in accordance with KYC standards. While this is normal practice with every trading firm, providing your documents to unregulated brokers can jeopardize your personal data.

The withdrawal request is submitted through the Client Portal using three base currencies: USD, EUR, and GBP. You can use the following payment methods:

• Bank wire,
• Debit/credit cards,
• E-wallets.

It may take a few days to process the withdrawal, whatever that means. Additionally, there’s no information about costs, so you can expect just about anything.

Key Information to Consider About WellVest.pro

Since WellVest broker is unregulated, they don’t need to comply with any policies. Therefore, they can steal your funds and vanish. This is why we suggest that you submit a withdrawal request immediately.

If you have any payout issues, report them to the local authorities. Also, leave a comment below to warn others. Finally, submit your details for a free consultation with our recovery experts. We’ll evaluate your case and find the best solution for a refund. Get in touch now!

FAQ Section

What is WellVest.pro?

WellVest.pro is an unregulated online trading brokerage with a number of warnings from financial authorities.

Is WellVest Legit?

WellVest is unregulated and has warnings from several European authorities, the main one being the Austrian FMA.

How to Withdraw Money From My WellVest Account?

You can try submitting a withdrawal request through your account with the broker. If that doesn’t work, you can contact us for help with recovery.

Lykke presents itself as a pioneer in the crypto industry with their registration in 2015, even though Bitcoin and other cryptos were founded years prior to that. Nevertheless, as a pioneer, the company should certainly know what the proper security is.

However, they don’t seem to care much about it. That’s why, in the end, you can see many complaints against this brand. To find out why, make sure to read this Lykke review until the end.

Legal Info: Is Lykke Legit Or A Scam?

If you check Lykke reviews, you will find too many scam allegations. For a UK-based company, that’s more than a red flag. When it comes to legal information, the company presents us with three entities. Lykke EU UAB (Lithuania), Lykke Corp UK (UK), and Lykke Business AG (Switzerland). It’s important to realize that none of these entities hold proper DASP/VASP licenses issued by local authorities.

With this in mind, you shouldn’t be surprised that the UK’s FCA has published a warning against this exchange. Therefore, you have a clear sign the company has been avoiding laws and regulations. Not to mention that certain security incidents required the company to stop its operations, including deposits and withdrawals.

Who Are Lykke’s Victims?

With almost 10 years of activities, it’s quite surprising the company still didn’t get a license. But if they had it, they could only offer services to a few countries. This way, they can target any country in the world. 

Based on the website analytics, it appears they mostly have traders from: 

• Sweden 
• Germany
• United Kingdom
• United States
• France

It’s quite easy to check that all these countries have top-notch financial regulations. Yet, it seems this firm doesn’t care much about it. To find out more tips on why regulation is the key, check our Forex Eze review as well. Ultimately, if you have trouble withdrawing funds from any of these firms, let us know. At least you can get a refund consultation completely free with our team.

Traders Reviews

Whether you look at Lykke Reddit or Trustpilot comments, you will find users reporting issues with this exchange. To be fair, there are the ones that claim they never experienced any trouble. But that doesn’t mean they won’t.

All in all, when you see 40% of comments including complaints, it’s a hint to keep your money away from that company. Thus, if you trust them for some reason, don’t hesitate to reach out to us for chargeback assistance.

Fees and Commissions With Lykke Exchange

As can be seen even from Lykke Trustpilot comments, the company truly has zero maker and taker trading fees. In addition to that, there’s a 0% commission for algo trading for API users. 

All this becomes highly attractive for an average crypto user. Generally, it seems the company only charges buying and selling spreads, which are also low.

Bonuses

With all the generous Lykke fees, it would be quite surprising if there were also bonus offers on the table. Usually, crypto exchanges offer them with ICOs or proprietary token offerings. 

On the positive side, you won’t have it there. However, you can earn 5% bonuses through the staking reward program.

Lykke Trading Features

One of the key features of Lykke exchange is the API option with HFT and algo trading allowed. Among that, traders can use regular exchange options, and staking features, and earn through proprietary LYFFE tokens that are not released yet.

Trading Platforms Available

As can be seen, Lykke exchange only offers a web-based platform among its mobile apps. With basic analytics and a simplified platform, there’s no hard time using this software. On top of that, you can use the company’s ATTMO weather–inspired tool for crypto signals.

Available Trading Assets

With only a bit over 20 most popular cryptocurrencies available, traders will have quite limited instrument offer. But also, they can trade other crypto-fiat pairs that will expand the options a bit. Some of the main cryptos include: 

• Bitcoin
• Litecoin
• Ethereum
• Solana
• Ripple and a few others.

Account Types

With crypto exchanges, you will rarely see any specific requirements to sign up. Usually, something small such as $10 is needed to activate the account and get started. 

In this case, it’s $50. On the positive side, this company also accepts fiat payments which is a good sign. Thus, their operations are currently inactive due to security reasons.

Mobile Trading App

A great thing about the Lykke crypto exchange is the reliability of its iOS and Android mobile apps. As can be seen, these have more than 50k users and quite solid ratings in trusted stores. But with all the complaints against the company, this won’t matter much if you can’t withdraw your money.

Demo Account

With quite simplified features, there’s practically no need for a demo account. Especially if you keep in mind their minimum deposit requirement. But to find out when you should have a demo, check our Mestieriplaza review.

Education

When it comes to additional and educational resources, the company offers only API features and help center information. Thus, if you want to learn more about the crypto world, we suggest you check somewhere else.

Lykke Withdrawal

Due to security reasons, the company has stopped all of its operations, which also include withdrawals. Therefore, after completing the Lykke login process, don’t be surprised with it. 

Unfortunately, it will stay like that until further notice. Anyway, once it’s back again, you should have withdrawals without any fees, except for USD payouts. But again, numerous complaints make it highly speculative.

Customer Support

When it comes to contact options available, the company offers only a few. That’s, in the first place, web contact form without operating hours disclosed for possible feedback expectation time. In addition to that, there is a Telegram and Discord channel.

However, with only 800 members in the Telegram group, we highly doubt you will get much out of it.

Key Information To Consider About Lykke

The only detail you should keep in mind about the Lykke app is that it’s found on a warning list of the FCA. Consequently, nothing else this company tells you can be trusted. Therefore, we strongly advise you to withdraw your money immediately, and if any problem occurs to contact our team.

With our expert’s advice, you can find out how to recover your money. Most importantly, you can get the first consultation completely free. Book it today.

FAQ Section

What is Lykke?

Lykke is a crypto exchange apparently registered since 2015 in Lithuania, the UK, and Switzerland.

Is Lykke Legit?

Not at all. The company operates without any regulatory oversight and on top of that, FCA issued a warning against the Lykke scam company.

Can I Trust Lykke Exchange With My Crypto?

Definitely not. But if you did for some reason, feel free to contact our refund specialists for a free first consultation about the recovery process.

Professional cybercriminals are using the novelty of cryptocurrency trading to prey on industry newcomers. As the ruses become more sophisticated, it becomes ever more difficult to distinguish the real deal from a fraud.

Unfortunately, many traders have found out the horrible truth about this exchange the hard way. Our HiBT review will show you how to avoid getting scammed, and how to recover money lost from a fraud.

Proof of Regulation: None

The HiBT exchange operates anonymously and without any license to provide crypto trading services. The company’s website claims that the exchange was established in 2021 in Canada. 

However, this country has provincial regulatory bodies in charge of supervising crypto providers in their areas. Therefore, it’s impossible to discover which body the company is registered with – if any at all. No particular details about registration and license were provided by the firm anyway.

While exploring legal documents for additional clues, we found Seychelles, Hong Kong, and Singapore being mentioned along with their courts. Apparently, the scheme is actually an offshore one, again without proper registration and license since neither FSA, SFC or MAS supervises them.

Recruiting Victims Through Social Networks

The swindlers have bought up an old domain to make their firm seem like it’s older than it is, which is a strategy Lykke uses as well. While the hibt.com domain was indeed created in 2011, it remained empty and listed for sale until April 2024.

This explains why you won’t find any HiBT reviews on ratings platforms. Here is a list of nations that generate the most traffic to the site:

• United States
• Germany
• Malaysia
• Japan

To attract victims, the fraud circle has created an elaborate online footprint. This includes profiles on numerous social networks, like Facebook, Instagram, X, and LinkedIn, with the exchange even listed on CoinMarketCap. 

The exchange has been banned from Reddit, with the apparent reason being that it was used for spam for a prolonged time period. Knowing how cybercriminals work, we can be confident that the spam was HiBT scam recruitment.

Not a Single Fee Revealed

The only trading condition revealed is the maximum leverage being 1:125 and maker/taker fees being 0.2%. The lack of transparency in the case of the HiBT scam is disturbing, to say the least.

Naturally, by becoming a client on this shady portal, you accept all of their terms and conditions. If you pay attention to the legal papers, you will only see claims that the client is obligated to cover all incurring fees. These are various, as there are network fees, transaction costs, commissions, taxes, and other charges… Dozens of them.

Range of Unregulated Services

At first, you may think that the company has a whole array of features to offer and most distinguished services when it comes to trading and staking crypto. Don’t be fooled, however. There’s nothing easier than claiming to be legit and setting up a crypto-stealing scheme.

Risky Trading Environment

The rudimentary web trader that we found in the user area doesn’t seem like the most reliable software solution for conducting online trading. Simple, yet barely functional, the software doesn’t include advanced analytical features, let alone the option to provide deeper market insight. If you choose to trade on here, you’ll be risking losing everything.

QR Code for Mobile Apps

The HiBT app for mobile devices can’t be downloaded from popular online app stores like App Store and Google Play, no. The only way to acquire this shady software is by scanning the QR code provided on the site after the sign up.

If you choose to do that, you risk infecting your device with malware or data-stealing software, so beware. If the app passed security checks, it would have been featured in the mentioned stores.

Popular Assets

Not a particularly wide range of digital currencies is available to buy and sell on this portal. Besides the most popular pairs, you won’t be able to trade other, more volatile crypto tokens. Here’s a short list of the currently most frequently traded coins:

• BTC/USDT, 
• ETH/USDT, 
• LINK/USDT, 
• BCH/USDT, 
• ADA/USDT, 
• MATIC/USDT, 
• ENA/USDT, 
• SOL/USDT

Account Necessary

If you’re interested in using any of the available services on this platform, you will first have to register for an HiBT login, although we do not recommend it. Sharing your personal information with shady websites like this one and FX Paramount can inevitably lead to identity theft. 

Furthermore, you’re immediately required to complete the KYC, which is another way fraudsters use to force you to disclose sensitive information. Considering all of the aforementioned, you’re advised not to create an account on this site.

Impossible To Withdraw

Payment channels are a total doozie. Allegedly, the company will accept deposits through a wide variety of coins, but the facade falls apart when you start reading all of the options. For instance, the dialog will prompt you to make an impossible Bitcoin over the Ethereum (ERC20) blockchain transaction.

The procedure for HiBT crypto payouts isn’t even defined. The Terms and Conditions say that withdrawals are done in accordance with Terms, and fail to elaborate any further. There is a step-by-step tutorial on how to request a payout, but the mentioned option doesn’t actually exist in the application.

Standard Support Options Omitted

Website users are advised to rely on the help desk with FAQs, as well as the community for support. If you want to get in touch with an official client service office, you won’t be able to do so. 

Instead, every client is directed to join one of the many communities and discuss their ideas and issues in those chat groups.

Our Experts Can Help Recover Money

The perpetrators of this online cryptocurrency fraud have taken complex measures to avoid detection and entrap their victims. If you start poking around enough, you’ll eventually find out that the company is not licensed as it claims to be, which undermines any credibility.

Still, falling for such an elaborate ruse is nothing to be ashamed of. Our experts can help you get back on your feet and recover the stolen money! You may reach us at any time by using the live chat on our website.

FAQ Section

What is HiBT?

It is an online cryptocurrency trading fraud that has unfortunately gained popularity in recent months.

Is HiBT Legit?

No, the company is completely illegal. Their alleged licenses are actually counterfeit documents.

Can I Withdraw Crypto From My HiBT Account?

These charlatans won’t let you withdraw easily. Book a free consultation with our professional team for help with asset recovery.

It’s hard to find a single positive thing about this brokerage, starting with its legal information, misleading details, and mostly hidden conditions. All these details combined make for perfect soil for an investment scam.

In general, most of the details in this CustomTrade review can be applied to any other unregulated brokerage. Therefore, we suggest you read it carefully and make notes.

Legal Info: Is CustomTrade Legit Or A Scam?

As can be seen, CustomTrade brokerage presents us with a registration certificate from another company. It’s Coinexx LTD, with a registered address in the UK. Certainly, these are two completely different firms. To make everything even worse, CustomTrade reveals its own address – 60a Station Road, North Harrow, England, HA2 7SL.

Luckily, the UK’s FCA has exposed them quite quickly with a public warning. A few days later, the move was followed by the Italian CONSOB. Therefore, if you are planning to invest money somewhere, you better skip this brokerage.

Who are CistomTrade Victims?

With the domain registered in June 2024, we are not surprised that no CustomTrade reviews are available. But when you target top-tier regulated countries, it’s obvious you get quickly exposed. In this case, the most targeted countries are: 

• United Kingdom
• United States
• Australia

It’s important to realize that all these countries have top-notch regulatory standards. They’re a bit different but at least secure. Therefore, if you want to learn the differences between regulations and trusted and untrusted firms, check out our The Core Markets review as well. In the end, if any broker holds your money, don’t hesitate to contact us for refund assistance.

Leverage, Commissions, Spreads, Fees and Taxes

One of the most concerning details of the CustomTrade broker is its hidden trading conditions. Neither are leverage, spreads, or commissions revealed. Therefore, you can expect a lot of manipulation around it. But here’s a tip for you in our Growup Capitals review to find out how to recognize reliable brokers. Only with one feature – leverage.

         Bonuses

Bonuses in general look quite attractive to inexperienced traders. However, the ones who burned their fingers once won’t accept them that easily. Primarily because with scam brokers, bonuses often include shady clauses. In most cases that prevents them from withdrawing their money. With hidden documents from the CustomTrade trading firm, it’s hard to prove if there are any. So, watch out.

CustomTrade Trading Features

One of the most concerning details of this company is its investment plans which include fixed returns. Most importantly, these go up to 50% in 5 days. Fairly, with such poor web design and low transparency, we highly doubt these features are real.

         Trading Platforms Available

Even though the company promotes MT4 WebTrader to be available, it’s most likely another lie. Especially after the warning from the FCA, it shouldn’t even be discussed.

One way or another, it’s nothing good. If they offer MT4, that means they are scamming you the other way around. If they offer a proprietary platform, they manipulate it. It’s that simple.

         Available Trading Assets

Tradeable assets don’t make a huge difference if you can’t trust the company. Not to mention that all assets offered here can be found with any other tier-1 licensed firm. Starting with: 

• Forex – USD/JPY, EUR/NOK
• CFDs – gold, Amazon, NASDAQ
• Cryptocurrencies – TRX, DOT

         Account Types

To find out whether CustomTrade is legit, you just have to check their investment plans. These include fixed returns that magically raise with your deposits.

Anyway, the options are: 

• Basic – $50 / 10% after 24 hours
• Corporate – $1,000 / 15% after 48 hours
• Standard – $5,000 / 25% after 72 hours
• Shareholders – $10,000 / 50% after 5 days

         Mobile Trading App

If the CustomTrade account includes MT4 WebTrader,  there’s no reason not to offer mobile apps as well. And yet, they don’t, which is another sign to skip this broker’s offer.

         Demo Account

One of the concerning details is that registration for the account requires your crypto wallet IDs. Even if you don’t want to deposit any money, you have to provide this information. To sum it up, a demo account is not an option. So, why would you risk anything here?

         Education

Education is the key to success in trading. Therefore, looking for a broker that offers a wide range of options can help you a lot. But make sure to find an education with licensed brokers. The one offered by CustomTrade company doesn’t include any advanced techniques and features.

CustomTrade Withdrawal

As can be seen, the company advertises bank transfers and crypto transfers as primary methods. They even waive the fees for wire transfers.

However, with all other details hidden, you can surely expect issues, starting with verification of your account, taxes and non-existent fees. All that combined gives this broker a huge advantage.

Customer Support

Sadly, before you complete the CustomTrade login process you won’t have any relevant contact options. Only e-mail is available for regular visitors. Once you sign up, you can most likely expect encrypted contact channels like Telegram and WhatsApp. But keep in mind you can always get kicked out of those.

Key Information To Consider About CustomTrade

The only thing to consider about CustomTrade scam brokers is the warning from the FCA and CONSOB. With this in mind, there’s no chance you can have a good experience with them.

Anyway, don’t be surprised if they disappear soon. Meanwhile, we suggest you apply for a refund if you have money stuck with them. To find out the exact procedure, get in touch with our team for a free first consultation.

FAQ Section

What is CustomTrade?

CustomTrade is an anonymous FX, CFD, and crypto trading company allegedly operating in the United Kingdom since 2024.

Is CustomTrade Legit?

Absolutely not. The company is not regulated in the first place but there are warnings against them issued by the FCA and CONSOB.

Where is CustomTrade Located?

Allegedly, in London, UK. But we highly doubt it. In any case, we suggest you withdraw the money immediately or contact us for refund options if you experience any issues.

At first glance, you might think this company could be a good choice. But the more information you seek, the more problems you will encounter, along with huge red flags.

All in all, our honest Vergo Strategy review will show you that this firm can’t be trusted. Remember to use all our strategies to protect yourself from other swindlers, such as Bitexfy crypto exchange.

Legal Info: Is Vergo Strategy Legit Or A Scam?

According to the presentation, this brand is allegedly operated by Vergo Pty. Ltd., a company registered in Australia. This company has been a regulated entity since 1995 and appears on the ASIC register (ACN 070 081 202). The key problem here is that Vergo Strategy doesn’t share legal documents to prove its connections with this entity.

Another issue is that Verg Strategy reviews come from users registered in Germany, UK, Italy, the US, Canada, etc. Yet, the company is not authorized by any authorities in those countries to practice trading services with their citizens.

Who Are Vergo Strategy’s Victims?

One of the key proofs you can’t trust this brokerage is its registration date. Not the one appearing in the registers. Instead, you need to inspect its domain, which shows that registration was made in June 2024. Traders that mostly fell for this trap come from: 

• United Kingdom
• Australia
• Israel

With this in mind, we encourage you to check our tips from TRIMAMEX review. Learning how to avoid these tricks is the key. However, we all fall for new schemes once in a while. If that’s your experience as well, contact us for refund advice as soon as possible.

Traders Reviews

With 44 (100%) positive comments on Trustpilot, everyone might think the company is legitimate. Thus, searching for the company’s license for instance with BaFin, SEC, or FCA, doesn’t bring any results. Therefore, feel free to consider these reviews fake.

With all these irregularities, the only thing left is to require withdrawal right away. In case of any issues, don’t hesitate to reach us for assistance.

Leverage, Commissions, Spreads, Fees and Taxes

If you ever traded with a top-tier licensed firm you would know that Vergo Strategy broker is not genuine. Firstly, they are hiding all commissions, fees, and spreads. That’s not how legitimate firms operate.

But even more concerning detail is the leverage of up to 1:500. However, ASIC-regulated brokerages are allowed to offer a maximum of up to 1:30 to retail users. There we go, you’ve got all the signs summed up.

         Bonuses

Without transparent legal documents and policies, it’s hard to find if there are any hidden traps. Therefore, be prepared for anything with Vergo Strategy trading firm. Honestly, we recommend that you avoid bonuses in general when trading with unregulated firms.

Vergo Strategy Trading Features

The company mentions advanced tools, state-of-the-art systems, and high daily trading volume. Yet, there’s not a single more detail regarding that. Not to mention the proof of it.  Fairly, with such a mysterious presentation, we should be happy if the platform exists at all.

         Trading Platforms Available

Trading platform plays a huge role in choosing your broker. Usually, experienced traders opt for MetaTrader, DAS Trader Pro, cTrader, or similar options. Yet, once you complete the Vergo Strategy login process, you won’t find these trusted options.

Instead, you can expect only web-based, manipulative platforms often used by unregulated firms. To avoid any irregularities while trading, simply choose a top-tier licensed and more transparent firm.

         Available Trading Assets

Apparently, the company offers more than 1,000 tradeable assets from different categories. However, registering for a Vergo Strategy account requires a promo code, which makes it harder to check.

Anyway, you can expect options like: 

• Forex – USD/JPY, AUD/SGD
• CFDs – platinum, Adidas, NASDAQ
• Crypto – ETH, SHIBA

         Account Types

You should know that the company requires up to $1 million in deposits and provides literally nothing in return. Except for higher leverage that can make you lose everything way faster. Even though deposit requirements are high, they will accept €250 to get you started.  Consequently, you can opt for: 

• Bronze – €10,000
• Silver – €25,000
• Gold –  €50,000
• Platinum – €100,000
• VIP – €200,000
• TOP – €1,000,000

         Mobile Trading App

If the company was any close to legitimate, there would be a Vergo Strategy app available. Sadly, there are none, and that proves the theory they don’t offer trusted trading software.

         Demo Account

One of the best ways to inspect the company’s features would be with a demo account. But when the company hides all trading costs, we can’t expect it. And that’s exactly the case with this brokerage.

         Education

In general, all licensed trading firms tend to educate their traders first. They want them to trade more and more. Logically, the only way to do so is if you make them trade profitably. And that’s not possible if you don’t know what you are doing. On the other hand, with Vergo Strategy scam broker, that doesn’t matter much.

Vergo Strategy Withdrawal

Again, without legal documents and withdrawal policies, it’s hard to find all the necessary details. At least, the company reveals the minimum withdrawal requirement. For wire transfers, it’s $300, while for all other methods it’s $1. Of course, fees and processing times are not disclosed. So, you can expect trouble there.

Customer Support

You can get in touch with the company via e-mail, web contact form, and phone. Apparently, their support is available 24/7. Yet, with all the red flags so far, we highly doubt it. Especially if you are looking for your money.

Key Information To Consider About Vergo Strategy

With the domain registered only a few months ago, it’s clear there’s something wrong here. Also, there are tons of reviews from users in top-tier regulated countries. Yet the Vergo Strategy is not regulated by any of those. Therefore, you better request a withdrawal as soon as possible.

In case there’s any obstacle, book a free consultation with our chargeback team.

FAQ Section

What is Vergo Strategy?

Vergo Strategy is a trading firm allegedly registered in Australia with offices in the United Kingdom.

Is Vergo Strategy Legit?

No. The company is not regulated anywhere, even though it misled traders about its ownership by an Australian firm, which is registered with ASIC.

How to Withdraw Money From My Vergo Strategy Account?

You can try with crypto, wire transfers, e-payments, and card transfers. But if you experience any obstacles, contact us immediately for a refund consultation.