The fancy looking website that hosts this forex service is nothing more than a facade. Underneath it lies a den of perfidious snakes, ready to rip you off when you drop your guard.

Our Baazex FX review will show you how to recognize fraudulent brokers, and how to recover the funds stolen by one of these scam entities.

Ownership Uncertain

The first detail about the Baazex FX broker that we need to clarify is the fact that this shady entity is in no way involved with or, as they claim, a subsidiary of baazex.com. The latter is a regulated Forex dealer and has nothing to do with the domain we’re reviewing today – baazexfx.com.

As a matter of fact, it is not revealed who runs the suspicious business we’re investigating. Legal documents are lacking and the website states a postal address in Cyprus as the location of the HQ. That is, after first claiming to be based in the US. Naturally, no Baazex FX exists in the Cyprus business register.

What FMA Warning Reveals

The New Zealand financial authorities have posted a warning, according to which this platform is just another one in the huge group of almost a hundred connected frauds. All of the listed domains are somehow connected and resemble each other. Furthermore, all of the involved quasi-firms are financial traps that have efficiently been emptying the wallets of thousands of traders. 

The final question you’re probably asking – is Baazex FX legit – has a single solid answer and that is no.

Terrifying Scheme

This is probably one of the biggest scam chains we’ve exposed up until now. The aforementioned warning lists almost a hundred firms and their domains that operate similarly. Most likely, it’s the same group of cyber criminals that are pulling the strings behind the curtains. At that, they’re completely anonymous, considering that there are no Baazex FX reviews posted anywhere online.

At the core of the sham is the heavily manipulated trading platform, for which to gain access, victims have to go through a boiler room brainwashing. Data shown through the trading terminal was fake and ultimately led targets to bankruptcy.

Web History and Geography

While the fraudsters behind the baazexfx.com domain claim to have been in business since 2011, the reality is much different. If you take a look at the WhoIs register, you’ll notice that the baazexfx.com website did not exist prior to December 2024.

The con artists have leased their domain for only a single year, which is another telltale sign something is wrong. After all, a legit company wouldn’t risk their online business by having their site taken over by someone else.

These con artists seem to focus on traders from these countries:

• Cyprus
• Japan
• United Kingdom

Single Account Type

A legitimate broker will usually have several account types ready for their traders. Commonly, these are divided by the type of market execution and billing structures. A demo is often offered, so clients can test the service in a risk-free manner.

With these cons you don’t get to any of these. The single login account gets you into the trading app, but there is no client dashboard where you can check your statistics and finances.

Doctored WebTrader App

The fraudsters advertise an “ST5” platform for the trading app. This is probably intended to sound like the industry standard MT5, which isn’t actually available.

Baazex FX app is thus a simplistic WebTrader, akin to the one used by Ledger-Markets scheme. It’s not a very complex piece of software, and it doesn’t have to be. You see, clients are more likely to notice the manipulation if they use advanced tools.

Tiny Selection of Assets

A wide selection of trading instruments is a staple of any successful online brokerage. Charlatans tend to mimic this by offering a range of assets as well.

However, without a license, the firm doesn’t have access to the market. Still, they have to keep appearances by offering something, so here is the range of Baazex FX trading instruments:

• Forex – EUR/USD, EUR/GBP, USD/JPY
• Crypto to FIAT – BTC/USD, ETH/USD, LTC/USD
• Indices – Nasdaq, Nikkei, Hang Seng
• Commodities – USOil, Silver, Gold

No Way to Withdraw

After browsing the website for a while, we didn’t notice even a single mention of available financial channels, no credit cards, wires, or crypto payments. As we’ve already mentioned, there isn’t even a client dashboard. If you went looking for the Terms and Conditions, you’d come back empty-handed, just like we did.

This leaves us without a single bit of information on how Baazex FX withdrawal and deposit functions. Now, other online hoaxes like Prime Quotes will have the victim go through a boiler room agent for any little reason. That is most likely the case here as well, with no actual payouts ever happening.

Unhelpful Staff

The broker’s website doesn’t have a dedicated help center. Instead, you get an FAQ page that is labeled “Common Business Issues,” an email address and a live chat button.

Honestly, the live chat is anything but, as the agents take ages to answer. As soon as they get on the line, their main goal is to solicit the fake brokerage in an attempt to get as much money as possible.

Scammers Got Your Money? Fight Back For It!

This would-be broker is a completely illegal entity. It is what is known as a clone company scam, where an illicit firm mimics a legit broker in order to deceive their clients. This particular fraud belongs to a known network of similar hoax sites.

While the swindlers have taken steps to ensure recovery of the stolen money is difficult, it is not impossible. To get started with the recovery procedure, book a free consultation with our expert team through the live chat.

FAQ Section

Where Is The Baazex FX Platform Registered?

The firm claims to operate out of the US and provides a Cyprus address. Neither of the information checks out.

How Can I Recover Money From Fraudsters?

It is difficult to gain back the stolen deposits unless you seek help from chargeback professionals. Our team is always at your disposal, so don’t hesitate to contact us.

When it comes to DeltaStream broker, there are many things to stay — starting with the fraudulent owner, suspicious trading conditions, and undisclosed terms. Read our DeltaStream review to find it all out.

What About DeltaStream Regulation?

DeltaStream is owned by Ineffable Group Ltd from the Commonwealth of Dominica. This fraudulent trading firm has two other unlicensed brands like DeltaStream – Flex Capital and Iconic Capital.

If you ever come across any of those, know that you’re dealing with a fraudulent offshore scheme that involves several brands pretending to help you get the money from the previous one that scammed you.

Since the broker has no license with the FSU or Tier1 regulators, you can already understand that your funds are at risk.

DeltaStream Withdrawal Issues

Since DeltaStream is unregulated, having problems withdrawing your funds shouldn’t surprise you. The broker has no regulatory supervision and is not at risk of being penalized if it refuses to process your request. As you may know, regulators are there to make brokers form compensation funds that should be used for reimbursement in cases of issues. However, such a fund doesn’t exist with offshore fraudsters, and getting money back is difficult.

According to reviews, DeltaStream is freezing clients’ accounts after asking for payout not to access the money. If something similar has happened to you, report it immediately.

In addition to the above, we strongly advise you not to invest in DeliTraders, Safe Holdings and AvaChoice fraudulent brokers.

Areas Of DeltaStream Scam

According to complaints, the broker is mainly present in Canada and Germany. However, there are numerous negative reviews from the UK, Australia, Austria, Switzerland, and more.

Be aware that DeltaStream forex brokerage has no authorization to provide legal financial services, and putting any money into this brokerage is a risk.

Traders About DeltaStream Scam

As you can already imagine, traders have nothing good to say about DeltaStream. They’re massively complaining about withdrawals, claiming that as much as they try, getting a refund is nearly impossible.

The broker is also asking clients to allow remote access to their computers via AnyDesk or TeamViewer and steal their funds.

How Does Online Trading Scam Work?

The online trading scam usually starts with an ad showing significant profits and people making millions from investments of $250. Yet, once you sign up and add your details, you will be pressured to invest more and more no matter how you feel about the offer.

You might be caught up in the bonus scheme and denied getting a payout until you invest more or reach an impossible rollover. Another possibility is that you will be asked to pay non-existing fees and taxes to release your funds.

Don’t fall for such a scam since you never need to pay to get your own money back. Just stay away from scammers such as DeltaStream.

Also remember the names of the LTMTrade, Qicmarket Group and FXORO trading scams and avoid them at all costs! Moreover, always check the background of online trading companies before investing!

Scammed by DeltaStream? – Tell Us Your Story

If you fall for DeltaStream’s scam or become a victim of any similar online fraud, let us know. There’s a potential solution to your problem, and it’s called a chargeback.

But What Is A Chargeback?

A chargeback is a way for your bank to reverse the fraudulent transaction in case you have been scammed. Since the process requires submitting evidence, we advise you to get assistance.

Contact us via online chat to let us know what happened, and book a free consultation with our specialists. Let’s fight for what’s rightfully yours!

What Is DeltaStream?

DeltaStream is an online Forex and CFD trading provider without a license.

Is DeltaStream A Scam Broker?

Yes, DeltaStream is a fraudulent trading brokerage without a proper license.

Is DeltaStream Regulated?

Is DeltaStream Regulated?

No, DeltaStream is not regulated and provides financial services illegally.

Win Option broker is one of those that expect you to blindly trust them. Even at first glance, you realize that there is not a single reason to trust them.

Not to mention that digging deeper just reveals more and more flaws. Still, their advertisement might be something that catches traders off guard. Stay tuned with our Win Option review to find all the warning signs.

 Legal info: Win Option legit or scam

WinOption broker has quite a poorly designed website. Every button leads to the home page. Therefore, you can’t check any of the documents about the broker. Nevertheless, they don’t reveal any ownership or address information. Not to mention regulations that are quite important.

We checked for WinOption.com in the registers of FCA, BaFin, ASIC and CFTC. Yet, none of those held any information about this broker. Consequently, you can forget about any protection from them. To learn more about what key features you should check with a broker read our RealFXPro and Roldex Pro reviews.

Who are Win Option clients/victims?

Win Option scam is spread worldwide.  Even though the patterns are quite strange. Anyway, since 2023 they are mainly scamming traders from:

• Belgium
• India
• United States

If you were a victim of this broker or any other feel free to share it with us. Our specialized team can guide you through the refund process. You just have to book a free consultation.

Leverage, Commissions, Spreads, Fees and Taxes

This anonymous company offers even more anonymous trading conditions. The only transparent information is regarding leverage. In this case, the company offers 1:1000 which is highly dangerous. Especially without crucial negative balance protection.

Besides leverage, nothing else is transparent with the Win Option scam broker. Therefore, it should be avoided at all costs.

         Bonuses

Important to remember the whole time is that this company is fraudulent. Another confirmation is the welcome bonus they are offering.

In general, bonuses come with malicious clauses where you have to make insanely high minimum trading volume. Don’t fall for it because you won’t be able to make any withdrawals.

Win Option Trading Features

The company has quite poor instruments offer. On top of that, they promote a very shady proprietary platform.

However, the funniest thing about this broker is that they claim to be an award-winning company. Yet, nothing matches those statements.

        Mobile Trading App

Another key warning sign is the company’s trading software. They promote proprietary app which is available for mobile devices allegedly. Thus, you can’t even register with the company to test it out.

         Is Win Option trading legit?

Definitely not. The company is completely anonymous. After all, they are not regulated anywhere. It’s even questionable if they are registered as the company at all.

         Available Trading Assets

Trading instruments are nothing spectacular. In fact, nothing you can’t find with a regulated broker. Thus with way better conditions. You can choose from:

• Forex            (GBP/USD, EUR/JPY)
• Commodities (gold, platinum)
• Stocks          (Tesla, Meta)

         Account Types and Funding Methods

Win Option broker doesn’t reveal information about account types. The only visible information is regarding the minimum deposit which starts at $10. As for the funding methods, they are using icons of:

• Visa/Master card
• WMZ
• AdvCash
• Skrill
• PerfectMoney
• Neteller

Have in mind that only with cards you can have a chargeback.

        Demo Account

The same thing as with mobile apps comes with the demo account. A dysfunctional website doesn’t let you do anything there. Therefore, it’s quite unacceptable even for beginners.

         Education

Generally speaking, you can’t expect world-class education from a broker that can’t build its own website. Nevertheless, they don’t even provide any educational package. If you combine their poor offer with missing regulations you realize why nobody should invest here.

Win Option Withdrawal

Considering their shady funding methods it’s highly unlikely that you can withdraw any money. Primarily because of the non-transparent approach and missing regulations. Also, the company provides bonuses to traders that will lead to issues with withdrawals.

But don’t be surprised if you face other issues, such as inadequate verification documents or non-existent fees and taxes.

Customer Support

The broker tries to present itself as present on many social media platforms. However, those accounts don’t exist. In addition to that, the company doesn’t reveal any other contact information. Such as phone numbers, e-mails or live chat options.

It would be really inappropriate to compare this broker to any other legitimate Tier 1 licensed company. Especially in the era where customer experience is the main priority.

Key Information To Consider About Win Option

This Win Option Review showed you all the reasons why not to trust this broker. Primarily because of missing regulations and lack of transparency. Also, they don’t provide transparent trading conditions and access to the trading platform. Lastly, you don’t have any option to contact the broker. Which all leads to the conclusion that they are nothing but a scam.

In general, you should always choose licensed brokers. But if you were already caught in their scamming net, feel free to contact us. Our specialized team can guide you through the fund recovery procedure. To get the advice you just have to book a consultation. Most importantly, it’s free of charge and non-obligatory. Contact us now and start your refund process!

FAQ Section

How Long Does It Take To Withdraw Money From Win Option?

Without a transparent withdrawal policy and regulations most likely you will never get a withdrawal from this scam broker.

Is Win Option Trading Legit?

No. The company doesn’t reveal ownership or address information. On top of that, it’s not licensed for their services.

What Is The Minimum Deposit For Win Option?

The minimum deposit advertised by the broker starts at $10. If were the victim of a scam, don’t hesitate to reach out to our recovery team.

Once we noticed Electrum24 and their website, the broker looked ideally. Nice design, UK-based, WhatsApp contact. The website is operating since 2017. What more could you ask from a brokerage? Oh, wait! A regulation. That’s why we were digging about Electrum24 in our review. Here’s what we found.

Electrum24 Regulation and Security

After a more careful examination of the Electrum24 website, we’ve noticed that the company owner is not listed anywhere. Sounds a bit suspicious for a UK brokerage. Another thing, despite the headquarters, the broker didn’t list any regulations. Any brokerage based in the UK needs FCA approval for conducting financial services. This regulation means having a deposit of over 700,000 GBP with a regulator that will be used to refund clients in case of a scam.

Since the broker is clearly not regulated, we’ve searched further. Who Electrum 24 actually is?

Warnings From Financial Regulators

The broker has been blacklisted by the FCA instead of being regulated. According to the FCA, the broker is a clone firm of the FCA regulated company Electrum Capital Limited, listed on the address the false brokerage provided.

Funds Withdrawal Issues with Electrum24

Since many clients are reporting withdrawal issues with Electrum24, we’ve checked these allegations.

For a start, we need to report that the company is using a web trader. This is the least secure platform of all. Any competitive broker on the market should offer at least one version of the MetaTrader, either MT4 or MT5.

Another thing we need to say, the website doesn’t function properly, and we cannot verify the diversity of trading instruments. We could confirm that the leverage goes up to 1:500 while the lot size for the Black account is 1.5 lots. That’s a tremendous high comparing the fact that most regulated brokers allow you to open a position with a 0.01 lot.

The minimum deposit is 500 EUR which is again too high compared to regulated brokerages. The payment methods are not listed anywhere, neither are fees or commissions you need to pay.

Hence, having withdrawal issues does not surprise us. Be aware of all the facts when opening an account with Electrum24.com.

Scammed by Electrum24?

If you were misled or scammed by Electrum24, do not hesitate to report it. There were many people in your situation who successfully recovered their funds.

Do not hesitate more, file a complaint, and request a chargeback.

But what is a chargeback? It’s a process of refunding your card in case you were a victim of an online scam.

Contact our support team now and get guidance on how to file a dispute!

What is Electrum24?

Electrum24 is an online trading brokerage with no regulation.

Is Electrum24 a scam?

Electrum24 is a broker with no regulation, blacklisted by the UK FCA.

Is Electrum24 regulated?

Electrum24 is not regulated by any authority for providing financial services.

With their alleged high level of financial expertise and professionalism, the masterminds behind this seemingly alluring scheme will have you believe there’s no risk of loss.

Continuous profits and high returns on investments are everything that awaits you here. The only obstacle to a bright financial future promoted on this shady site is the fact that they have no valid license to sell and offer financial services online. 

How exactly this sham unfolds and what to do in case you fall victim to it is what our Astro Invest review discusses.

Invisible to Law

While legitimate investment firms in the US are subject to the regulatory oversight of CFTC and NFA, this fraudulent scheme isn’t. That is apparent if you take a look at the NFA database of regulated members. 

To make matters worse, this anonymous firm also doesn’t exist in any other register, such as FCA, BaFin, CySEC, ASIC and others. Not only are they fully unregulated and operate illegally, but they do not exist as a business conduct outside of the internet at all. 

Suspicious schemes like the Astro Invest scam mostly target Forex novices, but they’re certainly not alone. The same intentions are apparent from the evident fraudulent behavior displayed by Integra Asset Management, so make sure you decline any offers from these firms.

How Cons Appeal to Public

Pretty much everything about the firm is a lie from the get-go, such as the company being in business as early as 2015.As you may see from WhoIs, the astroinvest.org domain did not exist prior to 2023.

Bar Facebook, the firm does not have any social profiles, but uses various affiliates that do the advertising instead. These profiles contain the usual propaganda about quick profits allegedly generated through some AI software. Many of the victims live in these nations:

• Malaysia
• Singapore
• United States
• United Kingdom

The Astro Invest broker scheme functions as a typical scam call center. The “account managers”, or better known as boiler room agents, constantly pester new marks to invest. They use a premade script to get as much money as possible before disappearing.

Fake Client Ratings

Nearly all of the Astro Invest reviews you find on platforms like TrustPilot are total fakes, created by review seller networks. You can recognize them by how repetitive they are, and the fact that they don’t contain any relevant piece of information.

The majority of other fraudsters, Senior Wealth Partners for instance, use the exact same strategy to appear legit. If you believe you’ve become a victim of financial fraud, contact our legal experts.

Unclear Trading Terms

One of the alarming details of the shady offer found on the site of the Astro Invest Forex fraud is the fact that legal documents are missing. Instead of providing clear fee structure, pricings and trading conditions, these fraudsters have carefully hidden all of the crucial trading information.

It’s simply impossible that the company doesn’t charge anything for their services, so please do not trust claims that try to assure you about everything being free, including all the services offered.

Referral Commission Bait

Con artists are often employing the referral scheme or better known Ponzi campaign to gather new victims. By promising high commissions and cash incentives for every affiliated new user, the existing victims engage in supplying the scammers with new blood. In this case, the profit percentage from referrals is 5%.

Expectedly Shabby Trading Environment

Whenever we come across a scam company, we don’t expect much in the way of trading amenities. The Astro Invest trading service only offers some semblance of investing utilities that keep you wasting money. Let’s have a look at how this works, so you can recognise it in the future.

Trading Doesn’t Happen

Just because the website represents an investment company that manages clients’ funds and uses automated trading systems to acquire profit doesn’t give them the right to lie about software. 

The promised super accurate AI-based trading solution is not provided and investors have zero insight into what is going on with their funds. Usually, this sort of company provides some sort of a terminal for the investors to oversee the trading process and how their capital is allocated. That, however, is not allowed on this portal. 

Irregularities With Investment Instruments

This investment fraud advertises a few different methods through which you can invest. There’s a large discrepancy, however, as to which ones are actually supported.

The website claims to offer investment in Forex, Cryptocurrency and Binary options, but the Facebook page cites other economic areas, particularly real estate.

Should You Buy This Investment Plan?

There’s several types of investment options presented on the site, depending on how much money potential victims are willing to cough up. 

Each of the bundles promise unrealistically high returns with not a single proof of how the profit is actually made. To spice up the deal, they’ve even declared to have all the payouts handled automatically. Can’t get any less realistic than that.

Take a look at the Astro Invest minimum deposit requirements:

• BEGINNER – $500 – 5% ROI
• PRO – $2,000 – 10% ROI
• EXPERT – $10,000 – 15% ROI
• MASTER – $50,000 – 20% ROI

Fake Automatic Payouts

The entirety of the monetary transactions on this platform are conducted via cryptocurrencies. As soon as you sign up, you will be urged to start depositing and you’ll be spammed with wallet addresses where you’re expected to send funds to. 

As risky as crypto transfers are, the additional obstacle is the fact that the legal papers are missing, especially the Astro Invest withdrawal policy. Due to that and all the reasons mentioned above, there’s no rational explanation as to why you’d trust their words about the free, automatic payouts.

Rude Support Crew

Genuinely surprised with the quick response, we quickly managed to establish contact with the live chat agents. The communication was made difficult however, due to the agents being pushy and borderline unpleasant. Clients that haven’t created an Astro Invest login can only use the whatsapp contact and the email for correspondence.

Lost Money On a Scam? Contact Our Experts!

Protecting yourself from various financial swindlers is not always easy. We offer a solution for those that have already lost money to various scams, including fake investment firms.

Contact our expert team via the live chat, and start working on recovering your funds. Don’t delay – we are available 24/7, and our first consultation is free of charge.

FAQ Section

What is Astro Invest?

It is a fraudulent organization posing as an investment firm to more easily steal from their victims.

Is Astro Invest Legit?

No, the company is completely illicit. They are not registered or licensed to provide any of their services.

How to Get Money Back From a Scam Broker?

Gather all the information you can, and contact our specialists. With our help, you can get your lost money reimbursed.

MarketsOcta is an online scheme trying to pass as a clone firm of a CySEC-regulated brokerage. While researching, we connected this brand to at least two more fraudulent firms. Read our review and find out all the information.

What About MarketsOcta Regulation?

MarketsOcta claims to have a CySEC license number 372/18. And upon checking, we saw a resemblance. The license belongs to Octa Markets Cyprus Ltd, a legitimate firm with the domain octafx.eu and octamarkets.eu. Since MarketsOcta is a new domain registered in 2022, we assume every similarity is intentional to mislead customers.

Also, the Terms and Conditions imply that the brand is owned by Markets Octa Ltd, based in Saint Vincent and the Grenadines. However, upon checking the FSA, we figured that even the business name was false and not registered.

Why Is It Important For A Broker To Be Licensed?

Brokers covered by the Tier1 license, such as CySEC, ensure a high level of funds safety. Also, the ICF compensation fund covers the money, and the broker will be penalized if there’s an incident.

MarketsOcta is not actually regulated, so there’s no safety of funds.

Also, we want to invite you to read our recently updated reviews of fraudulent brokers AllCryptoMarkets, Battle Trade and Capartners LTD. Be careful with these brokers.

So Is MarketsOcta a Decent Broker or a Scam?

MarketsOcta is a fraudulent trading firm. The company claims to be regulated by CySEC, but it ended up on its blacklist. In fact, it’s an offshore scheme operating from Saint Vincent and the Grenadines.

MarketsOcta Warning From Financial Regulator CySEC

Once clients filed a complaint with CySEC about the MarketsOcta scam, the regulatory body figured that the brokerage was misusing their name and license. Thus, there’s an official warning against marketsocta.com as a fraudulent domain.

Traders Review of MarketsOcta

MarketsOcta is a fraudulent trading firm. Anyone claiming differently is just a broker’s employee paid to write something good. Likewise, the website consumer index is one, and the firm is marked as untrustworthy.

And for good reason. Thus, starting from a false license number to a fake company owner, there’s nothing good you can get from investing with the broker MarketsOcta.

What Platforms Does MarketsOcta Offer? – Available Trade Software

MarketsOcta offers a WebTrader and MT4. 

Usually, we would praise the firm for providing MetaTrader, but there is a significant issue here. The owner of MarketsOcta broker is Levictus Ltd.

Levictus Ltd is a fraudulent company from the Marshall Islands, related to at least two other scheme firms – SwissFXM and Olimpuscoin, both allegedly based in the Netherlands but without any financial regulations. Thus, your funds are not safe as they’re exposed to a third party.

As a matter of fact, WebTrader itself is less secure and less reliable investment software.

All About MarketsOcta Accounts

You can choose among 5 MarketsOcta account types:

• Micro – 2,000 EUR
• Standard – 10,000 EUR
• Pro – 50,000 EUR
• Premium – 100,000 EUR
• VIP – 200,000 EUR

The initial deposit is 250 EUR and you get no perks. Also, If you upgrade to any of these account types, you will have access to lower commissions, more trading instruments, and different leverage.

MarketsOcta Broker – Countries Of Service

According to our research, broker mainly targets European residents from:

• Greece
• Italy
• Albania
• Spain
• Germany

MarketsOcta Range of Trading Instruments & Markets

MarketsOcta provides investors with access to all 5 major markets, including:

• Currency pairs – EUR/USD, GBP/USD, USD/JPY
• Commodities – natural gas, crude oil, silver
• Indices – NASDAQ, FTSE100, DAX30
• Shares – Amazon, Google, Apple
• Cryptocurrencies – BTC, ETH, XRP

In the meantime, avoid scammers like WealthsailingForex, FavorTrades and Uni-Co. If possible, tell us about your scam experience.

Bonuses And Promotions – As A Method Of Fraud

The company offers a 50% welcome bonus, 3 EUR cash back per lot, and refer a friend bonus. All of these are later used to prevent you from withdrawals. While the employees will claim it’s because the firm is generous and wants to participate in the market with you, the truth lies in the malicious Bonus Policy.

According to it, you cannot request a withdrawal before reaching the minimum trading volume. In addition the minimum volume is equal to $4 million per every $100 you have received.

MarketsCore Minimum Deposit

The broker requests a typical initial deposit of 250 EUR. However, this deposit gives no perks. As you can see, the minimum account starts at 2,000 EUR, so you will quickly be prompted to upgrade or be left on your own. That is to say, there’s no reason to accept these terms. With regulated brokers, you will get education and support regardless of the initial deposit.

MarketsOcta Trading Conditions

The main issue is the lack of trading conditions. For instance, there’s nothing about the spread, nor can we figure it out without a Demo account.

High Leverage

On the other hand, leverage is listed and incredibly high. While CySEC-regulated firms can offer up to 1:30 for the Forex market, MarketsOcta enables leverage of up to 1:1000. And that’s another proof that this broker is illicit.

MarketsOcta Deposit, Withdrawal Methods, and Fees

The company accepts the following payment methods:

• Wire transfer
• Credit/debit card
• E-wallet
• Crypto

Also, e-wallets are not specified and we got no information upon choosing this payment method. However, the safest option is your credit card, as you’re entitled to a chargeback within 540 days.

Scammed by MarketsOcta Broker? – Let Us Hear Your Story

If you are scammed by MarketsOcta broker, let us know. Book a free consultation with our chargeback specialists, and let’s evaluate your case.

But What Is A Chargeback?

This is a way for your bank to recover stolen funds directly from the merchant. Contact us via online chat for more details about this investment firm and your refund options.

What Is MarketsOcta?

MarketsOcta is an unregulated Forex and CFD trading provider.

Is MarketsOcta a Scam Broker?

Absolutely, the broker is a scam. Cyprus regulator CySec blacklisted MarketsOcta broker.

Is MarketsOcta Available in the United States or the UK?

The company operates in the UK but not in the US.

Does MarketsOcta Offer a Demo Account?

No, MarketsOcta doesn’t offer a Demo account.

Every once in a while, a less scrupulous web developer will create a template for a fraudulent platform. This will then serve as a base building block for a multitude of online hoaxes, until it is superseded by the next one.

Our YLCHAT review will focus on a relatively new template that has been making the rounds recently. Learn how to recognize this pattern of online fraud in our article.

Not A Real Company

As we’ve already mentioned, the ylchat.com website was created using a pre-made template. It is constructed to confuse visitors and obfuscate corporate information. We’ve already encountered this type before, and we can navigate it with confidence this time. We found out that, in this case, the forex platform is purported to be the property of YLCHAT FOREX EXCHANGE LTD.

The holding company is allegedly registered in the UK and the US. However, if you check with Companies House and the SEC, you’ll never get any results. This tells us that we’re not dealing with a legitimately registered business.

Debunking the Regulation Claims

As a broker-dealer operating from the US and the UK, the YLCHAT trading service should be one of the most heavily regulated companies on the planet. Some of the regulatory conditions include segregated bank accounts and compensation schemes. Leverage is limited to 1:30 and 1:50 in the UK and US, respectively. The UK additionally imposes a negative balance protection plan.

Now, it’s easy enough to check the UK FCA and the US NFA registries and find out if a firm is a licensed entity. The swindlers also claim to have an MSB registration in the US, which is a blatant lie as well.

Seeing Through the Deceit

This fraudulent scheme is using an old and tested method to deceive their clients. It operates a boiler room with numerous agents who work mostly by phone and online chat. These agents contact each mark individually, and pitch a get-rich-quick scheme. This usually includes some high overnight profit potential, allegedly identified by finance experts. The agents act as account managers and will make this profit come to pass – all you need to do is cough up the cash.

Of course, it’s all a ruse to part you from your money. If this story sounds familiar to you, contact our legal team to start a fund recovery procedure.

Younger Than You Think

While the website says that the firm has been in business since 2000, the WhoIs register clearly shows that ylchat.com was created in 2021. Furthermore, it was listed as a site for sale until late 2024. Much of the website traffic originates in these areas:

• United Kingdom
• Australia
• Canada

The site itself doesn’t have many visitors, which is one of the reasons for the lack of any YLCHAT reviews.

Available Account Types

The broker does not offer any selection when it comes to different account types. There is a Real Fund Account (yes, that’s what they call it), and a Demo Account.

The demo is available with $500,000 in virtual currency which is more than enough for evaluation. However, in most cases, the demo with these illicit companies does not correspond with the actual market conditions. This is a strategy XTrader uses to encourage larger deposits.

Overview of the Trading Environment

The YLCHAT app is your bare-bones WebTrader. It works through charts and pricing imported from TradingView. As for the functionality, you get the basic asset selector, buy and sell orders, as well as take profit and stop loss functions.

Investors should be aware that although the app may seem sophisticated, it serves to advance the fraudsters’ agenda. Central Markets Invest and many other cons purposely edit the market data shown in the app to manipulate their marks.

Available Trading Assets

It’s difficult to talk about trading instruments when we know that the company is not licensed to participate in the securities markets. Still, the con artists do emulate trading in their WebTrader.

Here are a few examples of what is shown in the app:

• Forex – EUR/USD, AUD/NZD, GBP/CHF
• Crypto to FIAT pairs – BTC/USD, SOL/USD, DOGE/USD
• Indices – S&P 500, Nikkei, Nasdaq
• Commodities – Natural gas, Soybean, Gold

Nobody Mentions Trading Fees

The YLCHAT Forex trading scheme doesn’t disclose any information pertaining to fees or other costs. Still, we have managed to dig up some info from the trading floor. In it, we see that the maximum leverage is set at 1:500, many times over the legal limit. Spreads, which you’d expect to see with your buy and sell orders, are never stated, nor are the swaps or commissions.

The website doesn’t contain a Terms and Conditions document, so you won’t be able to find any info on fees either. This lack of transparency is another violation of the regulatory conditions.

Problems With Payouts

Funding is not openly discussed on the website, not even in the FAQs section. Again, we had to refer to the trading app to learn anything about financial channels.

The client dashboard contains separate forms for YLCHAT withdrawals and deposits. The methods that are made available are bank wire transfers and direct crypto wallet transfers.

From the dashboard, it becomes clear that the firm does not have automatic payment processing. Clients are urged to screenshot any transactions and send the picture file to the staff.

I Have Lost Money To Scammers, What Now?

After a thorough analysis, the YLCHAT legit status hardly remains an open question. It’s a horrible online scam intended to steal your hard-earned money.

The stolen money did not disappear into thin air, and it is possible to recover. You can rely on the help from our experts in this matter. We are available around the clock for your convenience, so don’t delay – book a free initial consultation as soon as possible!

FAQ Section

How Can I Recover Stolen Crypto?

Stolen cryptocurrencies can be recovered through the use of specialized blockchain analysis software. Book a consultation with our recovery experts to learn more.

This scam brokerage stalks its prey while hiding behind a defunct legal entity. Everything you see on the con’s website, from trading apps to account types and instruments, is just a charade to keep the victims complacent.

The trades may be fake, but the risk of loss is very much real. Find out more about online fraud in our Ecofix review.

Liquidated Parent Company

Finding anything about the Ecofix broker was a difficult task. For a company that claims to operate from Europe, this is almost unheard of. This is because European regulators, particularly those that operate under the strict MiFID ruleset, must be completely transparent.

A single clause in the Terms and Conditions document clearly mentions Estonian governing law as having legal precedent. The next step was to check with the Estonian authorities. The only clue about the company’s name is a logo that says Ecofix Finance Investment. There is a company named Ecofix OÜ in the E-Business register, but it is currently marked as in liquidation, pending deletion.

Never Had a Forex License

The only company that we’ve been able to remotely match with is closed down. But was Ecofix legit at any point in time? According to the Estonian main financial regulator, an agency called FI, the answer is no.

When dealing with an online broker, regulation is the most important part of the deal. MiFID-compliant nations impose client safeguards that include negative balance protection, segregated bank accounts, and compensation funds.

Dealing with an unlicensed company means you can’t benefit from any of these. Additionally, your money is more likely to end up stolen.

How Fraud Works

There’s no way an illegal company can use an advert in the newspaper to attract new clients. Instead, fake brokers like this one or Rommode operate a scam call center instead.

These boiler rooms, as they are called, employ persuasive people to basically harass people and pressure them into investing. Agents will contact their mark directly, usually by phone, and try to sell their fake expertise.

If the victim shows interest, the agents start asking for more money, usually by citing various benefits or higher profit margins. 

Younger Than They Claim

The con artists claim that their company has over 10 years on the market. A quick check with the WhoIs database, though, and we see that the ecofix.io domain was actually launched in November 2024. The hoax has been around for a short enough time that there are no Ecofix reviews yet. It seems that the cons are particularly fond of these areas:

• France
• Belgium
• United States
• Canada

If you or someone you know has been a victim of an online scam like this one or HiBT, feel free to contact our legal experts for help.

Poorly Defined Trading Accounts

Looking at the selection of account types, we see a tiered structure similar to that of other internet scams. The names aren’t exactly imaginative:

• Bronze
• Silver
• Gold

In this case, there is no information about different benefits or costs. One thing is common for all of them, though: They come paired with free management software. Remember—these account managers are the same boiler room agents who solicit the service. Their financial gain relies solely on the total loss of your investment!

Deceptive Software Names

One of the things that this fake broker seems really proud of is their two distinct trading applications. Golly, we thought, a schemer with actual trading software! This excitement quickly turned into another disappointment, though. The main Ecofix app is your basic WebTrader that uses the free TradingView charts to track pricing.

The other app is MT4, but wait – this is not the MetaQuotes MetaTrader 4. No, instead, the MT4 is, in this case, abbreviated to MobileTrader4, and it’s identical to WebTrader but running on a mobile device browser.

Selection of Tradable Instruments

The application might be ramshackle, but it does actually contain some trading assets. Still, the company is not licensed and does not have actual market access.

All of the most popular groups are available:

• Forex – EUR/USD, USD/JPY, CHF/GBP
• Crypto – BTC, ETH, XRP
• Stocks – BASF, LLOYDS, CISCO
• Commodities – Brent, Cocoa, Wheat
• Metals – Silver, Gold, Platinum
• Indices – S&P 500, Nikkei, Hang Seng

Trading Terms – Leverage and Fees

We can see that the swindlers are trying to appear transparent in some cases, but only for the things that concern them directly. For instance, you won’t find any trading information such as spreads, swaps or commissions.

Withdrawal fees, however, are extremely precisely defined. For instance, payouts through bank wires are billed 50€, and 25€ for bank cards or ePayments. There is an additional processing fee of 7€ and a levy of 10% for accounts that did not execute 200 trades. Additional transaction fees are also present, set at 50€.

The leverage ratio is set at 1:200, much above the EU maximum of 1:30. This ensures that nobody can make 200 trades on a single deposit.

Problems With Payouts

There is a great disparity of information when it comes to financial channels. The website advertises bank cards and bank wires, while the withdrawal policy adds ePayments as well. The client dashboard is, again, a different story. In it, users can’t even decide on the funding and payout channels, as the form that should deal with these does not contain such information.

The minimum payout amount is set at 250€ for wires and 100€ for other methods. Ecofix’s withdrawal policy may be well-defined, but swindlers will not consider it legally binding. Many people have already complained about the company denying withdrawals. If you’ve had any such experience, feel free to get in touch with our chargeback experts.

We Can Help You Get Your Money Back!

This faux broker is just another one of tens of thousands of con schemes on the internet. Everything about this company is illegal, from its alleged owner to the unlicensed service they provide.

The con-circle that runs the whole charade has taken steps to maintain anonymity, but that doesn’t mean they can get away with theft. With the help of our recovery experts, it is still possible to recover the lost funds. You may reach out via live chat or book a free consultation at any time.

FAQ

Who Owns The Ecofix Broker?

The alleged parent firm, Ecofix OÜ, is in liquidation. The con artists are likely using this company as a quasi-legal basis for their fraudulent scheme.

How To Recover Money From Scammers?

Depending on the payment methods utilized, the recovery procedure varies. Book a consultation with our experts to learn more.

One of the first details that could be noticed with this company is that security is taken seriously. Yet, they don’t reveal any legal information that would indicate ownership, addresses, or some legitimate contact options.

Fairly, that’s enough to prove the company is misleading traders from the beginning. So, what can we expect? Let’s find out in this unbiased InvestoSea review.

Legal info: Is InvestoSea Legit or Scam?

To ensure that nothing on the platform is manipulated, traders need to trade with licensed brokerages. But it appears InvestoSea is not one of those. If you check the registeres of top-tier regulators worldwide, such as FCA, BaFin, SEC, or similar, you won’t find this broker.

Even though they might provide encryption and security measures for accessing trading accounts, there are none for your money. To get access to compensation schemes and fully secured funds with top-tier banks, you’ll have to find another trading firm. If you don’t trust us, then check the warnings from trusted European authorities, such as FSMA, CNMV, CONSOB, and IOSCO.

Who are InvestoSea’s Victims?

The worst of all is that the company was registered in 2023 according to their domain age. In less than one year of existence, they were exposed. Also, website analytics show that besides traders from countries regulated by the authorities mentioned above, they also target:

•  United States
• Canada
• United Kingdom

Since the InvestoSea reviews practically don’t exist, we invite you to break the ice. Let us know your experience with this broker in the comments below. Ultimately, if there are any issues, especially regarding withdrawals, our experts can advise you about further steps. 

Also, if you are a fan of prop trading, make sure not to skip our Apex Trader Funding review.

Leverage, Commissions, Spreads, Fees and Taxes

When it comes to trading conditions, you will realize more tricks coming from this broker. Firstly, to get closer to attractive spreads, traders must deposit at least $50,000. Anything before that will be a pure rip-off with spreads. Not to mention, commissions and fees are not disclosed anywhere. But at least the company mentions swap fee discounts. Fairly, 50% of the over-expensive fee is still expensive.

Secondly, and even more importantly, there’s a high leverage of up to 1:100 offered. Yet, authorities in the US and Canada allow a maximum of 1:50, while in the UK, it’s even lower, at 1:30. So, that’s another sign that this company is ruthlessly scamming you.

Bonuses

Another trick you can expect comes together with the company’s bonus offer. Bonuses often sound good to inexperienced traders. Yet, they don’t realize if they accept them, withdrawals are impossible. 

Every time you get a $200 bonus, you must reach 50 standard lots in trading volume. Before that, withdrawals are not possible. Keep in mind that a standard lot is $100k.

InvestoSea Trading Features

Even though the revolutionary InvestoSea app is advertised, there are literally zero advanced features available. To be fair, the only notable option might be the VPS, which is also available only if you deposit $50k. 

To start recognizing more and more trading traps, check also our AiFX Markets review.

Trading Platforms Available

Once traders complete the InvestoSea login procedure, they should be prepared for disappointment. Instead of trusted third-party platform options, the company offers primarily web-trader. 

Also, you can download the app for desktop use, but only from their suspicious website. Keep in mind that those files might include malware for stealing personal information, such as banking details.

Available Trading Assets

Tradeable assets with this broker won’t make a big difference to traders. After all, it’s all fictive. However, opening an InvestoSea account will give you access to:

• Forex – USD/NZD, EUR/ZAR
• Indices – NASDAQ, DowJones
• Commodities – gold, silver
• Shares – Netflix, BMW
• Cryptos – ETH, XRM

Account Types

With four account types offered on the InvestoSea platform and progressively higher deposits required, you can quickly realize what to expect. That’s a lot of pressure to upgrade your accounts rapidly. 

Anyway, the options are: 

• Bronze – $250
• Silver – $2.500
• Gold – $10.000
• Platinum – $50.000

Mobile Trading App

Another suspicious detail with InvestoSea Forex company is its mobile app. Instead of downloading options from the App Store or Play Store, you must get them from the company’s website. Yet, the same as with desktop apps, the files might be corrupted. So, watch out what you’re doing.

Demo Account

One of the easiest ways to expose a company’s flaws is through a demo account. But, of course, demo accounts are not on the table when a company wants to hide those flaws. That’s the case with this broker as well.

Education

When it comes to proper trading education, traders shouldn’t be looking for it with unregulated brokers. 

However, this company doesn’t even offer any. But be sure their fake dedicated account managers will try to teach you how to trade properly.

InvestoSea Withdrawal

The company smartly mentions that InvestoSea withdrawal doesn’t include any fees if done by card. However, for all other methods, they don’t mention anything. Therefore, watch out for a non-existent fees trap.

Also, the company mentions they process withdrawals within the first 30 days of opening the account. After that, it all becomes a mystery. If you still think you will get any withdrawals from this broker, read this review again.

Customer Support

Another reason to avoid the InvestoSea scam broker can be found on their contact page. There is only an email address and web-contact form available, without operating hours disclosed. Such support surely doesn’t represent reliability.

Key Information To Consider About InvestoSea

Whatever you get in the offer from this brokerage, know it’s all fake. Primarily because they are not regulated and can manipulate traders as much as they like. Also, there’s a highly suspicious trading platform, hidden fees, and high leverage. Not to mention zero funds protection features.

Luckily, refund options are available to combat bogus scammers. Send us a message right away to book a free consultation with our chargeback team today!

FAQ Section

What is InvestoSea?

InvestoSea is an FX and CFD trading company operating since 2023 from an unknown location.

Is InvestoSea Legit?

Definitely not. Without regulations and with multiple warnings, starting from FSMA, CNMV, and CONSOB, it’s clear what this company has been doing.

Who Owns InvestoSea Broker?

InvestoSea ownership is anonymous. With this in mind, we suggest you contact our refund specialists to start the recovery process on time.

Countless branches, a range of services, and several warnings, as well. This firm will, at the same time, impress and confuse you. What we certainly don’t recommend is doing any kind of business with them. 

Read more about how this firm got into regulatory scrutiny and what you can do to recover stolen assets.

 People Operating the Site

It may seem like the Belfrics blockchain services provider is transparent about their history and ownership. However, don’t be deceived. While several important people like the CEO and other founders are mentioned, there are no links to their social networks. 

We simply couldn’t run these people through any database and were forced to learn about them from other sources. Praveen Kumar is introduced as the company’s leader, but this person is extremely little known online besides for his X account that’s been inactive for more than 2 years. We also found Maya Kumar on Crunchbase as the company’s co-founder, but nothing about this individual is known.

Warnings From Authorities

Allegedly incorporated in Malaysia in 2014, you’d expect the Belfrics Malaysia branch to be fully licensed and legit. However, that is not the case. 

Not only that this platform hasn’t obtained a license, but the leading regulatory body in that country has also blacklisted them. MAS has included this business on its list of unapproved digital asset service providers.

LFSA (Labuan) has restricted Belfrics International Limited’s activities as a money broker because it is not compliant with regulatory standards and/or lacks minimum capital.

Business Targets

The business physically operates out of regulatory gray zones like India, Tanzania, Nigeria, and Kenya, but mostly targets investors from the following nations:

• Canada
• Netherlands
• United Kingdom
• Australia

Although the company claims to have existed since 2014, we see that its main domain, belfricsgroup.com, has only been operational since 2019. If you find yourself unable to cash in your profits on this crypto portal, please don’t hesitate to get in touch with our recovery experts.

Revealing Fraudulent Tactics

The fraudulent group that operates the Belfrics scam is divided into several branches, each having control over a separate domain. The predominant strategy of Southeast Asian con schemes is so-called Pig Butchering. It is a romance con, where a boiler room agent pretends to have romantic interest in the target.

Agents lurk on dating sites like Badoo or Tinder and look for victims. If someone shows interest, the agents will start pitching a fake forex platform as a means to “ensure the financial future of the relationship.”

To make the platform seem popular, tricksters also run various social profiles. These include company accounts on Facebook, X, and LinkedIn, as well as those of numerous scam promoters.

Broken Platform Links

A proprietary trading app, which users are directed to download in order to invest and trade, is not currently available. Both links for the Android and iOS versions of the software are inactive, so clicking them leads to nowhere.

If you want to explore the web app, you will have to join the portal first. Alas, clicking that link leads to belfrics.io. This page is entirely in Indonesian and advertises betting and online lottery!

Overview of Trading Fees

To further the idea of legitimacy, the structure of Belfrics’ fees is outlined in a somewhat transparent fashion. Maker and Taker fees are 0.5% and 1% respectively. Deposits do not incur any fee but the withdrawals incur a fee of $5, albeit in the countervalue of the withdrawn cryptocurrency.

Unfortunately, without a demo account or access to an actual trading platform, it was impossible to verify any of these claims. Hidden or deceptive fee structures are a staple of other hoax platforms like Winton Investment.

Payouts Trigger Identity Theft

As a cryptocurrency exchange or an entity that mimics one, Belfrics’ withdrawal process is available through crypto transfers. Deposits and withdrawals are handled at intervals, with cutoff times listed on the site.

One of the things that this scheme has in common with other similar sites like Ordinals Wallet is the idea of verification levels. It is an intrusive process masked as a regular KYC procedure.

The platform imposes payment and payout limits on its clients. To withdraw money, clients must upload ever more intrusive information about their personal lives. This ultimately allows cybercriminals to steal the identities of high-paying clients more effectively.

Unreachable Customer Support

Client support isn’t what you’d call easily accessible. Although each of the company branches has its own help desk, all email messages end up in the same inbox.

This is more than strange, considering that the company claims to have numerous clients who speak different languages. In addition to this, there is an online form option that doesn’t function as a prompt support option.

The Belfrics reviews, although few in number, complain about the company stonewalling their clients. According to them, nobody answers the phone either, so you’re left on your own.

Got Defrauded? We Can Help With Recovery!

As experienced scam investigators, our article has answered the question of Belfrics’ legit status pretty thoroughly. The platform is a global danger, targeting rookie investors from around the world. Every website this fraudulent group operates serves only to steal from their clients.

Do not trust anything these cybercriminals tell you, as the company will never let you withdraw your funds. To get the stolen money back, you need to start a recovery procedure. Our experts can help, with whom you can book a free consultation at any time.

FAQ

Where Does Belfrics Have Branch Offices?

This fraudulent entity claims to operate branches in Malaysia, India, Kenya, Tanzania, Nigeria, Singapore, and UAE. None of it is true, however, as the firm is not a legally registered entity.

Can I Recover Cryptos From a Scammer?

Crypto assets can be recovered, although at great difficulty. To get help in this matter, book a consultation with our expert team.